distributed generation

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Food and Fuel: Solutions for the Future by Andrew Heintzman, Evan Solomon, Eric Schlosser

agricultural Revolution, Berlin Wall, big-box store, California energy crisis, clean water, Community Supported Agriculture, corporate social responsibility, David Brooks, deindustrialization, distributed generation, electricity market, energy security, Exxon Valdez, flex fuel, full employment, half of the world's population has never made a phone call, hydrogen economy, Kickstarter, land reform, megaproject, microcredit, Negawatt, Nelson Mandela, oil shale / tar sands, oil shock, peak oil, precautionary principle, RAND corporation, risk tolerance, Silicon Valley, social contagion, statistical model, Tragedy of the Commons, Upton Sinclair, uranium enrichment, vertical integration

In the new scheme of things, power companies would become “virtual utilities,” assisting end-users by connecting them with one another and helping them to share their energy surplus profitably and efficiently. Co-ordinating content rather than producing it will become the mantra of power companies in the era of distributed generation. Utility companies, interestingly enough, serve to gain — at least in the short term — from distributed generation, although, until recently, many have fought the development. Because distributed generation is targeted to the very specific energy requirements of the end-user, it is a less costly and more efficient way of providing additional power than relying on a centralized power source.

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The HEW can be built organically and spread as the distributed generation becomes more widely used. The larger hydrogen fuel cells have the additional advantage of producing pure drinking water as a by-product, a not-insignificant consideration in village communities around the world where access to clean water is often a critical concern. Distributed-generation associations need to be established throughout the developing world. Civil-society organizations, co-operatives (where they exist), micro-credit lending institutions, and local governments ought to view distributed-generation energy webs as the core strategy for building sustainable, self-sufficient communities.

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Similarly, the telegraph and, later, the telephone provided forms of communication that were fast enough to accommodate the quickened pace, flow, density, and interactivity made possible when coal gave way to an even more agile hydrocarbon, crude oil. Today, hydrogen and the new fuel-cell, distributed-generation technology are beginning to fuse with the computer and communications revolution to create a wholly new economic era. Before the distributed generation of hydrogen can be fully achieved, however, changes in the existing power grid will have to be made. That’s where the software and communications revolution fits in. Connecting thousands and then millions of fuel cells to main grids will require sophisticated dispatch and control mechanisms to route energy traffic during peak and non-peak periods.

Shorting the Grid: The Hidden Fragility of Our Electric Grid by Meredith. Angwin

airline deregulation, California energy crisis, carbon credits, carbon footprint, congestion pricing, corporate governance, Credit Default Swap, crony capitalism, David Brooks, decarbonisation, demand response, distributed generation, electricity market, en.wikipedia.org, energy security, green new deal, Hans Rosling, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Jones Act, Just-in-time delivery, load shedding, market clearing, Michael Shellenberger, Negawatt, off-the-grid, performance metric, plutocrats, renewable energy credits, rolling blackouts, Silicon Valley, smart grid, smart meter, the map is not the territory, Tragedy of the Commons, uranium enrichment, vertical integration, washing machines reduced drudgery, zero-sum game

In RTO areas, with their rules, tariffs, auctions, and wide geographical scope, some of those pressures seem to be relieved. The operative word here is “seem.” The pressures of cost and reliability still exist, but in the RTO area, these are always someone else’s problem. CHAPTER 37 DISTRIBUTED GENERATION MANY RENEWABLE ADVOCATES hope that the world will move away from big, central electricity generators, with their large switchyards and high-voltage transmission lines. Instead, they favor distributed generation, sometimes described as DER (distributed energy resources). These resources will be small generation installations, near the consumer, perhaps owned by the consumer, perhaps part of a microgrid.

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dispatch: The action of a control-room operator issuing electronic or verbal instructions to generators, transmission facilities, and other market participants to start up, shut down, raise or lower generation, and so forth. distributed generation: Generation provided by relatively small installations directly connected to distribution facilities or retail-customer facilities. A rooftop solar photovoltaic system is an example of distributed generation. distribution: The delivery of electricity to end users via low-voltage electric power lines (typically less than 69 kV). It can also mean the transfer of electricity from high-voltage transmission lines to lower-voltage lines.

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Three Issues with Renewables 29. Renewables and Batteries 30. Renewable Policies 31. RECs Are Us 32. Vermont, the Twice-Sold State 33. The Purpose of Renewables 34. Renewables and Auctions The RTO and the Customer 35. The Largest Machine on Earth 36. Overinvesting in Renewables 37. Distributed Generation 38. Personal Responsibility 39. Manipulating the Customer 40. Leaving the RTO Areas Is There a Way Forward? 41. Reliable Electricity 42. A High-Quality Electric Grid 43. Fix the Grid and End the Drama 44. A Brief Look at Ontario 45. What We Can Do Acknowledgments Glossary Endnotes Index About the Author TABLE OF FIGURES Figure 1: Electricity use on the New England grid Figure 2: Duck curve on the California grid Figure 3: RTO areas of North America Figure 4: Fuel mix moves to oil during the cold snap Figure 5: Days of oil stored at a power plant as cold snap progresses Figure 6: Comparison of regulated and RTO states Figure 7: Electricity prices in Texas, deregulated and regulated areas Figure 8: Revenue streams for different types of plants Figure 9: Annual value of New England wholesale electricity markets Figure 10: Transmission planning regions Figure 11: New England wholesale electricity costs, showing rise of transmission costs Figure 12: Graphs of actual demand on the ISO-NE system Figure 13: Fuel mix charts for all fuels and for renewables only Figure 14: August 1, 2016 rally in New York State, celebrating the ZEC Figure 15: New England wholesale electricity costs Figure 16: The ISO-NE queue: 11,000 MW wind and 3,000 MW natural gas Figure 17: Consumer and prosumer Figure 18: Births per woman vs GDP per capita Figure 19: Wind and solar curtailment totals by month ANGELIC MIRACLES AND EASY PROBLEMS CHAPTER 1 THE BIG SHORT The Grid and I I JUST FINISHED REREADING a frightening book, The Big Short,1 which describes the financial meltdown of 2008 and the few people who saw it coming.

Smart Grid Standards by Takuro Sato

business cycle, business process, carbon footprint, clean water, cloud computing, data acquisition, decarbonisation, demand response, distributed generation, electricity market, energy security, exponential backoff, factory automation, Ford Model T, green new deal, green transition, information retrieval, information security, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Iridium satellite, iterative process, knowledge economy, life extension, linear programming, low earth orbit, machine readable, market design, MITM: man-in-the-middle, off grid, oil shale / tar sands, OSI model, packet switching, performance metric, RFC: Request For Comment, RFID, smart cities, smart grid, smart meter, smart transportation, Thomas Davenport

Smart Grid Standards 156 Table 4.2 A comparison of available DER technology options Technology options Advantages Disadvantages Applications Microturbine Low capital cost Compact size Low emissions Insufficient thermal output Low efficiency Fuel cell High conversion efficiency Low emissions Expensive High-temperature corrosion and breakdown (SOFC, MCFC) No mature technology Peak shaving CHP Standby power Power quality and reliability Backup power Electric vehicles Photovoltaic Wind turbine Combustion turbine High power density Quiet operation No emissions No moving parts and low maintenance cost No operation noise Mature technology No emissions No variable costs for fuel Mature technology Relatively high efficiency Low operation cost Great reliability Reciprocating engine Low initial installation cost High installation costs Variable energy output Low conversion efficiency Variable energy output Strict site requirements Low conversion efficiency Environmental issues – emission and noise Consumes more fuel than reciprocating engine when idle Lack of power electronic Short start-up times Mature technology Environmental issues – emission and noise High maintenance Low efficiency High reliability Lack of power electronics CHP Distributed generation Distributed generation Peak shaving Distributed generation Peak shaving CHP Peak shaving Backup power Power quality and reliability Peak shaving Backup power Power quality and reliability CHP DER technologies can be deployed either by customers to achieve energy cost savings and higher energy reliability, or by utilities to lower infrastructure investment and to improve asset utilization.

