Tag "Jevons Paradox"

Does Cost Limit the Use and Relevance of Analytics in Business Decision Making?

In 1865, William Jevons stumbled upon an economic paradox. As it became more efficient to use coal through the advent of new technology, coal consumption rose rather than fell.  On the face of it, this result was counter-intuitive. As an economist, Jevons expected that better efficiency would in fact lead to a decrease in the... more