WARP Explained in 10 Minutes
9:52
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@michael.cfa7
@michael.cfa7 2 күн бұрын
Thank you!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 күн бұрын
Im so glad this was helpful thank you for leaving a comment!
@CrazySnake98
@CrazySnake98 5 күн бұрын
Thanks, very helpful videos :)
@InCaseofEconStruggles
@InCaseofEconStruggles 5 күн бұрын
I’m really glad the video was helpful and the comment is really helpful so more people find these videos! Thank you!
@ethannidam2062
@ethannidam2062 6 күн бұрын
at 3:01 why is it that you representing n as 30, did you make a mistake and it should be 30 ?
@InCaseofEconStruggles
@InCaseofEconStruggles 6 күн бұрын
It should match the prior video on NPV sorry about that
@JackStockfish-t9k
@JackStockfish-t9k 7 күн бұрын
thank you so much. Really helped.
@InCaseofEconStruggles
@InCaseofEconStruggles 6 күн бұрын
I’m really glad this was helpful and I appreciate you leaving a comment!
@alicerrias5559
@alicerrias5559 9 күн бұрын
very useful! Thank you so much for the wonderful video!
@InCaseofEconStruggles
@InCaseofEconStruggles 8 күн бұрын
I’m really glad it was useful thank you so much for the comment!
@michael.cfa7
@michael.cfa7 9 күн бұрын
Thank you so much!
@InCaseofEconStruggles
@InCaseofEconStruggles 8 күн бұрын
I’m glad it was helpful and thank you for leaving a comment!
@soon6464
@soon6464 10 күн бұрын
question: old bundle (24,40), new bundle (20,60) old price (50,20), new price (80,25) chosen: old bundle+old price , new bundle+new price is there violation of warp in this question? because old price+new bundle was unaffordable so it wasn't chosen, but new price+old bundle is now affordable
@InCaseofEconStruggles
@InCaseofEconStruggles 9 күн бұрын
Based on those prices we would assume that the money you had to spend increases from the old period to the new period because the new bundle at the new prices costs more than the old bundle at the old prices exactly as you point out so this is not a warp violation. Good question though!
@soon6464
@soon6464 9 күн бұрын
@ thanks it helps a lot😁
@InCaseofEconStruggles
@InCaseofEconStruggles 9 күн бұрын
Awesome I’m glad that helped!
@bob4billion698
@bob4billion698 10 күн бұрын
terrible explanation
@InCaseofEconStruggles
@InCaseofEconStruggles 9 күн бұрын
I’m sorry to hear this wasn’t helpful. Was there anything in particular that was confusing or you wish was explained better or just overall didn’t help you that much?
@TommysLabHours
@TommysLabHours 22 күн бұрын
Every modern masters/phd macro professor should skip their lectures on Bellmans and link to this video instead! so clear and concise, thank you!
@InCaseofEconStruggles
@InCaseofEconStruggles 22 күн бұрын
I’m really glad you found this helpful! Feel free to share this video and my channel with classmates or other professors as resources for students!
@bap8247
@bap8247 23 күн бұрын
Hello! When I solve for q1* I get (a-c)/3b, could you clarify this please?
@InCaseofEconStruggles
@InCaseofEconStruggles 23 күн бұрын
Let me double check my math and get back to you. In the meantime does the conceptual aspect make sense or is that also something you’re unsure about?
@InCaseofEconStruggles
@InCaseofEconStruggles 22 күн бұрын
Could you clarify where in your math we don’t align so I can better help you?
@chinhhoang454
@chinhhoang454 23 күн бұрын
This keeps getting better and better. Thank you so much and please keep up!
@InCaseofEconStruggles
@InCaseofEconStruggles 23 күн бұрын
I’m glad it’s helpful please feel free to share with others in your program!
@chinhhoang454
@chinhhoang454 24 күн бұрын
Thank you! this helps me a lot as a 1st year PhD student
@InCaseofEconStruggles
@InCaseofEconStruggles 24 күн бұрын
I’m so glad this was helpful and thank you so much for leaving a comment!