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Rastler, D. (2004) Economic Costs and Benefits of Distributed Energy Resources. EPRI Technical Update, Energy and Environmental Economics Inc., San Francisco, CA. Herman, D. (2003) Installation, Operation, and maintenance Costs for Distributed Generation Technologies. EPRI Technical Report 1007675. (http://www.epri.com/abstracts/Pages/ ProductAbstract.aspx?ProductId=000000000001007675) European Commission (2002) Distributed Generation with High Penetration of Renewable Energy Sources Project, www.dispower.org (accessed 10 December 2012). European Commission. (2002) The EU Frame Programme 5 MICROGRIDS Project, http://microgrids.power.ece.ntua.gr/ (accessed 10 December 2012).

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Future of the Smart Grid 393 [14] Gellings, C. (2011) EPRI, Estimating the Costs and Benefits of the Smart Grid: A Preliminary Estimate of the Investment Requirements and the Resultant Benefits of a Fully Functioning Smart Grid, EPRI. [15] Felder, F. (2011) The equity implications of smart grid, in Smart Grid Integrating Renewable, Distributed Generation and Energy Efficiency, (ed F.P. Sioshansi) Academic Press, pp. 247–275. [16] S.G. Hauser and K. Crandall. Smart grid is a lot more than just “technology”, in Smart Grid Integrating Renewable, Distributed Generation and Energy Efficiency, (eds FP Sioshansi) Academic Press, pp. 109–153 [17] North American Electric Reliability Corporation (2009) Scenario Reliability Assessment. October 2009. [18] Laitner, S. (2007) Assessing the Potential of Information Technology Applications to Enable Economy-Wide Energy-Efficiency Gains, August 17, 2007. [19] Platt, G., Berry, A. and Cornforth, D. (2011) What role for microgrids?

Green Metropolis: Why Living Smaller, Living Closer, and Driving Less Are Thekeys to Sustainability by David Owen

A Pattern Language, active transport: walking or cycling, big-box store, Buckminster Fuller, car-free, carbon footprint, carbon tax, clean water, congestion charging, congestion pricing, delayed gratification, distributed generation, drive until you qualify, East Village, Easter island, electricity market, food miles, Ford Model T, garden city movement, hydrogen economy, invisible hand, Jane Jacobs, Jevons paradox, linear programming, McMansion, megaproject, Michael Shellenberger, military-industrial complex, Murano, Venice glass, Negawatt, New Urbanism, off grid, off-the-grid, oil shale / tar sands, PalmPilot, peak oil, placebo effect, Stewart Brand, systems thinking, Ted Nordhaus, The Death and Life of Great American Cities, Thomas L Friedman, unemployed young men, urban planning, urban sprawl, walkable city, zero-sum game

And if we need to invest in more power plants or increased distribution capacity to meet the needs of a central city, then we should do it, because when growth takes place there we know that energy is being used more efficiently than it could be otherwise.” This is by no means a widely shared belief among environmentalists, who have generally looked upon big utilities with no more affection than they have for big cities. A growing theme in American environmentalism, in fact, has been the encouragement of “distributed generation”—the decentralizing of the production of electricity by supplementing, and in some cases circumventing, the existing power grid through the creation of smaller and more widely dispersed power-generating facilities, including ones that serve individual buildings. A prominent proponent has been Amory Lovins of RMI, who has tantaliz ingly described a future in which automobiles are replaced by hydrogen-powered “hypercars,” and homeowners generate their own electricity with photovoltaic arrays on their roofs and air-conditioner-size hydrogen-powered fuel cells—which generate electricity without combustion—and produce their own hydrogen, with in-home “hydrogen appliances” fed by natural gas.

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Large generating plants are inherently more efficient than small generators; they also do less damage to the environment per unit of output, since “fitting plants with best available control technology can be financially feasible on a large scale, but not on a small scale.” Greene and Hammerschlag are by no means dismissive of distributed generation, but their paper repeatedly demonstrates that no idea can be judged apart from its real-world context. Heating New York City apartments with individual woodstoves rather than with steam from Con Ed’s centralized steam distribution system—which supplies most buildings in Manhattan below Ninety-sixth Street, and is used to co-generate electricity—would not be a gain for the environment.

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The existing American power grid is antiquated, and it is vulnerable to failures like the one that shut down power in the Northeast in 2003, but breaking it apart is unlikely to be the solution, especially if doing so encourages people to live even farther from one another, thereby increasing wastefulness and environmental damage of all kinds. Part of the fascination with distributed generation, and with the dream of hydrogen as an energy panacea, arises from our very worst impulses—the same yearnings for personal independence that lead to expressways, strip malls, and sprawl. (What is a car but distributed transportation?) The desire to produce your own power in your own basement is akin to the desire to drive yourself to work and swim in your own pool and play tennis on your own court: to be liberated from the grid is to be liberated from other people.

The Burning Answer: The Solar Revolution: A Quest for Sustainable Power by Keith Barnham

Albert Einstein, An Inconvenient Truth, Arthur Eddington, carbon footprint, credit crunch, decarbonisation, distributed generation, electricity market, en.wikipedia.org, energy security, Ernest Rutherford, Higgs boson, hydraulic fracturing, hydrogen economy, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, James Watt: steam engine, Kickstarter, Michael Shellenberger, Naomi Klein, off grid, oil shale / tar sands, Richard Feynman, Schrödinger's Cat, Silicon Valley, Stephen Hawking, Ted Nordhaus, the scientific method, uranium enrichment, wikimedia commons

Having explained this analogy, it is important to emphasise that, in addition to its simplicity and elegance, photovoltaic power has an additional advantage over hydropower and most other forms of renewable energy. A solar cell can generate current and voltage at the place the electrical power is needed. The technical name for this is distributed generation. Compare the physics of the solar cell described in this chapter with the description in the last chapter of the way the electric field is transmitted hundreds of kilometres to boil a kettle. Here is a third possible solution to Hawking’s question in the Introduction. Extant alien civilisations, which found E = hf first, may be observing us from afar.

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In the future I hope we will be able to add: CPV on buildings and in deserts, solar fuel from rooftops and on the large scale in oil-rich countries. What we are discussing really is revolutionary. For more than a century we have assumed that electricity is a commodity that is produced centrally in large generators a long way away. Nowadays people can produce their own electrical power at home. I have called this distributed generation up to now. You may also have seen it described as micro-generation. If the solar revolution is to maintain momentum, gas should increasingly be produced from local agricultural silage, farm waste and landfill. Eventually, I believe, solar fuel will be produced on domestic rooftops. The solar revolution will give new meaning to the 1960s’ slogan ‘Power to the People’.

