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Saym · 6 days

Stanford's Engineering Economic Systems dept did a lot of work with Carnegie Mellon. I found a micromorts tutorial page via Carnegie Mellon's website. It is decent, and has three citations for articles written by Ron Howard, about micromorts, in the footnotes. I tried to view one, but it was behind a pay wall. Maybe someone will have better luck with one of the others. (I've lost interest at this point... but it was good for an hour's worth of insomnia relief).

Saym · 6 days

I'm guessing that the term was "created" by a single person, Ron Howard (I just lol'd slightly as I typed that, thinking of red heads and The Andy Griffith Show). Ron Howard taught at Stanford prior to my time there, which means it was awhile ago. He was a professor, maybe head of a department, of Engineering Economic Systems, which has since been absorbed back into Industrial Engineering (or management science/ operations research).

It doesn't seems all that original, as the concept of person-deaths per unit of something has been around for a long time e.g. in bio-medical engineering, when trying to make radiation exposure comparisons. I agree with you, austin63 (even if I don't know the term that is used by actuaries, I am reasonably sure it isn't "micromort").

usuallyskeptical · 7 days

Rexquando Why is everyone giving you such a difficult time here? You did something nice: You gave (anonymously) $110 that you earned legally, to try to help someone else, instead of keeping it for yourself. Good for you!

ChuckBaggett · 7 days

Sometimes stores or dry cleaners use clip things like that to hold together the folds on shirts, or blouses, or even skirts. All sorts of stores, from Dollar General to Macy's use similar little clips, although I can't be certain that that is what it is without seeing it. I find the things on my carpet now and then, from when I used to have money to buy new clothes.

FreshOutOfGeekistan · 7 days

Here's something slightly odd: This news story was about a March 1, 2012 event in NYC focused on fund raising from financial industry types (e.g. hedge fund billionaire David Shaw brought his wife and children, the article said). I was OP, when I submitted this, I noticed that there were other posts with nearly the same headline. "$35,800 fundraising dinner not well attended in Detroit" (August 7, 2011), "San Francisco $35,800 per plate fundraiser" (April 2011), "Obama raises money in Los Angeles, dinner @ $35,800/ per" (December 7, 2011), maybe one more. You would think they'd try charging less if they weren't getting many attendees?

Or maybe not, if this rate of attendance is enough to make it worth it, given that price. Wonder why they set it at exactly the same amount though, regardless of the city, and from one year to another?

FreshOutOfGeekistan · 1 month

Thank you!

FreshOutOfGeekistan · 1 month

No, I wasn't thinking that anything of great note would be disclosed. I looked at the list of hedge fund managers who are giving presentations at the conference, thus I inferred that hedge funds were interested in the organization of this conference.

Also, the hedge funds that are presenting at the conference are among those that I believe are known for being fond of low profiles, hein?

Otherwise, I have no doubt that you are correct, insofar as it mostly does boil down to people paying $5k to network and hear big shots talk about finance!

I doubt that 13-F's would reveal any valuable details about hedge fund investment strategies.

Okay, I confess, I don't even know what a 13-F is.

What is a 13-F?

FreshOutOfGeekistan · 1 month

No, you are NOT stupid! That is EXACTLY what most of the comments on the original article, posted on Ars Technica, said! They thought it was about text messaging too ;o)

iamnotwalterbishop · 1 month

I love the Duck! I still like Google too though. I don't think anything else really comes close to them, not for all-purpose searching. (There are lots of specialized search engines, but that's a different question.)

besttrousers · 1 month

I'm confused. My understanding of Euler equations is similar to what mantra alludes to, specifically, numerical analysis solutions using iterative techniques to solve (partial) differential equations. The paper you cited timhuge (and for which I do thank you for posting, by the way!), begins its description of Euler equations in the context of economics as follows:

The mathematics was developed by Bernoulli, Euler, Lagrange and others centuries ago jointly with the study of classical dynamics of physical objects; Euler wrote in the 1700’s ‘nothing at all takes place in the universe in which some rule of the maximum . . . does not appear’. The application of this mathematics in dynamic economics, with its central focus on optimization and equilibrium, is almost as universal. As in physics, Euler equations in economics are derived from optimization and describe dynamics, but in economics, variables of interest are controlled by forward-looking agents, so that future contingencies typically have a central role in the equations and thus in the dynamics of these variables.

So I guess the key difference is the part about future contingencies and forward-looking agents?

yeropinionman · 1 month

I just quick scanned that paper you posted gabbriel and your comment seems reasonable, IMHO. The paper you mentioned does not attempt an over-ambitious analytical approach (I'm not saying the OP does either, though, just noting as an aside).

I'm curious about something though. The paper you cited was dated October 2011. It actually mentions Eggertsson and Krugman's approach to understanding the liquidity trap (on p. 3 or 4, I think):

...historically, liquidity trap episodes have always followed disruptions in credit markets. Two independent recent papers, Curdia and Woodford (2010) and Eggertsson and Krugman (2011), draw related connections between credit crises and the liquidity trap. The main difference is that they work with a representative borrower and a representative lender and mute wealth dynamics to aim for analytical tractability. This implies that there is no precautionary effect on the lenders’ side and that there is no internal dynamics associated to the wealth distribution. As we shall see, in our model the dynamics of the wealth distribution play an important role in generating large swings in the natural interest rates.

Is that the same Eggertsson and Krugman paper that was posted here, for the QJE? There is nothing wrong if, in fact, it is the same paper! I was curious mostly because if it weren't, it means that Eggertsson and Krugman are VERY prolific!

If that is a silly question, I apologize in advance. I'm a refugee from r/traders and this is my first visit to this subreddit.

yeropinionman · 1 month

Thanks for posting that. I didn't notice it, as DeLong has such a huge volume of stuff from his feed (unfortunately his own writing often gets buried in the tide of news and debris). This was a very nicely written summary of Bagehot's empirical observations, and continuing relevancy.

expansionary policies affect both the demand for, and the supply of, safe, liquid stores of value....

I've been noticing Bagehot mentioned here and there lately in the blogosphere. I keep confusing him with the Minot line though! I won't now.

The natural cure for the financial system and for the real economy is for something to lead households and businesses to lower their demand for, or something to expand the supply of, safe, liquid savings vehicles. If this is accomplished so that desired safe and liquid asset holdings at full employment are once again equal to asset supplies, the economy will recover.

FreshOutOfGeekistan · 1 month

I thought the U.S. and global economy was in the throes of a recession, or rather, a financial irresponsibility driven depression. After reading this, it seems like the hedge funds and institutional investment elite are thriving. This is the second year for this conference, presumably because it did so well last year.

Do you think that is the reason for a conference like this? Often hedge funds and institutional investment management companies are low profile, don't advertise at all. I saw this in PR Newswire, which means they chose to do a press release.

The only other rationale that occurs to me is that this is an effort to address, and stem, the tide of investor fund withdrawals. But I'm not certain of that, not at all, given the fact that several very large state employee pension and retirement funds have invested some of their assets in hedge funds in the past few months.

FreshOutOfGeekistan · 1 month

EDIT: I'm sorry! Should read Indian Navy! I'm so sorry for the typo.

FreshOutOfGeekistan

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