@HenryMorfit
@HenryMorfit 29 күн бұрын
Saving my ass for my quiz tomorrow for my econ class at princeton
@InCaseofEconStruggles
@InCaseofEconStruggles 28 күн бұрын
I’m glad you found these videos helpful and I appreciate you leaving a comment!
@ljubennajdovski9267
@ljubennajdovski9267 Ай бұрын
Thank you king!
@InCaseofEconStruggles
@InCaseofEconStruggles 29 күн бұрын
Thank you for the comment I’m glad it was helpful!
@FZS309
@FZS309 Ай бұрын
Requesting a video lesson on Computable General Equilibrium
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I’ll add it to my list! Thanks for the suggestion/request!
@Dreamclose
@Dreamclose Ай бұрын
Okay i like it
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
Thank you for the comment I appreciate it and I’m glad this video was helpful!
@DrakeAdams-ni2zd
@DrakeAdams-ni2zd Ай бұрын
Your graphical depiction of the substitution effect is wrong. The substitution effect records changes in relative prices and how that affects the cheapest bundle which reaches the same original utility. Because relative prices are changing, the slope of budget constraint should change. Because we we want to be at the same utility, the budget constraint should be shifted to be tangent with the original indifference curve. Substitution effect is concerned with expenditure minimization at a certain utility and prices. The income effect, on the other hand, records how the optimal bundle changes with changes in real income / wealth. While this could be changes in relative prices, it could also be proportional changes in prices. If we want to isolate income effect though, we focus only on proportional changes in prices. Graphically the income effect shows how making any change to the budget line (slope or parallel shift) affects the utility maximizing bundle (therefore utility can change therefore we can intersect a difference indifference curve). Income effect is concerned with utility maximization at a certain wealth and prices.
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I agree with your written description of the substitution versus income effect and how they should be depicted on this graph, and agree I don't make that clear in the video. Thank you for catching that! I have pinned your comment so that others can read this until I can upload an updated video where I make sure my explanation is clear and correct. Thank you again for pointing this out!
@carrie-xi5kw
@carrie-xi5kw Ай бұрын
Brilliant, clear, and applicable explanation. Thank you!!
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I’m so glad this was helpful thank you for leaving a comment!
@lucasdallaverde9009
@lucasdallaverde9009 Ай бұрын
Great video!!!
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
Thank you so much I’m glad this is helpful!
@BrownConnor
@BrownConnor Ай бұрын
explain better than my professor!
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I am glad this was helpful and I appreciate you leaving a comment!
@jimekx
@jimekx Ай бұрын
I'm not an econ student but i came across the term while trying to read a paper and you made it real easy to understand, thank you!
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I’m glad this was helpful for you and I really appreciate you leaving a comment, thank you!
@wosiknatalia4469
@wosiknatalia4469 Ай бұрын
Sooo helpful, thank you!
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I’m glad it was helpful thank you for leaving a comment!
@wanokuni5548
@wanokuni5548 Ай бұрын
How do we know that F H A E C G were affordable initially?
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
That is exactly the issue! I posted an updated warp video (it’s currently the newest video) and I will drop a link below where I corrected that error. Im glad you were able to see that
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
Here is the updated version: kzbin.info/www/bejne/oZnTnZ58nKmkqq8
@wanokuni5548
@wanokuni5548 Ай бұрын
​@@InCaseofEconStruggles Thank you for the clarification
@juanmanuellunalopez6956
@juanmanuellunalopez6956 Ай бұрын
This is great, thanks!
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I’m glad this was helpful thank you for leaving a comment
@prachiagarwal5674
@prachiagarwal5674 Ай бұрын
Thank you, this is quite useful !
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I’m glad this was helpful thank you for leaving a comment!
@lipca
@lipca Ай бұрын
u are godsent
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I’m glad it was helpful and thank you for leaving a comment!
