Ecological Validity has two distinct usages that will both sometimes be used. The most common usage comes from the experimentaI sciences and refers to the degree to which experimental findings generalize to real-world settings. Studies that are true in a controlled lab setting often fail to generalize to real-world settings for a variety of reasons: […]
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For a more detailed, historical consideration of expected valueFor a more detailed, historical consideration of expected value, with more complicated detailed, complex examples of how to calculate it, see the Casino Cognition Substack... More, with more complicated detailed, complex examples of how to calculate it, see the Casino Cognition Substack essay from January 2025 here. Expected value or EV is the average return one can expect to get from a repeated decision, such as from a gamble, if it is