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It would be infinitely better for the fight against global warming, and for cheaper energy prices, if, instead of effectively bribing farmers and local authorities to accept fracking, government funds were used to encourage farmers to send their waste for anaerobic digestion. Call for effective feed-in tariffs for PV and all other micro-generation All countries should install feed-in-tariff (FIT) arrangements for PV and distributed generation from other solar technologies, similar to those which have been so successful in Germany. The guaranteed prices for solar electricity should be set at levels that encourage installations to expand at the exponential rate that Germany achieved for PV in the years 2005-2010. As in Denmark and Germany, the incentives should be set at levels that encourage community and corporate investment in renewable systems.

The Grid: The Fraying Wires Between Americans and Our Energy Future by Gretchen Bakke

addicted to oil, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, back-to-the-land, big-box store, Buckminster Fuller, demand response, dematerialisation, distributed generation, electricity market, energy security, energy transition, full employment, Gabriella Coleman, illegal immigration, indoor plumbing, Internet of things, Kickstarter, laissez-faire capitalism, Menlo Park, Neal Stephenson, Negawatt, new economy, Northpointe / Correctional Offender Management Profiling for Alternative Sanctions, off grid, off-the-grid, post-oil, profit motive, rolling blackouts, Ronald Reagan, self-driving car, Silicon Valley, smart grid, smart meter, the built environment, too big to fail, Twitter Arab Spring, vertical integration, washing machines reduced drudgery, Whole Earth Catalog

People can still put solar up on their garage roofs in Hawaii, but the utility won’t connect to them, won’t pay for the electricity they generate, and won’t offer any kind of deal to homeowners on power consumed after dark. This cycle hadn’t yet reached crisis level in 2009, when Chu was listing the known woes of power companies. It’s at crisis level now. What we are bearing witness to are the early days of a variable and distributed generation revolution. Electricity is being made everywhere, by power producers of all sorts and sizes, and increasingly from uncontrollable and largely unpredictable means. And because of an awkward piece of legislation called the Energy Policy Act (1992), which laid the foundation for the deregulation of the electricity industry, in many places not only have the utilities lost control of who makes power and how and where they make it, but they have also lost the right to own power plants themselves.

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., in the passes between San Francisco Bay and the Central Valley, even in downtown Sacramento, and almost all of it was variable. It blew with the wind, fell with the water, and warmed with the sun. The utilities quickly found themselves with a plethora of new problems. Never before had they had to deal with variable generation, never before had they had to deal with distributed generation, and never in the seventy years of their existence had they lost control over the production side of their business. At issue wasn’t that they suddenly had to integrate a massive amount of new power but that they weren’t getting to decide how much, where, or when relatively small amounts of electricity would come streaming onto their power lines.

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For half a century the daily, quarterly, and annual running of the grid had been accomplished in meetings between the managers of various arms of a utility. Notes were taken, plans made, and later operationalized. In place of this centralized and somewhat perfunctory organizational routine the utilities now needed something like real-time flexibility. Even if the scale was initially modest, the introduction of variable, distributed generation for which they would have to pay a market price was, for the utilities, a little like aliens coming down from outer space and asking them to enter into an intergalactic energy alliance. It’s fine in theory, but unimaginable in its details. Take a simple seeming thing like paying market price.

The Third Industrial Revolution: How Lateral Power Is Transforming Energy, the Economy, and the World by Jeremy Rifkin

3D printing, additive manufacturing, Albert Einstein, American ideology, An Inconvenient Truth, barriers to entry, behavioural economics, bike sharing, borderless world, carbon footprint, centre right, clean tech, collaborative consumption, collaborative economy, Community Supported Agriculture, corporate governance, decarbonisation, deep learning, distributed generation, electricity market, en.wikipedia.org, energy security, energy transition, Ford Model T, global supply chain, Great Leap Forward, high-speed rail, hydrogen economy, income inequality, industrial cluster, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Isaac Newton, job automation, knowledge economy, manufacturing employment, marginal employment, Martin Wolf, Masdar, megacity, Mikhail Gorbachev, new economy, off grid, off-the-grid, oil shale / tar sands, oil shock, open borders, peak oil, Ponzi scheme, post-oil, purchasing power parity, Ray Kurzweil, rewilding, Robert Solow, Ronald Reagan, scientific management, scientific worldview, Silicon Valley, Simon Kuznets, Skype, smart grid, smart meter, Spread Networks laid a new fibre optics cable between New York and Chicago, supply-chain management, systems thinking, tech billionaire, the market place, The Wealth of Nations by Adam Smith, Thomas Malthus, too big to fail, transaction costs, trickle-down economics, urban planning, urban renewal, Yom Kippur War, Zipcar

As early as 2001, the Electric Power Research Institute (EPRI) observed in its report, “Perspectives for the Future,” that distributed generation would likely evolve in much the same way the computer industry has evolved. Large mainframe computers have given way to small, geographically dispersed desktop and laptop machines that are interconnected into fully integrated, extremely flexible networks. In our industry, central-station plants will continue to play an important role, of course. But we’re increasingly going to need smaller, cleaner, widely distributed generators . . . all supported by energy storage technologies. A basic requirement for such a system will be advanced electronic controls: these will be absolutely essential for handling the tremendous traffic of information and power that such a complicated interconnection will bring.42 The IBM guys in Germany put me in touch with Guido Bartels, a Dutch national who was doing a lot of work pushing IBM’s intelligent utility network concept around the world.

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In March of 2006, around the same time Kroes was out on the hustings talking up “unbundling,” Utz Claassen, the tough CEO of EnBW, the fourth largest power and utility company in Germany, invited me to Berlin to speak to his company and clients on climate change, energy security, and the transformation of the power and utility sector. Even though 45 percent of EnBW was owned by EDF of France, a company that produces 78 percent of French electricity from nuclear power, Claassen picked up on the theme of distributed generation of renewable energy.46 Three months later, he invited me to Heilbronn, Germany, to address his entire company. Some five hundred employees filled the hall. After I laid out the vision of a Third Industrial Revolution, Claassen took the podium. To the surprise of many of his employees, who had cut their teeth on conventional fossil fuels and nuclear energy and were used to a centralized, top-down flow of power, Claassen said the energy market was changing and so was EnBW.

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Greenpeace comes down in the middle on the debate. Sven Teske, Greenpeace’s international renewable energy director, supports Desertec, but with the qualification that it should be developed alongside local renewable energy generation initiatives across the continent.22 The struggle over centralized versus distributed generation of renewable energy is intensifying around the world. For my part, while I don’t oppose some centralized applications of solar, wind, hydro, geothermal, and biomass power, they are likely to make up a small portion of the renewable energy generated to power a Third Industrial Revolution economy.

