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Jensen's Inequality as an Intuition Tool (2021)
Practice in distinguishing linear vs non-linear phenomena
But the real goal is for readers to recognize when the domain they are reasoning about is subject to the surprising predictions of Jensen’s Inequality. Enlightened, we instead estimate that on average it will take longer than 25 minutes to pounce on that glorious salad bar with the popcorn shrimp. Estimates of output based on the average input will fail to appreciate the convexity of some of the payoff functions in a hyper-connected world network.
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