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However, in general, ratings for bonds and other securities mainly reflect default probabilities, and some research, including my own, shows that S.&P. may systematically err in its assessments.
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This may be overly conservative, but we wished to systematically err towards underestimating the impact of a pandemic on this workforce in the baseline model.
Some assumptions may systematically bias risk upward across all compounds.
These numbers are therefore too uncertain to act on.Sir Nicholas may well err on the gloomy side.
Call us risk averse... call us parochial Londoners clinging to our green and pleasant isle... but we at The Economist would prefer to err on the side of caution:Sir Nicholas may well err on the gloomy side.
Bob may have trouble keeping his affairs straight and may err while rescuing a cat in a tree, but he's a noble, well-meaning innocent.
In the meantime, doctors may err on the side of caution, and anxious patients may encourage that.
It may not be ethically acceptable to opt for 'watchful waiting' in such cases, and one may wish to err on the side of caution.
However, existing models may err by as much as 250km in predicting landfalls.
Romantics may err in the other direction when their "artistic preferences and intuition" take over.
So manufacturers may err on the side of more weight, adding more calories to the product.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com