Advanced Stochastic Models, Risk Assessment, and Portfolio Optimization: The Ideal Risk, Uncertainty, and Performance Measures by Frank J. Fabozzi

algorithmic trading, Benoit Mandelbrot, Black Monday: stock market crash in 1987, capital asset pricing model, collateralized debt obligation, correlation coefficient, distributed generation, diversified portfolio, financial engineering, fixed income, global macro, index fund, junk bonds, Louis Bachelier, Myron Scholes, p-value, power law, quantitative trading / quantitative finance, random walk, risk free rate, risk-adjusted returns, short selling, stochastic volatility, subprime mortgage crisis, Thomas Bayes, transaction costs, value at risk

DECOMPOSITION OF TIME SERIES REPRESENTATION OF TIME SERIES WITH DIFFERENCE EQUATIONS APPLICATION: THE PRICE PROCESS CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) PART Two - Basic Probability Theory CHAPTER 8 - Concepts of Probability Theory HISTORICAL DEVELOPMENT OF ALTERNATIVE APPROACHES TO PROBABILITY SET OPERATIONS AND PRELIMINARIES PROBABILITY MEASURE RANDOM VARIABLE CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 9 - Discrete Probability Distributions DISCRETE LAW BERNOULLI DISTRIBUTION BINOMIAL DISTRIBUTION HYPERGEOMETRIC DISTRIBUTION MULTINOMIAL DISTRIBUTION POISSON DISTRIBUTION DISCRETE UNIFORM DISTRIBUTION CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 10 - Continuous Probability Distributions CONTINUOUS PROBABILITY DISTRIBUTION DESCRIBED DISTRIBUTION FUNCTION DENSITY FUNCTION CONTINUOUS RANDOM VARIABLE COMPUTING PROBABILITIES FROM THE DENSITY FUNCTION LOCATION PARAMETERS DISPERSION PARAMETERS CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 11 - Continuous Probability Distributions with Appealing Statistical Properties NORMAL DISTRIBUTION CHI-SQUARE DISTRIBUTION STUDENT’S t-DISTRIBUTION F-DISTRIBUTION EXPONENTIAL DISTRIBUTION RECTANGULAR DISTRIBUTION GAMMA DISTRIBUTION BETA DISTRIBUTION LOG-NORMAL DISTRIBUTION CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 12 - Continuous Probability Distributions Dealing with Extreme Events GENERALIZED EXTREME VALUE DISTRIBUTION GENERALIZED PARETO DISTRIBUTION NORMAL INVERSE GAUSSIAN DISTRIBUTION α-STABLE DISTRIBUTION CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 13 - Parameters of Location and Scale of Random Variables PARAMETERS OF LOCATION PARAMETERS OF SCALE CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 14 - Joint Probability Distributions HIGHER DIMENSIONAL RANDOM VARIABLES JOINT PROBABILITY DISTRIBUTION MARGINAL DISTRIBUTIONS DEPENDENCE COVARIANCE AND CORRELATION SELECTION OF MULTIVARIATE DISTRIBUTIONS CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 15 - Conditional Probability and Bayes’ Rule CONDITIONAL PROBABILITY INDEPENDENT EVENTS MULTIPLICATIVE RULE OF PROBABILITY BAYES’ RULE CONDITIONAL PARAMETERS CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 16 - Copula and Dependence Measures COPULA ALTERNATIVE DEPENDENCE MEASURES CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) PART Three - Inductive Statistics CHAPTER 17 - Point Estimators SAMPLE, STATISTIC, AND ESTIMATOR QUALITY CRITERIA OF ESTIMATORS LARGE SAMPLE CRITERIA MAXIMUM LIKEHOOD ESTIMATOR EXPONENTIAL FAMILY AND SUFFICIENCY CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 18 - Confidence Intervals CONFIDENCE LEVEL AND CONFIDENCE INTERVAL CONFIDENCE INTERVAL FOR THE MEAN OF A NORMAL RANDOM VARIABLE CONFIDENCE INTERVAL FOR THE MEAN OF A NORMAL RANDOM VARIABLE WITH UNKNOWN VARIANCE CONFIDENCE INTERVAL FOR THE VARIANCE OF A NORMAL RANDOM VARIABLE CONFIDENCE INTERVAL FOR THE VARIANCE OF A NORMAL RANDOM VARIABLE WITH UNKNOWN MEAN CONFIDENCE INTERVAL FOR THE PARAMETER P OF A BINOMIAL DISTRIBUTION CONFIDENCE INTERVAL FOR THE PARAMETER λ OF AN EXPONENTIAL DISTRIBUTION CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 19 - Hypothesis Testing HYPOTHESES ERROR TYPES QUALITY CRITERIA OF A TEST EXAMPLES CONCEPTS EXPLAINED IN THIS CHAPTER (INORDER OF PRESENTATION) PART Four - Multivariate Linear Regression Analysis CHAPTER 20 - Estimates and Diagnostics for Multivariate Linear Regression Analysis THE MULTIVARIATE LINEAR REGRESSION MODEL ASSUMPTIONS OF THE MULTIVARIATE LINEAR REGRESSION MODEL ESTIMATION OF THE MODEL PARAMETERS DESIGNING THE MODEL DIAGNOSTIC CHECK AND MODEL SIGNIFICANCE APPLICATIONS TO FINANCE CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 21 - Designing and Building a Multivariate Linear Regression Model THE PROBLEM OF MULTICOLLINEARITY INCORPORATING DUMMY VARIABLES AS INDEPENDENT VARIABLES MODEL BUILDING TECHNIQUES CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) CHAPTER 22 - Testing the Assumptions of the Multivariate Linear Regression Model TESTS FOR LINEARITY ASSUMED STATISTICAL PROPERTIES ABOUT THE ERROR TERM TESTS FOR THE RESIDUALS BEING NORMALLY DISTRIBUTED TESTS FOR CONSTANT VARIANCE OF THE ERROR TERM (HOMOSKEDASTICITY) ABSENCE OF AUTOCORRELATION OF THE RESIDUALS CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) APPENDIX A - Important Functions and Their Features APPENDIX B - Fundamentals of Matrix Operations and Concepts APPENDIX C - Binomial and Multinomial Coefficients APPENDIX D - Application of the Log-Normal Distribution to the Pricing of Call Options References Index The Frank J.

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It states that a sum of random variables with identical distributions and being independent of each other, results in a normal random variable.121 We restate this formally as follows: Let X1, X2, …, Xn be identically distributed random variables with mean E ( Xi ) = µ and Var ( Xi ) = σ 2 and do not influence the outcome of each other (i.e., are independent). Then, we have(11.2) as the number n approaches infinity. The D above the convergence arrow in equation (11.2) indicates that the distribution function of the left expression convergences to the standard normal distribution. Generally, for n = 30 in equation (11.2), we consider equality of the distributions; that is, the left-hand side is N(0,1) distributed. In certain cases, depending on the distribution of the Xi and the corresponding parameter values, n < 30 justifies the use of the standard normal distribution for the left-hand side of equation (11.2).

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That brings to light the immense risk inherent in the return distributions when they are truly α-stable. CONCEPTS EXPLAINED IN THIS CHAPTER (IN ORDER OF PRESENTATION) Heavy tails Generalized extreme value distributions Standardized data Extreme value theory Gumbel distribution Fréchet distribution Weibull distribution Generalized Pareto distribution Normal inverse Gaussian distribution Bessel function of the third kind Scaling property α-stable distributions Stable distributions Tail index Characteristic exponent Excess kurtosis Power law Skewness Scale Location Stability property Generalized central limit theorem CHAPTER 13 Parameters of Location and Scale of Random Variables In the previous four chapters, we presented discrete and continuous probability distributions.

