## Model Citizenry

(aka. “America’s Next Top Model”)

If you have been watching the U.S. Coronavirus Task Force briefings, you know that Dr. Birx (“Debbie” LOL) is emerging as a key player. In case you missed yesterday’s, watch this for a minute or two:

Apparently, our experts were unhappy with the model from Imperial College, so they […]

## Good news and bad news

First, the bad news. Here is an epidemiological paper from Imperial College London that has been making the rounds. They base their conclusions on their models, which they claim are robust against modest changes in their assumptions. See also this profile of the principal author.

They say if we take sufficiently draconian measures to get […]

## Get the data

The derivative of an exponential is an exponential. So when the graph of total cases has the same shape as the graph of its day-over-day change (first derivative), and the same shape as the increase in day-over-day change (second derivative), and so on… We are in the exponential phase.

## Yes, testing is important

I have heard and read some people saying that testing for the coronavirus is not very important. They usually seem to have a physician friend who told them something like this: “I do not need to test anyone because the results are not actionable. We have no pharmaceuticals, and we are not going to intubate […]

## Prediction Markets and the Kelly Criterion, Part 5

Perhaps the most famous proponent of the Kelly Criterion is Edward Thorp. He founded the M.I.T. Blackjack Club, published various papers on gambling and investing, and became both a professor of mathematics and a billionaire investor. The Kelly Criterion played a key role in most of these; he dubbed it “Fortune’s Formula”.

Thorp has authored […]

## Prediction Markets and the Kelly Criterion, Part 4

I changed my mind; I want to stick with my toy example just a little bit longer.