@ChengxuanLi-z3e
@ChengxuanLi-z3e Ай бұрын
best explanation even in the whole KZbin
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
Thank you so much I’m glad this is helpful! Feel free to share with classmates and I appreciate the comment!
@safwanalsulami7967
@safwanalsulami7967 Ай бұрын
Your videos are amazing. If you can show us how to make unit root tests table for time series and export it to Latex 🙏
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
Did you have a particular unit root test in mind?
@safwanalsulami7967
@safwanalsulami7967 Ай бұрын
@@InCaseofEconStruggles ADF test, PP test, and Agumnted Dickey-Fuller test tests.
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I’ll start with the Augmented DF and then if that same type of code doesn’t work I can do other ones
@safwanalsulami7967
@safwanalsulami7967 Ай бұрын
@@InCaseofEconStruggles thank you very much. I remember that we can do all of them in one command.
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
I would definitely know how to add those statistics as scalars to the regression output if that’s what you were thinking
@Adonisacademy_afiliate
@Adonisacademy_afiliate 2 ай бұрын
Very informative 👍
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I’m glad it was helpful!
@zhueva6612
@zhueva6612 2 ай бұрын
Hi, Can I ask how to add table description before the table. For example, you add note to the bottom of the table, is there a way I could add before? Thanks!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
Do you mean add a note to the table in the stata code or like define it before the add note command?
@zhueva6612
@zhueva6612 Ай бұрын
@@InCaseofEconStruggles add a note to the table in Stata before the table output. For example, in the paper, we don't just put out the table, we often a table description like: This table presents xxx
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
Oh I see I think that is best to do in latex like that is language you want to change more often than the table and that’s part of writing the paper more than the table
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
There are ways in latex to reference the table number automatically
@zhueva6612
@zhueva6612 Ай бұрын
@@InCaseofEconStruggles yes yes you are right, then I will stick to my note added in latex. Thank you for your help and time!
@samir540
@samir540 2 ай бұрын
Thank you!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I’m glad this was helpful thank you for the comments!
@LakshimiSwaminathan-yv8re
@LakshimiSwaminathan-yv8re 2 ай бұрын
I want to tell you that you made such an esoteric concept seem so simple to understand! Thanks so much!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I’m so glad this was helpful thanks for leaving a comment!
@ioasisss
@ioasisss 2 ай бұрын
I'm strugging first year PhD micro and you are saving my life
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I’m so glad this is helping you!
@hananalbakri-o5d
@hananalbakri-o5d 2 ай бұрын
thank you
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
Thanks for leaving a comment I’m glad it was helpful!
@shangyigao
@shangyigao 2 ай бұрын
very clear!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I’m glad it was helpful thank you for leaving a comment!
@tajinderpalmultani4732
@tajinderpalmultani4732 2 ай бұрын
Great video, thank you !
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I’m so glad it was helpful thank you for leaving the comment!
@gaiagaudenzi6494
@gaiagaudenzi6494 2 ай бұрын
isn't x*_2=w/2p_2?
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
Yes they should both be 1/2* w/pi
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
TEMPRARY CORRECTION (Until I upload an updated corrected version): In the graphical example, there's no reason why F, H, A, and E can't be picked with the new constraint. Even though the green dot is revealed preferred to those points, it would only violate WARP if those points were then picked when the green dot was available, which it is not under the new constraint. Sorry for the error and I will have a corrected version up soon!
@InCaseofEconStruggles
@InCaseofEconStruggles Ай бұрын
Here is the updated version: kzbin.info/www/bejne/oZnTnZ58nKmkqq8
@zhueva6612
@zhueva6612 2 ай бұрын
really helpful, thank you!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I’m glad it was helpful! I hope the other videos in the series were also helpful but feel free to let me know if there was something you were looking for and couldn’t find!