The new village green: living light, living local, living large by Stephen Morris

Alan Greenspan, An Inconvenient Truth, back-to-the-land, Buckminster Fuller, carbon tax, clean tech, clean water, collective bargaining, Columbine, Community Supported Agriculture, company town, computer age, cuban missile crisis, David Sedaris, deindustrialization, discovery of penicillin, distributed generation, Easter island, energy security, energy transition, Fellow of the Royal Society, financial independence, Firefox, Hacker Conference 1984, index card, Indoor air pollution, intentional community, Intergovernmental Panel on Climate Change (IPCC), invisible hand, John Elkington, Kevin Kelly, Louis Pasteur, low interest rates, Mahatma Gandhi, mass immigration, McMansion, Menlo Park, messenger bag, Negawatt, off grid, off-the-grid, peak oil, precautionary principle, rolodex, Silicon Valley, Steve Jobs, Stewart Brand, systems thinking, Whole Earth Catalog, Whole Earth Review

One way of addressing the inefficiency of power transmission and distribution is through what power companies call “distributed generation.” Distributed generation is where electricity is fed into power lines by small, scattered power plants such as wind mills, solar electric arrays on roof tops, small-scale hydro power, methane captured at farms or landfills, or fossil fuel powered turbines. The energy from these decentralized power sources tends to be used on-site by whoever is producing it, with the excess going out onto the grid for everyone else. Energy security analysts think distributed generation is preferable because reducing the demand on a single, central power plant makes widespread power interruptions less likely.

No Ordinary Disruption: The Four Global Forces Breaking All the Trends by Richard Dobbs, James Manyika

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, access to a mobile phone, additive manufacturing, Airbnb, Amazon Mechanical Turk, American Society of Civil Engineers: Report Card, asset light, autonomous vehicles, Bakken shale, barriers to entry, business cycle, business intelligence, carbon tax, Carmen Reinhart, central bank independence, circular economy, cloud computing, corporate governance, creative destruction, crowdsourcing, data science, demographic dividend, deskilling, digital capitalism, disintermediation, disruptive innovation, distributed generation, driverless car, Erik Brynjolfsson, financial innovation, first square of the chessboard, first square of the chessboard / second half of the chessboard, Gini coefficient, global supply chain, global village, high-speed rail, hydraulic fracturing, illegal immigration, income inequality, index fund, industrial robot, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, inventory management, job automation, Just-in-time delivery, Kenneth Rogoff, Kickstarter, knowledge worker, labor-force participation, low interest rates, low skilled workers, Lyft, M-Pesa, machine readable, mass immigration, megacity, megaproject, mobile money, Mohammed Bouazizi, Network effects, new economy, New Urbanism, ocean acidification, oil shale / tar sands, oil shock, old age dependency ratio, openstreetmap, peer-to-peer lending, pension reform, pension time bomb, private sector deleveraging, purchasing power parity, quantitative easing, recommendation engine, Report Card for America’s Infrastructure, RFID, ride hailing / ride sharing, Salesforce, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, Snapchat, sovereign wealth fund, spinning jenny, stem cell, Steve Jobs, subscription business, supply-chain management, synthetic biology, TaskRabbit, The Great Moderation, trade route, transaction costs, Travis Kalanick, uber lyft, urban sprawl, Watson beat the top human players on Jeopardy!, working-age population, Zipcar

Prices for lithium-ion battery packs for cars could fall from over $500 per MWh to $160 per MWh by 2025, even as their life cycle increases. Such advances in energy storage have the potential to make battery-powered vehicles cost competitive. When used in the electric grid to improve reliability, reduce outages, and enable distributed generation, energy storage can dramatically improve the efficiency of our utility grids and bring electricity to remote and underserved areas around the world.22 3.Machines working for us. Industrial automation has been around for several decades, and the robots on the factory floor are now changing fast.

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International Energy Agency, September 2014, www.iea.org/newsroomandevents/pressreleases/2014/september/how-solar-energy-could-be-the-largest-source-of-electricity-by-mid-century.html. 60. Thomas G. Kreutz and Joan M. Ogden, “Assessment of hydrogen-fueled proton exchange membrane fuel cells for distributed generation and cogeneration,” Proceedings of the 2000 US DOE Hydrogen Program Review, US Department of Energy, October 2000. CHAPTER 7. END OF AN ERA 1. “Elevated rail corridor in Mumbai: Project information memorandum,” Indian Railways, www.indianrailways.gov.in/railwayboard/uploads/directorate/infra/downloads/Project_Information_Memorandum.pdf. 2.

Monte Carlo Simulation and Finance by Don L. McLeish

algorithmic bias, Black-Scholes formula, Brownian motion, capital asset pricing model, compound rate of return, discrete time, distributed generation, finite state, frictionless, frictionless market, implied volatility, incomplete markets, invention of the printing press, martingale, p-value, random walk, risk free rate, Sharpe ratio, short selling, stochastic process, stochastic volatility, survivorship bias, the market place, transaction costs, value at risk, Wiener process, zero-coupon bond, zero-sum game

Here we generate a point (Z1 , Z2 )from the uniform distribution on the unit circle by rejection, generating the point initially from the square −1 · z1 · 1, −1 · z2 · 1 and accepting it when it falls in the unit circle or if z12 + z22 · 1. Now suppose that the points (Z1 , Z2 ) is uniformly distributed GENERATING RANDOM NUMBERS FROM NON-UNIFORM CONTINUOUS DISTRIBUTIONS131 inside the unit circle. Then for r > 0, q P [ −2 log(Z12 + Z22 ) · r] = P [Z12 + Z22 ≥ exp(−r2 /2)] 1 − area of a circle of radius exp(−r2 /2) area of a circle of radius 1 = 1 − e−r 2 /2 . This is exactly the same cumulative distribution function as that of the random variable R in Theorem 21.

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Clearly this is often not a very efficient method, particularly in cases in which the chain mixes or forgets its past very slowly for in this case the required initial transient is long. On the other hand if we shortened it, we run the risk of introducing bias into our simulations because the distribution generated is too far from the equilibrium distribution π. There are a number of solutions to this problem proposed in a burgeoning literature. Here we limit ourselves to a few of the simpler methods. 178 CHAPTER 3. BASIC MONTE CARLO METHODS Metropolis-Hastings Algorithm The Metropolis-Hastings Algorithm is a method for generating random variables from a distribution π that applies even in the case of an infinite number of states or a continuous distribution π.

