The document discusses relative estimation versus absolute estimation. It notes that people are bad at absolute estimation but good at relative estimation when provided an "anchor" for comparison. It provides an example of estimating the value of a house, where providing different anchor values of $100k and $900k would likely result in very different estimates. The document is about a 5 minute presentation on relative estimation given by Stijn Decneut.

1. @iLean_be
Relative Estimation
in 5 minutes
Stijn Decneut
stijn@ilean.be

2. @iLean_be
An estimation challenge

3. @iLean_be
How many?
in

4. @iLean_be
How many?
in

5. @iLean_be
How many?
in

6. @iLean_be
Tallest? Smallest?

7. @iLean_be
We are bad at absolute estimation
We are good at relative estimation
Dive into Anchors

8. @iLean_be
There’s a reason for this

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We need an ‘anchor’ to compare

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No anchor: unreliable estimation
Bad anchor: biased estimation
Back

11. @iLean_be
Of course I ignore irrelevant numbers

12. @iLean_be
Expert advice: value of this house?
I’d like 100k
I’d like 900k

13. @iLean_be
Which road did you take to work?
30 120

14. @iLean_be
Relative Estimation
This was ...
Stijn Decneut
stijn@ilean.be
in 5 minutes