A quick and simple introduction to one of the hottest topics in the field of Economics. The field of Economics was once considered boring and mundane, but not anymore. The field has garnered quite the popularity thanks to the rise of Behavioral Economics - a revolutionary idea that started a…

Gone are the days when creating good models is the only thing that we care about. With readily consumable opensource projects and automated machine learning, we are moving towards auditing ML models where explainability is an important aspect. In this article, we will be exploring a game theoretic approach of…

We are living in interesting times as data scientists. We have seen the exponential growth of cloud technologies and AutoML. All of a sudden, everyone can be a data scientist — it is no longer necessary for someone to have an MSc or Ph.D. degree unless the role involves specific…

Distance measures (or metrics if we want to be strict about it) are very important in the field of machine learning. They are utilised both in supervised and unsupervised algorithms. The mastery over distance measures allows machine learning scientists to create better models and novel solutions. Take the counterfactuals for…

Ah, the classic p-value. The concept of hypothesis testing and p-value is very familiar to all of us. We were first taught about it in high school and again, in the university if we took fundamental statistics. At first glance, it seems like all powerful and reliable tools that one…

A comprehensive and simple guide to the field of auction theory The year 2020 was a big year for applied economics. It was the year when two brilliant minds - Paul Milgrom and Robert B. Wilson were announced as the recipients of The Sveriges Riksbank Prize in Economic Sciences in…

Vickrey auction is known for its “too good to be true” property. This type of auctions is designed in such a way that bidders will bid at their true valuations. In other words, they will not lie! How does that even work? …