Python for Finance by Yuxing Yan

asset-backed security, book value, business cycle, business intelligence, capital asset pricing model, constrained optimization, correlation coefficient, data science, distributed generation, diversified portfolio, financial engineering, functional programming, implied volatility, market microstructure, P = NP, p-value, quantitative trading / quantitative finance, risk free rate, Sharpe ratio, tail risk, time value of money, value at risk, volatility smile, zero-sum game

Finance The put-call ratio The put-call ratio for a short period with a trend Summary Exercises [ vii ] 256 257 258 259 261 268 268 269 270 271 275 276 277 278 279 280 281 282 283 284 285 286 288 288 289 290 292 293 294 294 295 297 299 300 300 302 303 304 Table of Contents Chapter 11: Monte Carlo Simulation and Options Generating random numbers from a standard normal distribution Drawing random samples from a normal (Gaussian) distribution Generating random numbers with a seed Generating n random numbers from a normal distribution Histogram for a normal distribution 307 308 309 309 310 310 Graphical presentation of a lognormal distribution Generating random numbers from a uniform distribution Using simulation to estimate the pi value Generating random numbers from a Poisson distribution Selecting m stocks randomly from n given stocks Bootstrapping with/without replacements Distribution of annual returns Simulation of stock price movements Graphical presentation of stock prices at options' maturity dates Finding an efficient portfolio and frontier Finding an efficient frontier based on two stocks 311 312 313 315 315 317 319 320 322 324 324 Constructing an efficient frontier with n stocks Geometric versus arithmetic mean Long-term return forecasting Pricing a call using simulation Exotic options Using the Monte Carlo simulation to price average options Pricing barrier options using the Monte Carlo simulation Barrier in-and-out parity Graphical presentation of an up-and-out and up-and-in parity Pricing lookback options with floating strikes Using the Sobol sequence to improve the efficiency Summary Exercises 329 332 333 334 335 335 337 339 340 342 344 344 345 Impact of different correlations Chapter 12: Volatility Measures and GARCH Conventional volatility measure – standard deviation Tests of normality Estimating fat tails Lower partial standard deviation Test of equivalency of volatility over two periods Test of heteroskedasticity, Breusch, and Pagan (1979) Retrieving option data from Yahoo!

Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals by David Aronson

Albert Einstein, Andrew Wiles, asset allocation, availability heuristic, backtesting, Black Swan, book value, butter production in bangladesh, buy and hold, capital asset pricing model, cognitive dissonance, compound rate of return, computerized trading, Daniel Kahneman / Amos Tversky, distributed generation, Elliott wave, en.wikipedia.org, equity risk premium, feminist movement, Great Leap Forward, hindsight bias, index fund, invention of the telescope, invisible hand, Long Term Capital Management, managed futures, mental accounting, meta-analysis, p-value, pattern recognition, Paul Samuelson, Ponzi scheme, price anchoring, price stability, quantitative trading / quantitative finance, Ralph Nelson Elliott, random walk, retrograde motion, revision control, risk free rate, risk tolerance, risk-adjusted returns, riskless arbitrage, Robert Shiller, Sharpe ratio, short selling, source of truth, statistical model, stocks for the long run, sugar pill, systematic trading, the scientific method, transfer pricing, unbiased observer, yield curve, Yogi Berra

In contrast, the MC sampling distribution’s mean is the expected return of a useless rule in a data-mining venture. If, after randomly assigning rule values to market returns, the sampling distribution is situated at a value greater than zero, so be it. pvalues can be computed directly from the MC generated sampling distribution, just as they would be with a sampling distribution generated by alternative methods. The p-value is the area in the right tail of the distribution that lies at or beyond the back-tested rule’s mean return. A limitation of the MC method compared to WRC is that it cannot be used to generate confidence intervals because it does not test a hypothesis about the rule’s mean return.

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., 403, 433 Herd behavior, 362–369 Heuristic bias, 41, 86–87 availability heuristic, 87–88 heuristic defined, 86 representativeness heuristic, 88–93 illusory trends and patterns and, 93–101 521 Hindsight bias, 50–58 Hong and Stein (HS) hypothesis, 376–377 Hsu, P.-H., 451, 455 Hulbert Digest, 48 Hume, David, 126–128 Hussman, J., 430 Hypotheses, see also Hypothesis tests alternative, 221–225, 394 development of concept of, 128–130 falsifiability and, 130–143 null, 139, 166–172, 221–225, 393 Hypothesis tests: computer-intensive methods of sampling distribution generation, 234–243 confidence intervals contrasted to, 250–252 defined, 217–218 informal inference contrasted, 218–223 mechanics of, 227–234 rationale of, 223–227 Hypothetico-deductive method: stages of, 144–147 technical analysis example, 145–146 Illusory correlations, 72–82 asymmetric binary variables and, 78–80 behavioral psychology and, 81–82 binary variables and, 72 hidden or missing data and, 80 possible outcomes of binary variables and faulty intuition, 73–78 Illusory knowledge, 41–42, 49–50 Imitative behavior, 362–369 522 Immediate practical future: in case study, 393 defined, 186–187 Indicators, in case study, 405–417 interest rate spreads, 417 market breadth indicators, 413–416 price and volume functions, 406–413 prices-of-debt instruments from interest rates, 416–417 Indicator scripting language (ISL), 403–405 Inductive logic, 121–124.

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., 467 Scientific method: defined, 103, 332 history of, 103–108 hypothetic-deductive method, 144–147 key aspects of, 147–148 logic and, 111–124 INDEX nature of scientific knowledge and, 108–110 objectification of subjective technical analysis, 148–151 example, 151–161 openness and skepticism in, 143, 225 philosophy of, 124–143 search bias and, 64 Secondhand information bias, 58–61 anchoring and, 360–361 information diffusion and, 365–366 Self-attribution bias, 48–49 DHS hypothesis and, 375–376 Self-interest, secondhand accounts and, 61 Shermer, Michael, 38 Shiller, Robert, 333–334, 365, 366 Shleifer, Andre, 347 Siegel, Jeremy, 84 Signals, 16–18 Simon, Barry, 259 Simon, Herbert, 42 Simplicity, principle of, 107–108, 225–227 Single-rule back-testing, versus data mining, 268–271 Skepticism, 143, 225 Slope of yield curve, 417 Slovic, Paul, 41, 470 Snelson, Jay Stuart, 71 Socioeconomics, 151 Spatial clustering, 100–101 Stale information, 340, 349, 351–354 Standard deviation, 192 Standard error of the mean, 213–215 Statement about reliability of inference, 190 Index Stationary statistical problems, 174, 188 Stationary time series, 19 Statistical analysis: descriptive statistics tools: central tendency measurements, 191 frequency distribution, 190–191 variability (dispersion) measurements, 192–193 inferential statistics: elements of statistical inference problem, 186–190 sampling example, 172–186 three distributions of, 206–207 probability, 193 Law of Large Numbers, 194–195 probability distribution, 200–202 probability distribution of random variables, 197–199 theoretical versus empirical, 196 sampling distribution and, 201–206 classical derivation approach, 209–215 computer-intensive approach, 215 used to counter uncertainty, 165–172 Statistical hypothesis, defined, 220 Statistical inference: data mining and, 272–278 defined, 189 hypothesis tests: computer-intensive methods of sampling distribution generation, 234–243 confidence intervals contrasted to, 250–252 527 defined, 217–218 informal inference contrasted, 218–223 mechanics of, 227–234 rationale of, 223–227 parameter estimation: defined, 217–218 interval estimates, 218, 243, 245–253 point estimates, 218, 243–245 Statistical significance, 23 in case study, 394 statistical significance of observation, 171 statistical significance of test (p-value), 232–234 Stiglitz, J.E., 343, 378 Stochastics, 401–403 Stories, see Secondhand information bias Subjective technical analysis, 5–8, 15–16, 161–163 adoption of scientific method and, 148–151 example, 151–161 chart analysis and, 82–86 confirmation bias and, 62–71 erroneous beliefs and, 33–35 futility of forecasting and, 465–471 heuristic bias and, 86–93 illusion trends and chart patterns, 93–101 human pattern finding and information processing, 39–45 illusory correlations and, 72–82 overconfidence bias and, 45–58 secondhand information bias and, 58–61 as untestable and not legitimate knowledge, 35–38 528 Syllogisms: categorical, 112–115 conditional, 115–116 invalid forms, 118–121 valid forms, 117–118 Taleb, Nassim, 337 Technical analysis (TA), 9–11.

