Posts Tagged ‘ economics ’

Kaiser’s beef

May 23, 2015
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Kaiser’s beef

The Numbersense guy writes in: Have you seen this? It has one of your pet peeves… let’s draw some data-driven line in the categorical variable and show significance. To make it worse, he adds a final paragraph saying essentially this is just a silly exercise that I hastily put together and don’t take it seriously! […] The post Kaiser’s beef appeared first on Statistical Modeling, Causal Inference, and Social Science.

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Creativity is the ability to see relationships where none exist

May 22, 2015
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Creativity is the ability to see relationships where none exist

Brent Goldfarb and Andrew King, in a paper to appear in the journal Strategic Management, write: In a recent issue of this journal, Bettis (2012) reports a conversation with a graduate student who forthrightly announced that he had been trained by faculty to “search for asterisks”. The student explained that he sifted through large databases […] The post Creativity is the ability to see relationships where none exist appeared first…

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Shaking up expectations for pension benefits

May 20, 2015
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Shaking up expectations for pension benefits

Ted Ballachine wrote me about his website Pension360 pointing me to a recent attempt at visualizing pension benefits in various retirement systems in the state of Illinois. The link to the blog post is here. One of the things they...

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I actually think this infographic is ok

May 15, 2015
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Under the heading, “bad charts,” Mark Duckenfield links to this display by Quoctrung Bui and writes: So much to go with here, but I [Duckenfield] would just highlight the bars as the most egregious problem as it is implied that the same number of people are in each category. Obviously that is not the case […] The post I actually think this infographic is ok appeared first on Statistical Modeling,…

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The connection between varying treatment effects and the well-known optimism of published research findings

May 14, 2015
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Jacob Hartog writes: I thought this article [by Hunt Allcott and Sendhil Mullainathan], although already a couple of years old, fits very well into the themes of your blog—in particular the idea that the “true” treatment effect is likely to vary a lot depending on all kinds of factors that we can and cannot observe, […] The post The connection between varying treatment effects and the well-known optimism of published…

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There’s No Such Thing As Unbiased Estimation. And It’s a Good Thing, Too.

May 11, 2015
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There’s No Such Thing As Unbiased Estimation. And It’s a Good Thing, Too.

Following our recent post on econometricians’ traditional privileging of unbiased estimates, there were a bunch of comments echoing the challenge of teaching this topic, as students as well as practitioners often seem to want the comfort of an absolute standard such as best linear unbiased estimate or whatever. Commenters also discussed the tradeoff between bias […] The post There’s No Such Thing As Unbiased Estimation. And It’s a Good Thing,…

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Collaborative filtering, hierarchical modeling, and . . . speed dating

May 10, 2015
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Collaborative filtering, hierarchical modeling, and . . . speed dating

Jonah Sinick posted a few things on the famous speed-dating dataset and writes: The main element that I seem to have been missing is principal component analysis of the different rating types. The basic situation is that the first PC is something that people are roughly equally responsive to, while people vary a lot with […] The post Collaborative filtering, hierarchical modeling, and . . . speed dating appeared first…

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What I got wrong (and right) about econometrics and unbiasedness

May 8, 2015
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Yesterday I spoke at the Princeton economics department. The title of my talk was: “Unbiasedness”: You keep using that word. I do not think it means what you think it means. The talk went all right—people seemed ok with what I was saying—but I didn’t see a lot of audience involvement. It was a bit […] The post What I got wrong (and right) about econometrics and unbiasedness appeared first…

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A question about physics-types models for flows in economics

May 7, 2015
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Phillip Middleton writes: I’ve been attempting to generate a set of visually (animated in fact) mappable models which represent measurable forces that demonstrate effects on localized economic (census block level) outcomes, which in turn affect and are affected by regional education dynamics, brick/mortar business development, etc… This is coming out of some reading and observation […] The post A question about physics-types models for flows in economics appeared first on…

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Painting the full picture of the employment situation

May 5, 2015
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Painting the full picture of the employment situation

It's very frustrating to read the mainstream articles about the recent unemployment report. For example, the New York Times said "U.S. Jobless Claims Hit 15-year Low." (link) At this point, everyone should be aware of how employment statistics, in particular,...

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