Categories:
Economic Methods
This is from here.
HT to Timothy Taylor.
This is from here.
HT to Timothy Taylor.
May 6 2016
Today my homeschooled sons are taking the Advanced Placement United States History Exam. I took the exam when I was 17. They are 13. Given how often I deride the practical value of history in The Case Against Education, you could fairly ask, "What's the point?" Signaling is the easy answer. ...
May 5 2016
1.3 million is greater than 58,000 One of public choice economists' biggest insights is why, in a representative democracy, concentrated interest groups often gain at the expense of the dispersed consumers or taxpayers. Our favorite examples tend to be the sugar lobby, the farmers' lobby, and the steel industry's lobby...
May 5 2016
READER COMMENTS
ThaomasH
May 5 2016 at 4:43pm
More research is needed. 🙂
I suggest a randomized longitudinal cohort control study using a difference in differences or regression discontinuity methodology.
jxrjxr
May 6 2016 at 12:13pm
To make things even more disheartening, causation doesn’t necessarily imply correlation either. If you observe a perfect driver trying to keep a constant speed in a hilly area, you would observe no speed-vs-gas-pedal correlation nor any speed-vs-road-angle correlation; you would find a gas-pedal-vs-road-angle correlation though.
I think there’s a name for this type of scenario – (Milton) Friedman’s Thermostat, but I’m not sure how popular that term is.
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