Thank you for this, I've been having issues with linear models and this video helped me understand how R works with categorical variables which I had been thinking about all wrong. From 12 years in the future, thanks a ton :)
I am watching all your videos for recapping concepts and they are very useful. In this very concrete one though, I find disturbing the idea that there are two prices (one for the consumers, another for the producers), as it is firmly embedded in my mind that the price should be unique! I understand the idea that the producers do not get the full final price the consumers pay, as there is the tax wedge. Well, it is just a matter of how we decide to name things. Many thanks for the great videos!
where do you live ? I want to send you Kebab from Turkey. You are more important than %80 of the people in my life. Love you. Its been 12 years you uploaded this video. Everybody hyped with the AI right in the moment. This is the basics of statistics. This is the soul of AI.
Thank you very very very much! You explained so well, so simple. I have been watching so many videos and couldn't get such a clear explanation. Thanks a lot!
well, people are very well acquainted nowadays with probability theory, this is why they are more inclined to take an dynamic or sequence of fair gambles than a single fair gamble game. At least, now you have the answer to put it in your next paper.
why do we say that y is dependent on x? I get that we you the chain rule here and that both differentiation together must be zero to be on the same utility level. I saw another way to get there with the total differential, where is the difference to your way? dU = dU/dx * dx + dU/dy * dy = 0 if we solve this we also get: -dy/dx = MUx/MUy
This has to be one of the best explanations on how to look at game theory so far. I was so confused about it all. But watching this guy, the lightbulb in my head went off. Thanks!
