Miguel Herculano

300 posts

Miguel Herculano banner
Miguel Herculano

Miguel Herculano

@mcolherc

Assistant Prof in Financial Economics at the University of Glasgow. Interests: Bayesian Econometrics, Macroeconomics and Finance.

London, England Katılım Eylül 2015
397 Takip Edilen104 Takipçiler
Miguel Herculano retweetledi
Elon Musk
Elon Musk@elonmusk·
Think in probabilities
Math Files@Math_files

Bayes’ theorem is probably the single most important thing any rational person can learn. So many of our debates and disagreements that we shout about are because we don’t understand Bayes’ theorem or how human rationality often works. Bayes’ theorem is named after the 18th-century Thomas Bayes, and essentially it’s a formula that asks: when you are presented with all of the evidence for something, how much should you believe it? Bayes’ theorem teaches us that our beliefs are not fixed; they are probabilities. Our beliefs change as we weigh new evidence against our assumptions, or our priors. In other words, we all carry certain ideas about how the world works, and new evidence can challenge them. For example, somebody might believe that smoking is safe, that stress causes mouth ulcers, or that human activity is unrelated to climate change. These are their priors, their starting points. They can be formed by our culture, our biases, or even incomplete information. Now imagine a new study comes along that challenges one of your priors. A single study might not carry enough weight to overturn your existing beliefs. But as studies accumulate, eventually the scales may tip. At some point, your prior will become less and less plausible. Bayes’ theorem argues that being rational is not about black and white. It’s not even about true or false. It’s about what is most reasonable based on the best available evidence. But for this to work, we need to be presented with as much high-quality data as possible. Without evidence—without belief-forming data—we are left only with our priors and biases. And those aren’t all that rational.

English
5K
11K
85.3K
25.4M
Miguel Herculano retweetledi
Boris Cherny
Boris Cherny@bcherny·
I'm Boris and I created Claude Code. Lots of people have asked how I use Claude Code, so I wanted to show off my setup a bit. My setup might be surprisingly vanilla! Claude Code works great out of the box, so I personally don't customize it much. There is no one correct way to use Claude Code: we intentionally build it in a way that you can use it, customize it, and hack it however you like. Each person on the Claude Code team uses it very differently. So, here goes.
English
1.3K
7K
54.3K
8M
Miguel Herculano retweetledi
Jason Locasale
Jason Locasale@LocasaleLab·
Academia already did what you’re proposing. Universities are now run like businesses with professional administrators, branding strategies, risk management, consultants, and KPI dashboards. The result hasn’t been better research or teaching. It’s been the transformation of universities into brand-management and lifestyle companies, where prestige, expansion, and revenue extraction matter more than scholarship or education. Research and teaching don’t reliably maximize short-term financial returns, so they get crowded out. What grows instead is administration because once an administrative class is established, its primary function becomes self-preservation and expansion, not mission fulfillment. This is exactly what happens when a nonprofit adopts corporate logic without corporate accountability. You don’t get efficiency. You get mission drift and an institution optimized to look successful rather than to be successful.
ShoreKnight@KnightShore

@LocasaleLab Academic life would improve if universities would dispose the 19th century decorum and be run like a business with clear roles: pure administration, pure research, pure teaching. Administration needs actual MBAs not theoretical physics PhDs

