Tag: econometrics
Beware Survivorship Bias
| Sunday April 3, 2016 at 2:18 PM PDT
Suppose you wanted to know how many of the soldiers, sailors, and airmen who served during World War II were killed in that war. So you sent inquiries to a random sample of persons whose names were drawn from a list of all those who served in the military during the war, asking: Were...
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Douglass C. North (November 5, 1920 – November 23, 2015)
| Sunday December 27, 2015 at 3:34 PM PST
I met Douglass C. North exactly forty-eight years ago, during the final week of 1967, when the American Economic Association was holding its annual meetings in Washington, D.C., and I went to Doug’s room at the Shoreham Hotel to be interviewed for a faculty opening at the University of Washington, where he was chairman...
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