Monthly Archives: November 2014

25.8% = 12.1% = 4.8%.. if you’re the Sunday Independent

So today the Super Soaraway Sindo has a breathess shock horror piece about academic salaries. The headline is  “25% of university academics earn more than 100k”

Lets see.

The numbers appear to refer to the sector as a whole. 1093 people earn more than 100k. But the sector as a whole has (as from p 41) 22648 persons, of whom 9056 are academic.

So, 1093 / 4229 = 25.8% but 1093 / 9056 = 12.1% and indeed 1093 / 22638 = 4.8%

Which makes a better headline? Why would the Sindo mislead?

Its also notable that the same SuperSindo has not deigned to comment one way or another on the recent reports on the impact of the Higher Education sector. Now, im sure that that was an oversight. I mean, they wouldnt have an agenda or anything would they?

Screenshot 2014-11-23 09.23.52

Stop talking down the economy (even though nobody is listening)…

The debacle surrounding Irish water, which is by no means yet resolved, has highlighted once again the importance of communications.  Indeed, much of the blame in relation to Irish water is being laid at the door of communications, from the company and from the government. Personally, I dont think any amount of communication genius could have sold the system as it was. Part of the problem is how we react to debate in this polity.  Continue reading

First Dublin Behavioral and Experimental Finance Symposium – Running Order

The first DBEF Symposium is to be held on 6 December 2014, in the Sutherland Center, 6th Floor, Arts Building, TCD.  The papers are noted below and will be presented by the underlined/italicised author. Complete papers and presentations, when available, will be linked here.

No fee applies to the conference but registration is required.  Each paper will be presented for a max of 30m , and a the conclusion of the session papers questions will be taken.

0915-0930 : Introduction to the colloquium and to the Journal of Behavioural And Experimental Finance Brian Lucey and Michael Dowling

0930-1100 Session 1 Placement

  1. Frenemies: Information Sharing Among Competing Fund Managers Bernard  Ganglmair U Texas at Dallas ; Alex Holcomb & Noah Myung  Naval Postgraduate School and University of Virgini
  1. Under-pricing of IPO’s in Experimental Markets Sascha Füllbrunn, Radboud University Nijmegen Tibor Neugebauer University of Luxembourg Andreas Nicklisch University of Hamburg

1115-1245 Session 2 People

  1. CEO Social Status and Corporate Acquisitiveness Michael Dowling, Liam Gallagher and Yulia Plaksina, Dublin City University
  1. Trading and beliefs in markets with information flows – does market micro-structure matter? Caroline Bonn & Florian Lindner University of Innsbruck, David Schindler , Ludwig Maximilian University of Munich

1345-1500 Session 3 Products

  1. The “Objective Valuation” Task: A New Technique for the Study of Product Complexity Pete Lunn, Economic and Social Research Institute (ESRI) & Trinity College Dublin
  1. Behavioral Aspects of the Regulation of retail gasoline prices Martin Angerer  & Georg Peter U Liechtenstein

1500-1700 Session 4 Psychology

  1. Taking Individual Financial Responsibility Dirk Brounen, Kees Koedijk, and Rachel Pownall Tilburg University
  1. Psychological Barriers in Traded Metal Prices Mark Cummins and Michael Dowling, Dublin City University Brian Lucey Trinity College Dublin
  1. Risk preferences, finance and constitutional change Liam Delaney, Stirling

1700-1800 Keynote   Behavioral Finance From the Mind to the Market  Greg B. Davies, Barclays

A Fractal Omnishambles and the ECB

It’s little wonder that the Irish government has not pressed harder against the European central banks approach to the Irish banking crisis. The reality seems to be that both are very similar, in at least one key characteristic. Both seem unable to accept that a mistake, once made, should be acknowledged as such, and that this does not have to represent a humiliating climbdown but rather evidence of a learning organisation. Continue reading

Baa Baa Baaackbenchers and IrishWater

I support, broadly, the idea of water charges. I am aghast at how badly structured, managed, organised etc is Irish Water.

When the Seanad resumes, Fergal Quinn, a man not normally associated with common causes for the hard left, will introduce a bill to take the PPS issue off the table. He will require IW to delete existing databases and to stop collection of same. And, he is 100% right in this. There are other perfectly acceptable and just as good ways to prove the existence of a child. This may pass the Seanad but is likely to die in the Dail.

It will die in the Dail because the Baa Baa Baaackbenchers, pictured above carefully and independently making up their mind on how to vote, will vote as the government determines. These same buckos will however decry that fact, will tell us that they are on our side and agree 100% with Senator Quinn. Some will, without doubt or shame, parade their tattermedallion consciences and brass necks at the various parades and marches against Irish Water today.

If you spot a Baa Baa Baackbencher, the thing to do is …nothing.  Dont engage. Dont acknowledge. Dont ask questions, dont do anything. When they rediscover their moral compass, packed carefully away in February 2011, then they can talk. Until then they can bleat on.