I recently learnt that a number of people think that the more the number of variables you use in your model, the better your model is! What has surprised me is that I’ve met a lot of people who think so, and recommendations for simple models haven’t been taken too kindly. The conversation usually goes…
Kabaddi and Jesus Navas
I’ve always talked about the Kabaddi style of solving a problem. In Kabaddi, when you are defending, six out of the seven players in the team form a chain in order to encircle the attacker. The seventh defender, however, strikes it alone, in a different direction, trying to draw the attacker into a position where…
Intellectual Property
A blog post earlier this month on Econlog finished off with a very strong quote by Friedrich Hayek: One of the forms of private property that people cherish most is their ideas. If you convince them that their ideas are wrong, you have caused them to suffer a capital loss. I ended up liking it…