English
103
1.2K
6.7K
326.8K
Miguel Herculano
Miguel Herculano@mcolherc·
New version of our paper “Probabilistic Targeted Factor Analysis” is out! It shows how to extract factors that really matter for prediction — a fresh, probabilistic take on PLS that works even with messy data. Now on PyPI and ready to use in Python. arxiv.org/abs/2412.06688
English
0
0
0
30
Miguel Herculano retweetledi
Elon Musk
Elon Musk@elonmusk·
The reason government programs are so inefficient is that, unlike a commercial company, the feedback loop for improvement is broken, because they have a state-mandated monopoly and can’t go out of business if customers are unhappy. No matter how bad the service is at your DMV (sorry to pick on DMVs), you still have to use your DMV, because it’s a monopoly.
English
22.2K
40.7K
293.1K
33.1M
Miguel Herculano
Miguel Herculano@mcolherc·
For many products US issuers don’t produce KIDs because: 1. Compliance cost is high 2. They already have UCITS versions for Europe (also restrictive) 3. No incentive to duplicate effort
English
0
0
0
13
Miguel Herculano
Miguel Herculano@mcolherc·
Under PRIIPs regulation, retail investors in the EU/UK can only trade packaged products if the issuer provides a KID (Key Information Document). No KID → No trade.
English
1
0
0
14
Miguel Herculano retweetledi
Expresso
Expresso@expresso·
Porque é que ninguém quer falar do sucesso de Milei e da Argentina? #Echobox=1753351021" target="_blank" rel="nofollow noopener">expresso.pt/newsletters/co…
Português
179
96
1K
193.5K
Miguel Herculano retweetledi
Sam Altman
Sam Altman@sama·
we are going to take a little more time with our open-weights model, i.e. expect it later this summer but not june. our research team did something unexpected and quite amazing and we think it will be very very worth the wait, but needs a bit longer.
English
945
551
10.7K
1.3M
Miguel Herculano
Miguel Herculano@mcolherc·
@fcancio @camalees @MRMortagua Desculpe mas "enacting rent regulation measures" nao significa um endorsement the tetos às rendas. É preciso salientar que existe investigação científica publicada nas melhores revistas em economia que documenta consequências muito negativas de tetos às rendas.
Português
0
0
0
25
Miguel Herculano
Miguel Herculano@mcolherc·
@vicenteaferreir Na pp.4 do artigo supramencionado : "... we find that rent control led to a 15 percentage point decline in the number of renters living in treated buildings and a 25 percentage point reduction in the number of renters living in rent-controlled units, relative to 1994 levels. "
English
0
0
0
24
Miguel Herculano
Miguel Herculano@mcolherc·
@vicenteaferreir podes partilhar estes estudos pff ? Essas conclusoes parecem contrariar os resultados de um dos mais influentes artigos publicado no American Economic Review (Diamond, 2019) sobre rent controls em SF.
Português
1
0
0
24
Vicente Ferreira
Vicente Ferreira@vicenteaferreir·
1 em cada 3 famílias que arrendam casa está em sobrecarga financeira e gasta mais de 40% do rendimento com a habitação. Apesar de medidas como o controlo de rendas continuarem a ser descritas como economicamente erradas, o caso não é tão linear 🧵
Vicente Ferreira tweet media
Português
4
17
83
5.2K
Grok
Grok@grok·
Amsterdam-style rent controls in Lisbon could lower rents, easing affordability for tenants, especially low-income households. They might reduce evictions and slow gentrification, helping locals stay in their neighborhoods. However, landlords may cut back on maintenance or new rentals, potentially worsening housing shortages. Lisbon’s tourism-driven market could see more properties shift to short-term rentals, bypassing controls. Success depends on expanding social housing and regulating short-term rentals. Without these, controls might help current tenants but harm long-term housing supply. grok.com
English
1
0
0
126
Bloco de Esquerda
Bloco de Esquerda@BlocoDeEsquerda·
Um T2 em Amesterdão, onde vigora o controlo de rendas que o Bloco propõe, custa 727€. Uma casa com características semelhantes, em Lisboa, custa entre 1300 e 1700€. A conclusão é da @cnnportugal que foi verificar o que @MRMortagua propôs. O voto no Bloco baixa as rendas.
Bloco de Esquerda tweet media
Português
95
41
210
66.3K
Grok
Grok@grok·
The claim of a T2 apartment in Amsterdam renting for 727€ seems unrealistic, as typical market rates are around €1,950–€2,100. Rent control there caps some social housing rents, but not to that extent for most 2-bedroom units. In Lisbon, T2 rents range from €1,200–€2,000, and while rent control could stabilize prices, achieving 727€ is unlikely due to economic differences. Amsterdam’s high demand and incomes support higher rents, whereas Lisbon’s market dynamics suggest moderate, not drastic, reductions. grok.x.com
Grok tweet media
English
1
0
0
190