My Course Wish List at CMSE next year

August 30, 2012 | Pairach

Here is the list  of courses I wish to teach next year at Chiang Mai School of Economics, not so sure about the demand there! Undergraduate (B.Econ.) ECON 304: Economics Statistics (with R) ECON 408: Research Design in Economics ECON 417: Managerial Economics ECON 419: Economic Theory and Entrepreneurship ECON 443: Industrial Economics ECON 4... [Read more...]

Review of “The Origin of Financial Crises” by George Cooper

March 19, 2012 | Pat

The subtitle is “Central banks, credit bubbles and the efficient market fallacy”. Executive summary This is much too important of a book to remain as obscure as it is.  Besides, it is quite a fun read. It talks about two subjects: Why markets for goods and services tend toward equilibrium ... [Read more...]

Descriptive statistics, causal inference, and story time

July 7, 2011 | andrew

Dave Backus points me to this review by anthropologist Mike McGovern of two books by economist Paul Collier on the politics of economic development in Africa. My first reaction was that this was interesting but non-statistical so I’d have to either post it on the sister blog or wait ... [Read more...]

Speeding Up MLE Code in R

June 18, 2011 | John Myles White

Recently, I’ve been fitting some models from the behavioral economics literature to choice data. Most of these models amount to non-linear variants of logistic regression in which I want to infer the parameters of a utility function. Because several of these models aren’t widely used, I’ve had ... [Read more...]

Workflow Articles in “The Political Methodologist”

April 1, 2011 | kjhealy

I’ve written a few times before about how to choose the software you work with, and what you should and should not care about when making those choices. I maintain a page with various resources related to this, if you’re interested, most notably the Emacs Starter Kit for ... [Read more...]

The housing bubble by city

March 17, 2011 | dan

The housing bubble by city. Miami sailed high and fell far. Detroit rose modestly and but dropped more than it went up. Dallas held steady. DC is enjoying a bit of renewed growth, but are in and New York yet to fall? [Read more...]

Inconsistencies in Bayesian Models of Decision-Making

January 20, 2011 | John Myles White

But modeling devices that make sense for an unbiased decisionmaker may not make sense for a biased one. For example, why would individuals have priors and posteriors if they are destined to apply Bayes’ law incorrectly?1 A question I often ask myself. Wolfgang Pesendorfer : Behavioral Economics Comes of Age: A ... [Read more...]

Academic Jargon: Field-Specific Insults

December 12, 2010 | John Myles White

Every academic field seems to develop a set of generic insults based on their intellectual toolkit. Here are two examples I hear often: Probabilists and Statisticians: “I think that’s an interesting case, but it’s in a set with measure zero.” Economists: “X group’s behavior is clearly rent-seeking.” ... [Read more...]

Help! My model fits too well!

October 22, 2010 | Tony

This is sort-of related to my sidelined study of graph algebra. I was thinking about data I could apply a first-order linear difference model to, and the stock market came to mind. After all, despite some black swan sized shocks, what better predicts a day’s closing than the previous ...
[Read more...]

American TV does cointegration

October 18, 2010 | Pat

Fringe provides an excellent example of cointegration.  This is a television show in which there are two adjacent universes.  The universes are almost alike but not exactly. Now, everyone knows that history is chaotic.  If a butterfly does an extra flap of its wings, then that difference spreads out to ...
[Read more...]

Physical economy v social economy

September 17, 2010 | Pat

There’s a hole in the bucket of traditional economics. Homo socialus seems to be on the rise, and homo economicus is getting harder to find. Vulcanism has become evident in the R community over the last several days.  One of the visible eruptions has been over money.  This resulted ...
[Read more...]
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