Economists Find Lost Cities Using This Simple Idea
HTML-код
- Опубликовано: 30 сен 2024
- How economists used models of international trade to find lost cities that Indiana Jones and archaeologists couldn't.
📰 Help fight deadweight loss with my free newsletter: marketpower.su...
CORRECTION: The gravity equations in this video should have d-squared in the denominator.
This video is based on the paper:
Trade, Merchants, and the Lost Cities of the Bronze Age
Gojko Barjamovic, Thomas Chaney, Kerem Coşar, Ali Hortaçsu
The Quarterly Journal of Economics, Volume 134, Issue 3, August 2019, Pages 1455-1503
-----------------------------
📽️ Watch these next
✅ How This Simple Idea Transformed Indian Markets
• How This Simple Idea T...
✅ How Economists Can 100x Education in Poor Countries
• How Economists Can 100...
-----------------------------
The Book of Mormon has changed my life, and I'd like to offer you a free copy: www.churchofje...
💵 Watch this for another wild example of a simple idea that shows the power of economics.
ruclips.net/video/ZK4hRlwK8tE/видео.html
Genuinely my favorite part of this video is the disdain for accounting classes. It put a smile on my face.
I take it back. Using the sonar of trade data to find cities is really incredible.
There is a reason why economics is called the queen of social sciences
Small correction: in the equation for the gravitational force, you have to divide by the distance squared, not the distance.
Shoot! Always miss something.
Lucky enough, the idea still remains intact
damn this seems OP, I think it will also be interesting to see how changes (say opening of Suez Canal, discovery of steam engine) cut short the economic distance. I think the same models would also be useful in predicting feasibility of new rail lines/expressways
That is actually so cool. The more I learn about econ the more it seems like it’s really just all about creative, outside the box problem solving
I has always been hoping for a RUclips channel on the field of economics, and thank god I found you. Now I need time to study your videos and enrich my own knowledge. Thank you very much for your efforts.
A Ratio between two distances is traced along a line not circle. Constraint optimization.
This might just be one of my favorite vids of all time.
I will never trust a science that says humans are perfectly rational 😂 Anyway great video. Interesting idea that will certainly be a good new tool in archeologists toolboxes.
Dude WTF haha that's not something said by economics. Those are assumptions to solve problems with focus in some bounded space so we can gain insights and expand it after breaking those assumptions. See models with adaptative expectations for example. Those models break rationality.
Saying that rationality is something affirmed by economics as a science (which is not) is not really understanding methodology and what actually is being affirmed
@@oscarherrera7041 Yeah I was mostly joking. Just something I remembered from someone who was explaining economics and had beef with it.
That said models and initial assumptions do have an impact. While it is normal to simplify a model (since how else can one model something) how you choose to simplify the model can still have a real world impact.
If your starting parameter is that people make the logical decision your outcome will be different than when you assume people always take the worst outcome.
If we are able to backcast, wouldn't we also be able to forecast which cities could become lost cities based on current trade trends? I feel like this really has a lot of potential, very interested to see how it develops!
P r o m o S M ❤️
First
That's super interesting!
Very interesting content🧐👍👏