Posts Tagged ‘ economics ’

Died in the Wool

July 26, 2017
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Garrett M. writes: I’m an analyst at an investment management firm. I read your blog daily to improve my understanding of statistics, as it’s central to the work I do. I had two (hopefully straightforward) questions related to time series analysis that I was hoping I could get your thoughts on: First, much of the […] The post Died in the Wool appeared first on Statistical Modeling, Causal Inference, and…

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Another simple Excel chart needs help

July 24, 2017
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Another simple Excel chart needs help

Kaiser Fung, founder of Principal Analytics Prep and Junk Charts, takes apart an Elon Musk chart, created using some Excel defaults.

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How does a Nobel-prize-winning economist become a victim of bog-standard selection bias?

July 20, 2017
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Someone who wishes to remain anonymous writes in with a story: Linking to a new paper by Jorge Luis García, James J. Heckman, and Anna L. Ziff, an economist Sue Dynarski makes this “joke” on facebook—or maybe it’s not a joke: How does one adjust standard errors to account for the fact that N of […] The post How does a Nobel-prize-winning economist become a victim of bog-standard selection bias?…

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Hey—here are some tools in R and Stan to designing more effective clinical trials! How cool is that?

July 15, 2017
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In statistical work, design and data analysis are often considered separately. Sometimes we do all sorts of modeling and planning in the design stage, only to analyze data using simple comparisons. Other times, we design our studies casually, even thoughtlessly, and then try to salvage what we can using elaborate data analyses. It would be […] The post Hey—here are some tools in R and Stan to designing more effective…

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The art of arranging bars

July 12, 2017
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The art of arranging bars

Kaiser Fung, founder of Junk Charts and Principal Analytics Prep, shows how to introduce variety into bar charts via colors, sort order and orientation.

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Why they aren’t behavioral economists: Three sociologists give their take on “mental accounting”

July 10, 2017
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Nina Bandelj, Fred Wherry, and Viviana Zelizer write: Rather than retreat to disciplinary corners, let us begin by affirming our respect for the generative work undertaken across a variety of disciplines. We’re all talking money, so it is helpful to specify what’s similar and what’s different when we do. . . . In this post, […] The post Why they aren’t behavioral economists: Three sociologists give their take on “mental…

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Statisticians and economists agree: We should learn from data by “generating and revising models, hypotheses, and data analyzed in response to surprising findings.” (That’s what Bayesian data analysis is all about.)

July 6, 2017
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Kevin Lewis points us to this article by economist James Heckman and statistician Burton Singer, who write: All analysts approach data with preconceptions. The data never speak for themselves. Sometimes preconceptions are encoded in precise models. Sometimes they are just intuitions that analysts seek to confirm and solidify. A central question is how to revise […] The post Statisticians and economists agree: We should learn from data by “generating and…

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Turks need money after expensive weddings

July 5, 2017
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Josh Miller points to this: “We offered mTurk workers $0.50–$0.75 to complete the survey.” Why would someone who spent $20k+ on their wedding be filling out a survey on mTurk? Maybe things didn’t turn out so well? Josh continues: I didn’t read the paper or the empirical section, just the abstract and I quickly looked […] The post Turks need money after expensive weddings appeared first on Statistical Modeling, Causal…

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Capitalist science: The solution to the replication crisis?

June 27, 2017
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Bruce Knuteson pointed me to this article, which begins: The solution to science’s replication crisis is a new ecosystem in which scientists sell what they learn from their research. In each pairwise transaction, the information seller makes (loses) money if he turns out to be correct (incorrect). Responsibility for the determination of correctness is delegated, […] The post Capitalist science: The solution to the replication crisis? appeared first on Statistical…

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Incentives Matter (Congress and Wall Street edition)

June 24, 2017
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[cat picture] Thomas Ferguson sends along this paper. From the summary: Social scientists have traditionally struggled to identify clear links between political spending and congressional voting, and many journalists have embraced their skepticism. A giant stumbling block has been the challenge of measuring the labyrinthine ways money flows from investors, firms, and industries to particular […] The post Incentives Matter (Congress and Wall Street edition) appeared first on Statistical Modeling,…

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