@RyanHo-ho7yj
@RyanHo-ho7yj 2 ай бұрын
Great video! I'm currently struggling with the OLG models as well. Could you make a video regarding the offer curves derived from Gale(1973) and talk about the 3 cases (Samuelson, Classical and Knife-edge)? Very appreciate!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I would need to look into those to really understand them but yes I will add that to my research list to look at!
@paulsilva627
@paulsilva627 2 ай бұрын
Hello Case! I have found your videos to be extremely helpful. Thanks for making them! I am having trouble exporting results from two types of models: bivariate probits (biprobit) and heckman probit models (heckprobit) in Stata. In particular, I want to report the different stages as different columns rather than just having the first stage reported below the second stage (for the heckman model for example). If you could make a video helping me out here that would be great.
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
Hey Paul I’m glad you are finding these videos helpful! I will look into both of those and see what I can come up with!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
If you use the option unstack and drop(/:) that should work! Example code below: webuse school eststo test: biprobit private vote logptax loginc years esttab test, unstack drop(/:) Does that work for your code?
@paulsilva627
@paulsilva627 2 ай бұрын
@@InCaseofEconStruggles This was helpful. Thank you! Separately, if I have a really long note it forces my column on the far right to be too far way from nearest column. Is there a way to make a note that is really long, and therefore wide, to appear on two lines?
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
@paulsilva627 you have two options. One is to split it in the stata code itself into two lines. The other option is to use the addnote option. I’ll make a video about that as well
@paulsilva627
@paulsilva627 2 ай бұрын
@@InCaseofEconStruggles Great!
@conneryates5073
@conneryates5073 2 ай бұрын
also programmers everyday
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I can only imagine! Even with stata I feel this reading people’s code
@bomo9710
@bomo9710 2 ай бұрын
Is it bad that I know the exact context of this clip
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
Not at all that makes the meme better in my opinion!
@genv9619
@genv9619 2 ай бұрын
Thanks, very helpful!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
I’m glad this was helpful and I really appreciate you taking the time to leave a comment!
@benjaminkjaerhansen4733
@benjaminkjaerhansen4733 2 ай бұрын
I get the intuition behind SOSD, but I don't get the definition because F's area under the curve is bigger G's area under the curve after x=20, can you explain why the definition is still true.
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
Remember that it’s the cumulative area under F versus the cumulative area under G. I do have a mistake where my integrals should start at - infinity not at 0. Starting at x=20 the cumulative difference in areas starts shrinking but the cumulative area under G is always greater than or equal to the cumulative area under F. Does that help?
@benjaminkjaerhansen4733
@benjaminkjaerhansen4733 2 ай бұрын
It does, thank you very much.😄
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
@benjaminkjaerhansen4733 awesome I’m glad that helps! Great question and glad the video was helpful!
@Bill_in_your_econ_models
@Bill_in_your_econ_models 2 ай бұрын
12/10 shameless plug
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
its a bold strategy for sure Cotton
@anna27327
@anna27327 2 ай бұрын
Wow ! million thanks for this clear explanation !!
@InCaseofEconStruggles
@InCaseofEconStruggles 2 ай бұрын
Thank you so much! I’m glad it was helpful and I appreciate you leaving a comment!
@ladoputi-n8j
@ladoputi-n8j 3 ай бұрын
What a nice explanation! Subscribed
@InCaseofEconStruggles
@InCaseofEconStruggles 3 ай бұрын
I’m glad this was helpful and I appreciate you leaving a comment!!
@NG_GN
@NG_GN 3 ай бұрын
Thank you for a clear and concise explanation, this is exactly what I needed, I can't thank you enough, really appreciate it
@InCaseofEconStruggles
@InCaseofEconStruggles 3 ай бұрын
I’m glad this was helpful and great question!
@diegoqc4241
@diegoqc4241 3 ай бұрын
Thank you very much!
@InCaseofEconStruggles
@InCaseofEconStruggles 3 ай бұрын
I’m so glad this was helpful! Thanks for taking the time to leave a comment!