2/ "Instead of simply asking what mask & non-mask wearers think of each other, we look at how information about others’ mask-wearing behavior influences cooperation when real money is at stake.
"We recruited an even distribution of subjects from different political affiliations.
3/ "Our experiment consisted of two main stages of incentivized Prisoner’s Dilemma (PD) games with & without subjects knowing their partners’ mask usage.
"Each subject’s answer to a hypothetical scenario was used to classify her as a mask wearer (MW) or a non-mask wearer (NMW).
4/ "There is a possibility that face masks signal both cooperation and social identity, in which case the opposing effects may cancel out. However, we should continue to observe mask wearers cooperating more when playing against another mask wearer where both H2 and H3 are true."
5/ "There is little evidence to support H1 (that mask wearers are intrinsically more cooperative than non mask wearers when information about their own and the other person’s mask usage is not salient)."
6/ Panel 1: "Eliciting mask usage after the first stage, which would have made their own mask-wearing behavior salient, did not affect cooperation. This suggests participants do not hold stereotypical views about how mask or non-mask wearers should behave in a social dilemma.
7/ Panels 2 and 3: "Mask wearers seemed to treat other mask wearers as in-group members and non-mask wearers as out-group members, and vice versa for how non-mask wearers treated other non-mask wearers and mask wearers.
8/ "Results continue to be robust after controlling for gender, age, ethnicity, the political party supported, education, household income, the exchange rate, and the order of the PD games.
9/ "Compared to facing an anonymous partner, mask wearers’ cooperation rates were 7 percentage points (p<0.001) higher when facing a mask-wearing partner and 25 pp (p<0.001) lower when facing a non-mask wearing partner. The difference of 32 pp is significant in a t-test, p<0.001.
10/ "Non-mask wearers’ cooperation rates were 14 pp (p = 0.063) lower when facing a mask-wearing partner and 3 pp (p = 0.634) higher when facing a non-mask-wearing partner, compared to facing an anonymous partner. The difference of 17 pp is significant in a t-test, p = 0.033.
11/ "Elicited expectations at the end of the experiment about the mask and non-mask wearers’ willingness to cooperate and their altruism towards them are strongly correlated with participants’ cooperation during the experiment itself."
12/ "98% of Democrats identified themselves as mask wearers compared to 88% of Independents & 84% of Republicans. These differences are sizable and stat. significant; we can reject the null hypothesis that the average mask usage is the same across all 3 political affiliations.
13/ "The bias towards mask wearers over non-mask wearers was highest among Democrats, followed by Independents, and then Republicans. Likewise, the bias towards mask wearers over non-mask wearers decreases with how conservative participants think of themselves."
14/ "Non-mask wearers were 21 pp (p=0.002) less likely to cooperate than mask wearers when facing a mask wearer & 25 pp (p<0.001) more likely than mask wearers when facing a non-mask wearer even accounting for the interaction between political affiliation and partner mask usage."
15/ "While there is evidence that political identity drives some of our earlier results of social identity effects associated with face mask usage, we cannot attribute the entire effects to the hypothesis that face masks are a pure signal of political identity.
16/ "There is still a residual effect that cannot be accounted for by the political identity, which implies that face masks also carry an identity, one that is distinct from political identity.
17/ "Given recent discussions on vaccine passports and getting those who have been vaccinated to wear a sticker visible to others, our results suggest that such efforts might lead to the unintended politicization of vaccinations and undermine large-scale vaccination efforts."
1/ Moneyball: The Art of Winning an Unfair Game (Michael Lewis)
"Baseball was at the center of a story about the possibilities—and limits—of reason. It showed how an unscientific culture responds (or fails to respond) to the scientific method." (p. xiv)
2/ "A small group of undervalued professional players & executives, many of whom had been rejected as unfit for the big leagues, turned themselves into one of the most successful franchises.
"How did one of the poorest teams, the Oakland Athletics, win so many games?" (p. xi)
3/ "Hitting statistics were abundant & had, for James, the powers of language. They were, in his Teutonic coinage, 'imagenumbers.' Literary material. When you read them, they called to mind pictures. He wrote... 'To get 191 hits in a season demands (or seems to) a consistency...
3/ "Value, momentum & defensive/quality applied to US individual stocks has a t-stat of 10.8. Data mining would take nearly a trillion random trials to find this.
"Applying those factors (+carry) across markets and asset classes gets a t-stat of >14."
2/ "The model's four terms describe different life stages for an individual who marries during the sample period. The intercept reflects the average life satisfaction of individuals in the baseline period [all noncohabiting years that are at least one year before marriage]."
3/ " 'How satisfied are you with your life, all things considered?' Responses are ranked on a scale from 0 (completely dissatisfied) to 10 (completely satisfied).
"We center life satisfaction scores around the annual mean of each population subsample in the original population."
1/ Short-sightedness, rates moves and a potential boost for value (Hanauer, Baltussen, Blitz, Schneider)
…
* Value spread remains wide
* Relationship between value and rates is not structural
* Extrapolative growth forecasts drive the value premium
… robeco.com/en-int/insight…
2/ "The valuation gap between cheap and expensive stocks remains extremely wide. This signals the potential for attractive returns going forward."
3/ "We observe a robust negative relationship between value returns and changes in the value spread.
"The intercept of ≈10% can be interpreted as a cleaner estimate of the value premium, given that it is purged of the time-varying effects of multiple expansions & compressions."