Lars P. Syll

 [embedded content] Advertisements

Why diversity trumps ability  [embedded content] Advertisements

Lump to live — the rationale for categorical models  [embedded content] Great lecture by one of my favourite lecturers — Scott Page. Advertisements

Kruskal’s algorithm (student stuff)  [embedded content] Advertisements

Debt deflation and liquidity traps Deflationary policies are deflationary. To a large extent deflations have been caused by tight monetary and fiscal policies pursued by central banks. With a defensive fiscal policy and a targeted inflation rate set at a very low level, real inflation easily turn negative. Another consequence of austere fiscal and monetary policies is that overall unemployment get stuck at a high level. This is deeply worrying, especially...

Logical fallacies — the case of Donald Trump [embedded content] Advertisements

The statistical crisis in social science  [embedded content] Advertisements

Trig trick (student stuff)  [embedded content] Advertisements

Why we can’t avoid another financial crisis If there’s anything the last decade has shown us, it is that mainstream economists have gone astray in their tool shed. Mainstream neoclassical economics has contributed to causing today’s economic crisis rather than to solving it. So we are in dire need of rethinking economics. An important building block in working out a new — more realist and relevant — economic theory, is Hyman Minsky’s thoughts on the...

Don’t trust summary statistics alone When teaching statistics and econometrics yours truly always stress the importance of data visualization. The thirteen datasets shown above is a great illustration of why one should always plot data. They all have the same summary statistics — mean, standard deviation, correlation coefficient — but some are dinosaurs and others are stars … Conclusion: never trust summary statistics alone! Advertisements...