The classic paper, “The central role of the propensity score in observational studies for casual effects“ by Rosenbaum & Rubin, is cited in many of the applied econometrics papers that deal with causality. In a randomized experiment, the outcome of the treated group and control group can be directly compared because the groups are likely to be similar. In an observational study, one does not have this luxury and in almost all the cases, the treated group and the control group vary in their composition.

The paper titled, “The causal impact of algorithmic trading on market quality”, written by Nidhi Aggarwal and Susan Thomas, systematically identifies the casual relationship between Algorithmic trading intensity and market quality features in the Indian markets. In this post, I will briefly summarize the contents of the paper : What is the paper about ? How does algorithmic trading (AT) affect the quality of securities markets ? is something that is always discussed/ analyzed/ debated by old and new market participants.

This book is a TED book, i.e. a book paired with a TED talk so that ideas mentioned in the talk are explored in a little more detail. At the same time, TED books are intended to be short so that one can comfortably read it one sitting. This book is about 75 pages. The author gives various anecdotes from his life and encourages the reader to find “Nowhere” in one’s daily/weekly schedule so as to practice “Stillness”.

This book is mainly targeted towards R-newbies who have managed to learn some basic R syntax and are looking for some guidance on writing functions in R. The key idea that one needs to understand before writing functions is the way R organizes objects in various environments. The author explains this idea using the analogy of “file system in a computer”. The book uses two examples, 1) shuffling a deck and dealing cards from it 2) simulating the outcomes of a slot machine.

How have we arrived, in the relatively prosperous developed world, at least, at a cultural moment which values autonomy, personal freedom, fulfillment and human rights, and above all individualism, more highly than they have ever been valued before in human history, but at the same time these autonomous, free, self-fulfilling individuals are terrified of being alone with themselves? Think about it for a moment. It is truly very odd.