Beyond the significant financial expenses required to conduct RCTs … critics have raised concerns about considerable opportunity costs associated with their privileged status in programme and policy assessment. These costs result from how an over-emphasis on experimental evaluations in evidence generation systematically undermines alternative research methods potentially better equipped to answer questions about causal mechanisms (or […]
Statistics & Econometrics
. Below you will find a little Python script yours truly made to simulate a betting scenario as a Markov process and visualise how the total amount of money changes over time. This model highlights that, due to a higher probability of losing, the total money will generally trend downwards over a large number of […]
. Added: And here’s a little Python code yours truly has put together so you can play around and plot Beta distributions: import numpy as np import matplotlib.pyplot as plt from scipy.stats import beta # Given data total_flips = 100 observed_heads = 60 observed_tails = 40 # Adjusted to match 100 flips # Calculating the […]
. Here’s a somewhat simplified Python script of the case, and as you can see, the expected median wealth is quickly trending downwards:
No doubt exists that an entirely different subject has taken over control when it comes to education in scientific methodology in almost the entire field, namely statistics … The value of the statistical regulatory system should of course not be questioned, but it should not be forgotten that other forms of reflection are also cultivated […]
Do you believe that 10 to 20% of the decline in crime in the 1990s was caused by an increase in abortions in the 1970s? Or that the murder rate would have increased by 250% since 1974 if the United States had not built so many new prisons? Did you believe predictions that the welfare […]