Truncated normal is not normal

In my research I have to deal with many Monte-Carlo simulations of normalized variables that fall in the interval $\left[ 0, 1 \right]$. By the Central Limit Theorem I can...

Global maxima in fitness landscapes

This blog post states a problem, does not provide any solutions. This is a high form of whining.

Two-sided matching with time preferences

Simulations in economics

Contents 1. Introduction 2. Recap 3. Applications 4. Discussion 5. Conclusion

My take on the famous medical appointment no-show problem

Contents 1. Introduction 2. Data exploration 3. Classifier 4. Conclusion

Using matching with quotas to solve Hajj visa problem

Contents 1. Introduction 2. The problem 3. Solution

Valuation Calculator for Subscription-Based Businesses

Last summer I worked on a project that used Daniel McCarthy, Peter Fader and Bruce Hardie’s valuation model, described in their paper “Valuing Subscription-Based Businesses Using Publicly Disclosed Customer Data”...

The future of economic publishing

I finished my thesis on Financial Economics at the beginning of this summer. I performed simulations for different investment strategies for Turkish households, to see which investment option is the...

Why don't more economists get hired as data analysts?

Why academics won't hire consultants

Simulating Likert scale data in R

In my last project I had to find theoretical limits for a psychometric index involving Likert scale data (aka categorical data). After successfully finding it, I decided to test the...

In quest of the ultimate investment advice

Contents 1. Introduction 2. Early days 3. Dark ages 4. New wave 5. End of history

Object-oriented Game of Life in Python

Intro I have been planning to build a superior GUI alternative to NetLogo for a long time. When I finally started working on a project, I decided to test the...

Bitcoin forgot its roots. Should we tax it?

Bitcoin was invented and became popular first within a crypto community whose members were predominantly influenced by the so-called “hacker culture”.

Utility tokens: discussion, economic model and simulation in R

This post has been originally published in HackerNoon. Click here to read the original.

Library of Bogazici University

Library is located in North Campus: Фасад Библиотеки

Factor Analysis and Uniform distributions

To learn about product decomposition of uniform distribution click here or keep on reading

This is how you should never end your blog posts

Almost every blogging tutorial suggests you to end your posts with the so-called CTAs (call-to-action). They say that encouraging your readers to comment will help to promote your blog. Most...

Business education needs a dose of pessimism

Undergraduate business education faces a lot of criticism spanning from lack of practical training to philosophical arguments that management shouldn’t be taught at undergraduate level at all. I cannot change...

Introducing Panel FMOLS/DOLS command for Stata

Last week I was hired to perform a thorough analysis of a panel dataset for export dynamics of different sectors in a country. I had never done panel econometrics before...

Why is econometrics focused on linear models?

Econometrics is a separate discipline from statistics/probability/machine learning for a reason. The primary aim of econometrics and economics in general is interpretability. Economists could easily build very realistic models with...

Using impulse response functions to interpret partial effects in neural networks

This week I’ve been working on a research paper based on a very simple idea which, hopefully, can solve an important problem in applying machine learning techniques in economics — the interpretability....

Undergraduate business degree is a waste of time

I believe that undergraduate business education is the most useless degree. Having received one myself, I can tell you that every single topic they teach can easily be learned by...

Transform Excel into a translation tool using this VBA macro

A brief preface This summer I did an internship at BSH Hausgeräte (aka Bosch and Siemens Home Appliances), where I built a lot of amazing tools on Excel using VBA...