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Archive of posts filed under the Economics category.

Florida backlash

In a post entitled, “A holiday message from the creative class to Richard Florida — screw you,” Mark Palko argues that Florida’s famous theories about the rise of the creative class have not held up over time: Florida paints a bright picture of these people and their future, with rapidly increasing numbers, influence and wealth. […]

The Washington Post reprints university press releases without editing them

Somebody points me to this horrifying exposé by Paul Raeburn on a new series by the Washington Post where they reprint press releases as if they are actual news. And the gimmick is, the reason why it’s appearing on this blog, is that these are university press releases on science stories. What could possibly go […]

How to think about “identifiability” in Bayesian inference?

We had some questions on the Stan list regarding identification. The topic arose because people were fitting models with improper posterior distributions, the kind of model where there’s a ridge in the likelihood and the parameters are not otherwise constrained. I tried to help by writing something on Bayesian identifiability for the Stan list. Then […]

Special discount on Stan! $999 cheaper than Revolution R!

And we’ll throw in RStan and PyStan for free! Details here.

Peabody here.

I saw the trailer for the new Mr. Peabody movie and it looked terrible. They used that weird animation where everything looks round, also the voice had none of the intonations of the “real” Peabody (for some reason, the trailer had the original English voices, maybe they didn’t get their act together to make a […]

Microfoundations of macroeconomics

I received the following email the other day: Given your past criticisms of this issue in your posts, I do not think you will like my co-authored paper, “Microfoundations of the Business Cycle and Monetary Shocks” . . . Given this lead-in, of course I had to take a look. The paper is by James […]

Into the thicket of variation: More on the political orientations of parents of sons and daughters, and a return to the tradeoff between internal and external validity in design and interpretation of research studies

We recently considered a pair of studies that came out awhile ago involving children and political orientation: Andrew Oswald and Nattavudh Powdthavee found that, in Great Britain, parents of girls were more likely to support left-wing parties, compared to parents of boys. And, in the other direction, Dalton Conley and Emily Rauscher found with survey […]

The Commissar for Traffic presents the latest Five-Year Plan

What do Paul Samuelson and the U.S. Department of Transportation have in common? Phil Price points us to this news article by Clark Williams-Derry: As the State Smart Transportation Initiative at the University of Wisconsin points out, the US Department of Transportation has been making the virtually identical vehicle travel forecasts for well over a […]

The AAA Tranche of Subprime Science

In our new ethics column for Chance, Eric Loken and I write about our current favorite topic: One of our ongoing themes when discussing scientific ethics is the central role of statistics in recognizing and communicating uncer- tainty. Unfortunately, statistics—and the scientific process more generally—often seems to be used more as a way of laundering […]

How to think about the statistical evidence when the statistical evidence can’t be conclusive?

There’s a paradigm in applied statistics that goes something like this: 1. There is a scientific or policy question of some theoretical or practical importance. 2. Researchers gather data on relevant outcomes and perform a statistical analysis, ideally leading to a clear conclusion (p less than 0.05, or a strong posterior distribution, or good predictive […]