nhaliday + high-variance   43

Are Risk Aversion and Impatience Related to Cognitive Ability?
relevant thread (discussion of Matt Bruenig's passive income thing): https://twitter.com/GarettJones/status/815644778641571842
other study: https://www.aeaweb.org/articles?id=10.1257/089533005775196732

Our main finding is that risk aversion and impatience both vary systematically with cognitive ability. Individuals with higher cognitive ability are significantly more willing to take risks in the lottery experiments and are significantly more patient over the yearlong time horizon studied in the intertemporal choice experiment. The correlation between cognitive ability and risk aversion is present for both young and old, and for males and females, although the relationship is somewhat weaker for females and younger individuals.
study  economics  spearhead  behavioral-econ  psychology  cog-psych  iq  🎩  multi  risk  rationality  cracker-econ  econotariat  discipline  twitter  social  field-study  values  time-preference  hive-mind  garett-jones  decision-making  wonkish  objective-measure  s:*  commentary  high-variance  investing  patience  outcome-risk  stylized-facts  broad-econ  wealth  s-factor  chart  wealth-of-nations  microfoundations 
january 2017 by nhaliday
Deliberate Grad School | Andrew Critch
- find a flexible program (math, stats, TCS)
- high-impact topic
- teach
- use freedom to visibly accomplish things
- organize seminar
- get exposure to experts
- learn how productive researchers work
- remember you don't have to stay in academia
academia  grad-school  advice  phd  reflection  expert  long-term  🎓  high-variance  aphorism  hi-order-bits  top-n  tactics  strategy  ratty  core-rats  multi  success  flexibility  metameta  s:*  s-factor  clever-rats  expert-experience  cs  math  stats  machine-learning 
may 2016 by nhaliday
Non-Dual Awareness | Slate Star Codex
Seen on Lauren’s Facebook: How Does Academia Resemble A Drug Gang?

Their answer is that both academia and drug gangs are marked by an endless supply of foot soldiers willing to work in terrible conditions for a small chance at living the good life. In drug gangs, the average street-corner dealer makes $3-something an hour; given that he’s got a high chance of being arrested or shot, why doesn’t he switch to McDonalds instead where the pay’s twice as good and the environment’s a lot safer? The article suggests one reason is because drug gangs offer the chance of eventually becoming a drug kingpin who is drowning in money.
economics  academia  phd  career  uncertainty  yvain  grad-school  essay  long-term  len:long  ssc  ratty  high-variance 
april 2016 by nhaliday

bundles : biznessvague

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