Taming the Sun: Innovations to Harness Solar Energy and Power the Planet by Varun Sivaram

"World Economic Forum" Davos, accelerated depreciation, addicted to oil, Albert Einstein, An Inconvenient Truth, asset light, asset-backed security, autonomous vehicles, bitcoin, blockchain, carbon footprint, carbon tax, clean tech, collateralized debt obligation, Colonization of Mars, currency risk, decarbonisation, deep learning, demand response, disruptive innovation, distributed generation, diversified portfolio, Donald Trump, electricity market, Elon Musk, energy security, energy transition, financial engineering, financial innovation, fixed income, gigafactory, global supply chain, global village, Google Earth, hive mind, hydrogen economy, index fund, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), Internet of things, low interest rates, M-Pesa, market clearing, market design, Masayoshi Son, mass immigration, megacity, Michael Shellenberger, mobile money, Negawatt, ocean acidification, off grid, off-the-grid, oil shock, peer-to-peer lending, performance metric, renewable energy transition, Richard Feynman, ride hailing / ride sharing, rolling blackouts, Ronald Reagan, Silicon Valley, Silicon Valley startup, smart grid, smart meter, SoftBank, Solyndra, sovereign wealth fund, Ted Nordhaus, Tesla Model S, time value of money, undersea cable, vertical integration, wikimedia commons

Pieter Gagnon, Robert Margolis, Jennifer Melius, Caleb Phillips, and Ryan Elmore, “Rooftop Solar Photovoltaic Technical Potential in the United States: A Detailed Assessment,” National Renewable Energy Laboratory (NREL), 2016, http://www.nrel.gov/docs/fy16osti/65298.pdf. 31.  Travis Lowder, Paul Schwabe, Ella Zhou, and Douglas J. Arent, “Historical and Current U.S. Strategies for Boosting Distributed Generation,” National Renewable Energy Laboratory (NREL), 2015, http://www.nrel.gov/docs/fy16osti/64843.pdf. 32.  Solar Energy Industry Association (SEIA), “Expanding Solar Deployment Opportunities in the C&I Sector,” November 2016, http://www.seia.org/sites/default/files/resources/SEIA-CPACE_Expanding_Solar_Deployment_CI_Sector_April2017.pdf. 33.  

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Enrique Santacana, Gary Rackliffe, Le Tang, and Xiaoming Feng, “Getting Smart,” IEEE Power and Energy Magazine 8, no. 2 (2010): 41–48, doi:10.1109/mpe.2009.935557. 38.  Ryan Hanley, “A Pathway to the Distributed Grid,” SolarCity White Paper, February 2016, http://www.solarcity.com/sites/default/files/SolarCity_Distributed_Grid-021016.pdf. 39.  S. Abdi and K. Afshar, “Application of IPSO-Monte Carlo for Optimal Distributed Generation Allocation and Sizing,” International Journal of Electrical Power & Energy Systems 44, no. 1 (2013): 786–797. 40.  Stephen Lacey, “Microsoft Says ‘Computational Demand Response’ Could Lower Data Center Emissions 99%,” Greentech Media, June 27, 2013, https://www.greentechmedia.com/articles/read/Microsoft-Says-Computational-Demand-Response-Could-Lower-Data-Center-Emis. 41.  

Mastering Machine Learning With Scikit-Learn by Gavin Hackeling

backpropagation, computer vision, constrained optimization, correlation coefficient, data science, Debian, deep learning, distributed generation, iterative process, natural language processing, Occam's razor, optical character recognition, performance metric, recommendation engine

Jaccard similarity is calculated by the following equation: J ( Predicted,True ) = Predicted ∩ True Predicted ∪ True >>> import numpy as np >>> from sklearn.metrics import hamming_loss >>> print hamming_loss(np.array([[0.0, 1.0], [1.0, 1.0]]), np.array([[0.0, 1.0], [1.0, 1.0]])) 0.0 >>> print hamming_loss(np.array([[0.0, 1.0], [1.0, 1.0]]), np.array([[1.0, 1.0], [1.0, 1.0]])) 0.25 >>> print hamming_loss(np.array([[0.0, 1.0], [1.0, 1.0]]), np.array([[1.0, 1.0], [0.0, 1.0]])) 0.5 [ 94 ] www.it-ebooks.info Chapter 4 >>> print jaccard_similarity_score(np.array([[0.0, 1.0], [1.0, 1.0]]), np.array([[0.0, 1.0], [1.0, 1.0]])) 1.0 >>> print jaccard_similarity_score(np.array([[0.0, 1.0], [1.0, 1.0]]), np.array([[1.0, 1.0], [1.0, 1.0]])) 0.75 >>> print jaccard_similarity_score(np.array([[0.0, 1.0], [1.0, 1.0]]), np.array([[1.0, 1.0], [0.0, 1.0]])) 0.5 Summary In this chapter we discussed generalized linear models, which extend ordinary linear regression to support response variables with non-normal distributions. Generalized linear models use a link function to relate a linear combination of the explanatory variables to the response variable; unlike ordinary linear regression, the relationship does not need to be linear. In particular, we examined the logistic link function, a sigmoid function that returns a value between zero and one for any real number.

CIOs at Work by Ed Yourdon

8-hour work day, Apple's 1984 Super Bowl advert, business intelligence, business process, call centre, cloud computing, crowdsourcing, distributed generation, Donald Knuth, fail fast, Flash crash, Free Software Foundation, Googley, Grace Hopper, information security, Infrastructure as a Service, Innovator's Dilemma, inventory management, Julian Assange, knowledge worker, Mark Zuckerberg, Multics, Nicholas Carr, One Laptop per Child (OLPC), rolodex, Salesforce, shareholder value, Silicon Valley, six sigma, Skype, smart grid, smart meter, software as a service, Steve Ballmer, Steve Jobs, Steven Levy, the new new thing, the scientific method, WikiLeaks, Y2K, Zipcar

In addition, the analytics can be shared with out call center. The customers don’t even have to call us. We can call them and say, “A pole in your area has been damaged. Crews are on site and repair should be complete soon.” All of that is coming in the very near future. And the other thing is that in the future there will be a lot more distributed generation. For example, there may be customers that are generating their own power through solar panels. We’re putting smart meters on everyone’s home so we can tell them—in the future—how much electricity they’re using at different times of the day. If customers want to be more efficient, these smart meters have the intelligence to tell them when they’re using a lot and determine what it is that’s driving usage up.

