The intuition behind linear regression can be difficult for students to grasp particularly without a readily accessible context. This paper uses basketball statistics to demonstrate the purpose of linear regression and to explain how to interpret its results. In particular, the student will...

This paper develops an alternative approach for demand estimation. Taking willingness to pay as model primitive, it establishes a general and yet analytically simple demand function, and proposes an estimation procedure that uses survey to solicit consumers' willingness to pay with which the...

Instructors and researchers have used the ‘flow' of knowledge (post-test score minus pre-test score) to measure learning in the classroom for the past fifty years. Walstad and Wagner (2016) and Smith and Wagner (2018) move this practice forward by disag- gregating the flow of knowledge and...

There is an immense body of literature on the relationship of money and output, with result-integrity depending on the aggregates used. This paper proposes an alternative two-step approach, based on the reality that: (1) money creation is just the outcome of new bank loans extended, and (2) the...

An explanation of the Dunning-Kruger effect is provided which does not require any psychological explanation, because it is derived as a statistical artefact. This is achieved by specifying a simple statistical model which explicitly takes the (random) boundary constraints into account. This...

We propose the relaxation algorithm as a simple and powerful method for simulating the transition process in growth models. This method has a number of important advantages: (1) It can easily deal with a wide range of dynamic systems including stiff differential equations and systems giving rise...

We propose the relaxation algorithm as a simple and powerful method for simulating the transition process in growth models. This method has a number of important advantages: (1) It can easily deal with a wide range of dynamic systems including multi-dimensional systems with stable eigenvalues...

Estimation and modelling problems as they arise in many fields often turn out to be intractable by standard numerical methods. One way to deal with such a situation consists in simplifying models and procedures. However, the solutions to these simplified problems might not be satisfying. A...

This paper deals with a system where batch arrivals wait in a station until a server (a train) is available, at which moment it services all customers in waiting. This is an example of a bulk server, which has many applications in public transportation, telecommunications, computer resource...

This short paper is a comment on ``Testing for Nonlinear Structure and Chaos in Economic Time Series'' by Catherine Kyrtsou and Apostolos Serletis. We summarize their main results and discuss some of their conclusions concerning the role of outliers and noisy chaos. In particular, we include...