Rationality, markets, and morals: RMM Band 2 (2011)
Recent Submissions
-
Low Assumptions, High Dimensions
(2011)These days, statisticians often deal with complex, high dimensional datasets. Researchers in statistics and machine learning have responded by creating many new methods for analyzing high dimensional data. However, many ... -
Do Self-Committers Mind Other-Imposed Commitment? An Experiment on Weak Paternalism
(2011)This experiment investigates whether protégés judge paternalism by means of its consequences or on principled grounds. Subjects receive a payment for showing up early the next morning. The later they show up the less they ... -
Foundational Issues in Statistical Modeling: Statistical Model Specification and Validation
(2011)Statistical model specification and validation raise crucial foundational problems whose pertinent resolution holds the key to learning from data by securing the reliability of frequentist inference. The paper questions ... -
You May Believe You Are a Bayesian But You Are Probably Wrong
(2011)An elementary sketch of some issues in statistical inference and in particular of the central role of likelihood is given. This is followed by brief outlines of what George Barnard considered were the four great systems ... -
Sen’s Apples: Commitment, Agent Relativity and Social Norms
(2011)This paper examines Amartya Sen’s notion of ‘commitment’ in light of Geoffrey Brennan’s recent discussion thereof. Its aim is to elucidate one type of commitment which consists in following social norms. To this end, I ... -
Empirical Economic Model Discovery and Theory Evaluation
(2011)Economies are so high dimensional and non-constant that many features of models cannot be derived by prior reasoning, intrinsically involving empirical discovery and requiring theory evaluation. Despite important differences, ... -
Induction and Deduction in Bayesian Data Analysis
(2011)The classical or frequentist approach to statistics (in which inference is centered on significance testing), is associated with a philosophy in which science is deductive and follows Popper's doctrine of falsification. ... -
Automatic Actions: Challenging Causalism
(2011)I argue that so-called automatic actions—routine performances that we successfully and effortlessly complete without thinking such as turning a door handle, downshifting to 4th gear, or lighting up a cigarette—pose a ... -
The Limits of Market Efficiency
(2011)The framework rules within which either market or political activity takes place must be classified in the non-partitionability set under the Samuelson taxonomy. Therefore there is nothing comparable to the profit-loss ...