Of Significance Podcast

In this follow-up to our Ample Ramble on Sampling episode, Brent, Nathan and Steve dig into a major sampling issue: non-response bias.

It's one of the most fundamental characteristics of statistics and Steve, Nathan, and Brent work through it with a hint of grace, a touch of dignity, and bit of fun: it's sampling!

Are the kids alright? Are they working hard enough? Steve, Nathan, and Brent break down the drama around summer employment among the youths and talk about some of the summer jobs they used to have.

In a podcast first, Nathan, Steve, and Brent interview false advertising expert, Sush Jain, about how a false advertising claim works, how damages are potentially assessed, and why the market for goods can be so confusing.

Brent, Steve, and Nathan take a look at the age old adage "Correlation does not imply causation" and how people seem to still miss how to think about what factors are related. They become real control freaks when it comes to what goes into their tests.

Brent and Nathan plumb the depths of Steve’s mind to get to the bottom of the question on everybody’s mind: is there anything that Steve Bronars doesn’t know about the unemployment rate? Listen to find out! Spoiler: the answer is “probably."

Nathan, Brent, and Steve finally take on academic elites and their out of control theories about human capital, how it's measured, and whether it's important. Just kidding, this is a classic, balanced episode about human capital in theory and practice that's completely hinged. This episode doesn't just have economics though: it's also got science and art (kind of)!

Problem: You've got to make sure you hire a proportionate distribution from the people applying to your company. Solution: Make a benchmark. Problem: You don't know what the right benchmark is. Solution: Listen to Steve, Nathan, and Brent talk about better ways to think about the characteristics one should be looking for in a benchmark. Problem: Oh wait, there are no other problems...

In the case of Muldrow v. St Louis, the Supreme Court changed the standard required to show discrimination by employers. Brent, Nathan, and Steve chat about how this could change the way we investigate these kinds of cases and Brent has ideas about what companies could be keeping better track of when it comes to employee activity.

Let's get meta right off the bat as Nathan, Brent, and Steve think about how we think about what's important. In this kickoff episode, they dive deep into the different ways things matter or mislead and Steve reminisces about a poll that came out when he was a wee lad.

Edgeworth Economics' new podcast featuring experts Dr. Steve Bronars, Dr. Nathan Woods, and Brent Butgereit premieres soon. Check out our trailer here!