What Knowledge is Useful? > Companies and Functions
Christensen on Schlaifer
I sat in on Bob Schlaifer’s course. . . .
He, in effect invented decision theory on his own. He then later discovered that it had already been invented. But he took over a course that had been taught by Ted Brown. Did you know that part of the story, by the way? Ted Brown is the person who introduced Aiken to Thomas J. Watson. . . .
So, in effect, he got IBM into computers. So he taught the second-year statistics course, Ted Brown did. And then when he retired, Bob Schlaifer took them over. And he basically came to the conclusion that sort of ordinary, classical statistics wasn’t very much help in making decisions. And so he started thinking about the way to do it. In effect, sort of discovered Bayes’ theorem, and was developing the course along these lines.