Best of #econtwitter - Week of November 20, 2022
Welcome readers old and new to this week’s edition of Best of Econtwitter. Please submit suggestions — very much including your own work! — over email or on Twitter @just_economics.
Networks (real and virtual) let people keep up with news by learning from others. Most social learning theories don't model the world changing. Modeling it surprisingly makes rational learning rules simpler: people learn by putting (unchanging) weights on friends' opinions. 1/
How does social learning work when the state changes over time? In the model of Dasaratha, @ben_golub and @nirhak1, Bayesian learning is linear, and good learning requires diverse friends. https://t.co/LQ6LaTM3l2 https://t.co/ZS6ZIrO9eH
The Review of Economic Studies @RevEconStudies
My new working paper with is out! VALUING EXCESS DEATHS CAUSED BY CLIMATE CHANGE nber.org/papers/w30648 We submitted a week ago, but it’s now especially relevant as EPA released the new US Social Cost of Carbon on Friday epa.gov/system/files/d… Thread 👇
Excited to release this working paper with , Jishnu Das, and , which represents something like 10+ years of work (!) trying to understand variation in school quality in a low-income setting with (like many LICs) substantial school choice. A short thread...
Test-score-based measures of quality, or school value-added (SVA), in Pakistan exhibit high variation and indicate a range of effects from reallocating students. The market rewards high-SVA private schools, from Andrabi, @BauNatalie, Das, and @aikhwaja https://t.co/8hQWj8pDwi https://t.co/RqS1u0zSvc
Yes, a lot easier! Novel papers much more likely to get accepted across journals, and ~doubling acceptance rates at (Having many conventional journal combinations in paper very important too) 4/n
1/ Excited to share our new paper "Labor advantages drive the greater productivity of faculty at elite universities" in with : scim.ag/AV Why do faculty publication rates increase so much with prestige? Let’s go:🧵
^observational 😶; critique
📢 "Preferences, Inequities, & Incentives in the Substitute Teacher Labor Market"📢 Substitute coverage in large districts is highly inequitable along racial & socioeconomic lines. CPS aimed to reduce these inequities w/ differentiate pay. It worked. edworkingpapers.com/ai22-680 🧵
So many aspiring young social scientists applying for their first research assistant positions right now, I thought I'd regale you with my first RA job (and my third best field work story). 👇
My ‘cereal and states’ paper (with Mayshar & ) came out in the JPE this year, so now I feel comfortable having a little rant about the editorial/refereeing process in our profession. 1/n
The Origin of the State: Land Productivity or Appropriability? My JPE with @PascaliLuigi and Joram Mayshar. I consider this my most significant work in 25 years of research. https://t.co/e8L4cQr0n1
Omer Moav @Omer_Moav
Yesterday, after a good chat about academic econ careers, a recent college grad told me that makes the path seem so negative. Twitter can surface/encourage tough stuff, but can we balance that with some positivity? What's one thing you've loved about academic econ?
In 1984, F.A. Hayek was asked who his favorite economist was. He named two. The first was Nobel Prize winner George Stigler. The second, sadly, never got the recognition he deserved. Here are 5 papers by the 🐐, Armen Alchian, and why you should read them today 🧵
How did MIT solve it? Was it the president? The nonprofit entity itself? The harmony of student, faculty and administrators body? Perhaps one of the buildings or the whole physical infrastructure combined?
This one is actually a good excuse to highlight why eigenvector centrality is such a compelling notion. The idea is that the "cool" people (in whatever sense) are the ones who receive attention/respect, or in this case news, from other cool people. 1/
Just finished up the penalty tally for the JPE-Micro. Recall that if there is no decision within 45 days there is a $500 fine for the Editor. I thought the plan has working well until I just realized I am the worst offender--I am out $5000! Yikes, that hurts.
Guess at how many observations you need to have 90% statistical power to detect an effect that increases a rate from 50% to 55% (not an inconsequential boost in many settings!). Assume perfect randomization, half treated/half control Answer in third post.