Even if could pick people/teams that won all their trials/competitions, some experience of failure might be better. What % failure is best?
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I'm trying to distinguish quality signal from learning effect. If not for the signal issue, I'd think you'd want some learning from failure.
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It is interestingly difficult to imagine ignoring the quality signal.
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In the real world, a failure rate of zero means lack of ambition. Anything sufficiently hard will lead to failure.
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