Lars P. Syll

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The Swedish Academy. Founded in 1786. Dead in 2018. Advertisements

The wisdom of crowds  [embedded content] A classic demonstration of group intelligence is the jelly-beans-in-the-jar experiment, in which invariably the group’s estimate is superior to the vast majority of the individual guesses. When finance professor Jack Treynor ran the experiment in his class with a jar that held 850 beans, the group estimate was 871. Only one of the fifty-six people in the class made a better guess. There are two lessons to draw from...

Jean-Claude Arnault und die Schwedische Akademie Nach Missbrauchsvorwürfen gegen den Leiter eines Stockholmer Kulturzentrums ist die Vorsitzende der Schwedischen Akademie, Sara Danius, zurückgetreten. Sie lege auf Wunsch der Akademie ihr Amt mit sofortiger Wirkung nieder, teilte Danius mit. Die renommierte Akademie, die sie leitete, entscheidet jedes Jahr über die Vergabe des Literaturnobelpreises. Aus Protest gegen die Missbrauchsfälle hatten vier...

Margaret Thatcher väckte med sin nyliberala politik upprörda känslor. I radions P1 (kl. 21.03) diskuterar yours truly och Gunnela Björk järnladyn och hennes intellektuella och politiska arv. Här kan du lyssna på programmet i sin helhet redan nu. Advertisements

In “modern” macroeconomics — Dynamic Stochastic General Equilibrium, New Synthesis, New Classical and New ‘Keynesian’ — variables are treated as if drawn from a known “data-generating process” that unfolds over time and on which we therefore have access to heaps of historical time-series. If we do not assume that we know the “data-generating process” – if we do not have the “true” model – the whole edifice collapses. And of course, it has to. Who really honestly believes that...

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The gender pay gap Julian Jessop has a point when he says these gaps might not reflect overt discrimination by employees. They might instead be due to women sorting into lower-wage jobs. Airlines, for example, have big gender pay gaps because women tend to be low-paid cabin crew whilst men are higher-paid pilots. Such gender-based preferences, however, are NOT the end of the story. For one thing, as Sarah O’Connor says, employers might perhaps do more to...

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