Another Meaning for “Use the Damn Data”

April 7, 2015 Analysis

Ben Wellington, who runs the excellent I Quant New York  did a nice job here unpacking NYC taxi charge data and found that two different systems installed in taxis calculate driver tips differently.  And he estimates the more generous (?) system produces $5.2 million in tips above what the other system provides. Of course, riders have been […]

Read the full article →

Peanut, Peanut Butter

March 21, 2011 Economics

Too much of economics is pure theory with no data. Take a look at James Hamilton’s commentary at Econobrowser on a paper by Chevalier and Kashyap. The authors actually used grocery store price data. What variability is hidden behind national economic data?

Read the full article →