Philosophy of Small Data

This paper is concentrated on one question: “Is small data important?” (or when small data is important, when is not.) Usually, I hear that data is small, or it is not representative. What if we are speaking about the phenomena? According to Silver (2012) “The story the data tells us is often the one we'd like to hear.” Experts are mostly interested in hearing listen about Big Data. Based on my view, economists ignore small data. Through triangle of three books: Lindstrom's book: “Small data: the tiny clues that uncover huge trends,” Taleb's “The black swan: The impact of the highly improbable,” and Kahneman's “Thinking, fast and slow,” I argue my views more effectively