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Showing posts with the label econoblogosphe

I'm safe: I'm on a mission from God

P(H/D) = [P(D/H) x P(H)] ÷ P(D). That is one common formulation of Bayes' theorem, and at the heart of the view of statistics associated with a mid-18th century Englishman, Thomas Bayes. I blogged about this in January. If you don't understand the notation above, and would like a primer, go here. I bring it up again because Bayesianism has attracted new attention in the blogosphere. Sometimes the above is called "Bayes' rule," because it suggests a rule for constantly updating your views of the likelihood of events. Your hypothesis of probability of H on Tuesday (the prior ) is to be updated according to what happens or doesn't happen Wednesday, thereby yielding the  posterior probability. Econoblogger Noah Smith wrote a post he calls " Bayesian Superman." He combines a (male)...

Summers & Yellen: Some Links

The econoblogosphere is abuzz with the question of the relative merits of the two people most likely to receive Obama's nod to become the next Federal Reserve chairman when Bernanke leaves next year. It seems to have come down to Janet Yellen or Larry Summers. Nine links, presented without further comments. Felix Salmon / Ezra Klein Slate Also Slate Sheila Bair MarketWatch Recent speech by Yellin PRI Boston Globe