New...
Measuring happiness...
In unstructured online media text, users reveal their emotions in ways analogous to the principle of revealed preference in consumer demand theory. Machine learning techniques can be used to construct real-time measures of sentiment/well-being.
Here is a paper which gives the practical illustration . The Feel Good Factor for London is updated regularly here.
Challenging Rationality...
The rational choice theory of economics still works well in many contexts. But it faces increasing challenges when networks, social influence and emotion are playing an increasing role in decision making. Here is a presentation I gave on the topic to a conference organised by ING bank in Amsterdam.
The Obesity Epidemic
Obesity has become a major problem in the West, highlighted by the Covid crisis. Here is a paper on how obesity in the US has grown rapidly over the past 30 years, along with potential explanations.
Income Inequality
There is still intensive debate about income inequality, and in particular the pay of the top 1 per cent. Here is a piece I contributed to a book on the topic.
Machine Learning
Here are the slides of a keynote presentation I gave to a Bank of England/Federal Reserve conference on better ways to understand economic recessions using machine learning
Recent Posts from the Blog
Recent Conservative governments have been more left wing than Attlee
Here’s a Christmas quiz: Which has been Britain’s most left-wing government? According to Paul Ormerod, it’s not the one you think…. The extended Christmas holidays
It may already be too late for Labour
The popularity of the Labour party has plunged since the election, and history tells that once a certain narrative has taken hold, it’s very difficult
It’s time for England to stop subsidising Scotland and Wales
The devolved nations are living on another planet economically because England essentially pays for their deficits. This has to stop, says Paul Ormerod Every single
