A question that people ask sometimes is, "What is your favorite paper in topic X written since y?"
It recently struck me that the reason I don't ever give a good answer is that it's a bit like the question, "What is your favorite beam in this building?"
It seeks assessment at the wrong level, both in terms of how most of us experience science, and in terms of what's important for its progress.
But it can take a while to see that!
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This was inspired by this @KevinZollman thread, which I like a lot because it says a similar thing at a different level (and in a different field).
(Although my analogy wouldn't come close to passing muster with a philosopher. Not all papers do the same sort of work as beams, a building comes about very differently from how a body of knowledge does, etc.)
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I'm delighted that this short survey, a labor of love, is forthcoming in Notices of the AMS later this month.
I'll post a few threads over the next few weeks.
Today: why do eigenvectors keep showing up in models of networks and influence?!
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In models that show up in networks, typically some matrix M carries the structure: who affects whom, and by how much.
This appears in settings ranging from opinion dynamics to spillovers in organizations to marketplace regulation, with links meaning different things.
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Once M has encoded the economic structure, spectral theory helps us answer the question:
which patterns persist, amplify, or determine the eventual outcome?
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If you do applied math (broadly - CS, stats, physics, . . .) - a request/freebie:
Refine is a tool that reads papers and finds technical issues, like a referee.
We want researchers in diverse areas to try it.
If you're willing to, read on.
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We'll give you free reviews, useful to stress-test a paper before submission or circulation.
(Users say it's similar to at least 4h of expert reading.)
In exchange, all we ask is you write a brief, fully honest reaction on X, LinkedIn, or any similar platform.
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Then we'll give you more free reviews, which you can keep or give as a gift to others.
If you're interested, please DM me. We'll do about 10 researchers for this first trial.
Conditions: PhD student or later, not in economics/finance/game theory.
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This terribly misguided paper is making the rounds.
This thread is to make it common knowledge what is wrong with it.
The basic thing: all modern economic theory allows for a gap between individual maximization and efficiency, whatever you mean exactly by each of these.
The first welfare theorem (individual optimization implies social efficiency) breaks down in the presence of frictions -
e.g., incomplete markets, asymmetric information, externalities, and market power.
Most economics today is about these frictions.
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Now, the paper has some halfhearted recognition of this, but says, effectively
"Well, you know, there is some meta-stage in which institutions are chosen, and economics assumes that this choice will be made to kill all frictions except the efficient ones."
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