Kenneth C. Griffin Department of Economics
Published by mheinl on Feb 1, 2022 "Be it a medical breakthrough, a policy initiative, a product innovation, or a social movement, translating an idea into widespread impact depends on one thing only: whether it can be replicated at scale." This is the foundational idea behind John A.
5 Vital Signs - The Voltage Effect
- Inference - unless you can replicate your results at least 3 times over you don’t have evidence
- Representativeness of the population - if something works for a specific group of people it doesn’t necessarily work for others, are the people within the specific group biased
- Representativeness of the situation - is the secret sauce the chef or the ingredients?
- Validity increases if facilitators understand the ‘why's behind the secret sauce
- Use technology to automate as much of the process as possible
- What are the non-negotiables and what are the negotiables?
- Understand spillovers (are there unforeseen effects that will cause damage that pulls down the aim of the solution) and general equilibrium effects (markets will find new equilibriums over time)
- Marginal cost considerations (are there economies of scale or diseconomies?)