It's eye-opening that the salary of an adjunct faculty member at Cal with 100% appointment with classes taught to 1.5K+ students (CS61A) is less than the tuition fees of 8 students.
93 karma · joined October 3, 2013
It's eye-opening that the salary of an adjunct faculty member at Cal with 100% appointment with classes taught to 1.5K+ students (CS61A) is less than the tuition fees of 8 students.
Giving producers and consumers a way to get a standardized contract at a given point ahead in time usually makes the price of the underlying commodity much more stable.
It has been argued that the way our society operates is based on the concept of futures contracts. It all began with the Dutch tulip futures in the 17th century that stabilized flower prices and made them a viable business: https://en.wikipedia.org/wiki/Tulip_mania
Any alpha that is not fully correlated to existing alpha is worth its weight in gold for an organization with the size, sophistication and complexity of JS. That's part of the reason why efforts such as 2Sigma's Alpha Studio exist: https://alphastudio.com/
In this case, futures contracts for those commodity have helped tremendously lower the volatility and make everybody more responsible. It's a good question if the same is going to happen with futures contracts for crypto
Philosophers' stones in the early twenty-first century Correlation, partial correlation, cross lagged correlation, principal components, factor analysis, OLS, GLS, PLS, IISLS, IIISLS, IVLS, LIML, SEM, HLM, HMM, GMM, ANOVA, MANOVA, Meta-analysis, logits, probits, ridits, tobits, RESET, DFITS, AIC, BIC, MAXNET, MDL, VAR, AR, ARIMA, ARFIMA, ARCH, GARCH, LISREL[...]...
The modeler's response We know all this. Nothing is perfect. Linearity has to be a good first approximation. Log linearity has to be a good secont approximation. THe assumptions are reasonable. The assumptions don't matter. The assumptions are conservative. You can't prove the assumptions are wrong. The biases will cancel. We can model the biases. We're only doing what everybody else does. Now we use more sophisticated techniques. If we don't do it, someone else will. What would you do? The decision-maker has to be better off with us than without us. We all have mental models. Not using a model is still a mode. The models aren't totally useless. You have to do the best you can with the data. You have to make assumptions in order to make progress. You have to give the models the benefit of the doubt. Where's the harm?