Category Archives: math

Asymptotically Normal

When I first came to LSU (last millennium) we used 3 separate machines to print, fax and copy, had dial up 4200 baud modems, and only the POTUS and other mobsters had satellite phones. Technology has changed so much and … Continue reading

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Asymptotically Valid Co-Variance Estimator

Did you get yours yet? I heard all the hip variance-co-variance matrices are into bondage validity this year. Econometric validity requires two conditions: no bias and consistency. This may be the first time the egg-heads got it right. Back to the … Continue reading

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Faith-Based Econometrics

It’s wrong like bacon fried Twinkies are wrong. It’s wrong like laughing during Schindler’s List. Not caring about the matrix algebra fundamentals underlying the SAS/Stata commands is wrong when I am cultivating a lifelong habit of learning.** Does a girl … Continue reading

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There Ain’t No Such Thing as a Power Nap

We’re all familiar (or should be) with TANSTAAFL, aka There Ain’t No Such Thing As A Free Lunch. I’ve coined a complementary term: TANSTAAPN. Nothing’s free. Not lunch, not gas station car washes, and most certainly not naps in the … Continue reading

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Exponential Decay

Went to lunch with this youngster today. He was unaware that you could start suffering from sleep injuries* as early as the mid-thirties. A sleep injury occurs when you go to bed at the regular time, sleep the same number … Continue reading

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Log Likelihood

A problem from yesterday: Suppose you observe n iid normal variables from the normal density, X ∼ N(µ, σ 2 ), where σ 2 is known. (A) Find the maximum likelihood estimator of the mean µ. L is for likelihood, where L(θ; … Continue reading

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