Weekend Reads

Eric Fruits —  8 June 2018 — 1 Comment

Innovation dies in darkness. Well, actually, it thrives in the light, according to this new research:

We find that after a patent library opens, local patenting increases by 17% relative to control regions that have Federal Depository Libraries. … [T]]he library boost ceases to be present after the introduction of the Internet. We find that library opening is also associated with an increase in local business formation and job creation [especially for small business -ed.], which suggests that the impact of libraries is not limited to patenting outcomes.

Patent-Libraries

Don’t drink the Kool-Aid of bad data. Have a SPRITE. From the article published by self-described “data thugs“.

Scientific publications have not traditionally been accompanied by data, either during the peer review process or when published. Concern has arisen that the literature in many fields may contain inaccuracies or errors that cannot be detected without inspecting the original data. Here, we introduce SPRITE (Sample Parameter Reconstruction via Interative TEchniques), a heuristic method for reconstructing plausible samples from descriptive statistics of granular data, allowing reviewers, editors, readers, and future researchers to gain insights into the possible distributions of item values in the original data set.

Gig economy, it’s a good thing: 6.9% of all workers are independent contractors; 79% of them prefer their arrangement over a traditional job.

Gig economy, it’s a bad thing. Maybe.

[C]ensus divisions with relatively weak wage inflation also tend to have more “low-wage” informal FTE—that is, more hours of informal work performed at a wage that is less than formal pay.

Broetry. It’s a LinkedIn thing. I don’t get it.

 

 

Eric Fruits

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Eric Fruits, Ph.D. is Chief Economist at the International Center for Law & Economics and Economics International Corp. He is the Oregon Association of Realtors Faculty Fellow at Portland State University. He has written peer-reviewed articles on initial public offerings (IPOs), the municipal bond market, real estate markets, and the formation and operation of cartels. His economic analysis has been widely cited and has been published in The Economist and the Wall Street Journal. Dr. Fruits is an antitrust expert who has written articles on price fixing and cartels for the top-tier Journal of Law and Economics. He has assisted in the review of several mergers including Sysco-US Foods, Exxon-Mobil, BP-Arco, and Nestle-Ralston. He has worked on many antitrust lawsuits, including Weyerhaeuser v. Ross-Simmons, a predatory bidding case that was ultimately decided by the United States Supreme Court. As an expert in statistics, he has provided expert opinions and testimony regarding market manipulation, real estate transactions, profit projections, agricultural commodities, and war crimes allegations. His expert testimony has been submitted to state courts, federal courts, and an international court.

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