30 MAY 2015 by ideonexus

 Intellectual Leaders Have Fewer Deaths in War

Now that the presidency of George W. Bush is over, the theory that we are better off with unintellectual leaders is just embarrassing, and the reasons for the embarrassment may be quantified. Measuring the psychological traits of public figures, to be sure, has a sketchy history, but the psychologist Dean Simonton has developed several historiometric measures that are reliable and valid (in the psychometrician’s technical sense) and politically nonpartisan.208 He analyzed a dataset of 42 pr...
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27 DEC 2013 by ideonexus

 Why Economists Will Continue to be Wrong

Carter had initially used arbitrary parameters in his perfect model to generate perfect data, but now, in order to assess his model in a realistic way, he threw those parameters out and used standard calibration techniques to match his perfect model to his perfect data. It was supposed to be a formality--he assumed, reasonably, that the process would simply produce the same parameters that had been used to produce the data in the first place. But it didn't. It turned out that there were many ...
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They make models based on past data, and when they fail to predict the future, they adjust them to match the new past data. The problem is that so many models will match the past data, there could be no end to the number of models they throw out.