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., 87 Arizona Public Service (APS) Company, 66, 211, 223 Arizona State University, 227 ARPANET, 19, 117, 135 Art of Computer Programming, 2 Atlanta-based Southern Company, 191 AT&T, 191, 249 B Ballmer, Steve, 39 Bank of Boston, 47 Baylor-Grapevine Board of Trustees, 47 Bedrock foundation, 249 Bell Atlantic Mobile, 231 Bell Labs, 2, 249 BlackBerry, 60, 96, 116, 121, 171, 184, 246, 261, 296, 317 Blalock, Becky, 182, 191, 215 adaptability, 192 Air Force brat, 191, 192 Atlanta-based Southern Company, 191 banking industry, 203 Boucher, Marie, 196 brainstorm, 202 24/7 business, 199 business intelligence, 204 cloud computing, 205 cognitive surplus, 206 cognitive time, 206 Coker, Dave, 196 communication and education, 200 Community and Economic Development, 194 consumer market, 202 cybersecurity, 207, 209 data analytics, 204, 205 disaster recovery, 209 distributed generation, 204 distribution organization, 201 Egypt revolution, 198 farming technology, 206 finance backgrounds/marketing, 200, 209 Franklin, Alan, 193 Georgia Power, 191 Georgia Power Management Council, 193 global society, 206 Google, 198 incredible technology, 195 Industrial Age, 206 Information Age, 206 InformationWeek's, 196 infrastructure, 202 intellectual property, 196 intelligence and redundancy, 207 Internet, 198, 206 leapfrog innovations, 205 mainframe system, 207 marketing and customer service, 193, 200 MBA, finance, 192 microfiche, 207 microwave tower, 207 mobile devices, 203 mobility and business analytics, 205 Moore's Law, 205 new generation digital natives, 197 flexible and adaptable, 199 innovation and creativity, 199 superficial fashion, 198 Olympic sponsor, 193 out pushing technology, 202 reinforcement, 201 sense of integrity, 200 Southern Company, 194, 198, 201, 207 teamwork survey, 201 technology lab, 202 undergraduate degree, marketing, 192 virtualization, 205 VRU, 203 Ward, Eileen, 196 wire business, 201 world-class customer service, 203 Bohlen, Ken, 211 American Production Inventory Control Society, 211 Apple, 217 APS, 211, 223 ASU, 227 benchmarking company, 216 chief innovation officer, 229 Citrix, 217 cloud computing, 218, 219 cognitive surplus, 220 DECnet, 212 Department of Defense, 222 distributed computing, 217 energy industry, 214 gizmo/whiz-bang show, 216 GoodLink, 217 hard-line manufacturing, 218 home computing, 219 home entertainment, 219 Honeywell, 219 HR generalists, 215 information technology department, 211 Intel machines, 217 John Deere, 213 just say yes program, 223 Lean Six Sigma improvement process, 211 Linux, 220 MBA program, 214 mentors, 213 national alerts, 224 North American universities, 228 paradigm shifts, 218, 220 PDP minicomputers, 212 Peopleware, 226 prefigurative culture, 221 R&D companies, 218 Rhode Island, 226 role models, 213 San Diego Fire Department, 224 security/privacy issues, 217 skip levels, 223 smart home concepts, 219 smartphone, 217 social media, 225 Stead, Jerry, 214 Stevie Award, 211 Storefront engineering, 212 traditional management, 219, 226 Twitter, 224 vocabulary, 221 Waterloo operations, 213 Web 2.0 companies, 227 Web infrastructure, 215 wikipedia, 220 Y2K, 222 Botnets, 23 Brian's and Rob Pike's, 2 Bristol-Myers Squibb, 33 Broadband networks, 241 Brown, 227 Bryant, 227 BT Global Services, 253 BT Innovate & Design (BTI&D), 253 Bumblebee tuna, 130 C Career writing technology, 67 CASE tools, 232 Cash, Jim, 50 Christensen, Clyde, 212 Chrome, 14, 18 Chrysler Corporation, 175 Citibank, 337 Citicorp, 313 Citrix, 217 Client-server-type applications, 59 Cloud computing, 218, 219, 239, 240, 261, 262, 310, 311, 313 Cloud technology, 62 CNN, 54 COBOL, 250 Cognitive surplus, 20, 79, 206, 291 College of Engineering, University of Miami, 113 Columbia University, 1 Community and Economic Development, 194 Computer Sciences Corporation, 35 Computerworld magazine, 196 Consumer-oriented technology, 22 Content management system, 133 Corporate information management (CIM) program, 309 Corporate Management Information Systems, 87 Corvus disk drive, 36 Customer Advisory Boards of Oracle, 191 Customer-relationship management (CRM), 56 Cutter Business Technology Council, 173 D Dallas Children's Medical Center Development Board, 48 DARPA, 19 DDoS attacks and security, 81 DECnet, 212 Dell Platinum Council, 113 DeMarco, Tom, 16, 226 Department of Defense, 222, 329, 332 Detroit Energy, 252 Digital books, 30 Digital Equipment, 48 Distributed computing, 217 Dodge, 189 Dogfooding, 11, 37, 38, 236 DTE Energy, 173 DuPont Dow Elastomers, 151 E Educational Testing Service (ETS), 151 E-government, 282, 285 Electrical distribution grid, 182 Elementary and Secondary Education Strategic Business Unit, 151 Elements of Programming Style, 2 Ellyn, Lynne, 173 advanced technology software planning, 175 Amazon, 184 artificial intelligence group, 175 Association for Women in Computing, 173 benchmark, 180, 181 BlackBerries, 184 Burns, Ursula, 175 Chrysler, 176 Cisco, 186 cloud computing, 183, 184 component-based architecture, 186 corporate communications customer service, 185 Crain's Detroit Business, 173 cyber security threats, 177 degree of competence, 187 diversity and sophistication, 182 DTE Energy, 173 energy trading, 176 engineering and science programs, 188 enterprise business systems policy, 186 executive MBA program, 176 Facebook, 185 fresh-out-of-the-university, 187 General Electric, 174 Google, 184 Grace Hopper, 174 grid re-automation, 182 Henry Ford Hospital, 174 internal social media, 185 International Coaching Federation, 178 iPads, 184 IP electrical grids, 182 iPod applications, 182 IT budgets, 186 IT responsibilities, 176 Java, 186 level of sophistication, 179 lobbying efforts, 181 medical computing, 175 Miller, Joan, 174 Mulcahey, Anne, 175 Netscape, 175 neuroscience leadership, 189 object-oriented programming, 186 Oracle, 186 peer-level people, 179 people system, 177 policies and strategies, 180 Radio Shack, 180 remote access capacity, 189 security tool and patch, 183 sense of community, 180 Shipley, Jim, 174 smart grid, 177, 182 smart meters, 182 smart phone applications, 183 swarming, 179 technical competence, 178, 179 Thomas, Marlo, 174 Twitter, 185 UNITE, 181 vendor community, 186 virtualization, 183, 184 Xerox, 175 E-mail, 9 Employee-relationship management (ERM), 56 Encyclopedia, 115 Encyclopedia Britannica, 292 ERP, 123 F Facebook, 244 Ellyn, Lynne, 185 Sridhara, Mittu, 73, 84 Temares, Lewis, 116, 121, 131 Wakeman, Dan, 169 Federal information technology investments, 299 Flex, 236 Ford, 102 Ford, Monte, 47 agile computing, 59 agile development, 62, 66 airplanes, 51 American Airlines, 47 Arizona Public Services, 66 Bank of Boston, 47 Baylor-Grapevine Board of Trustees, 47 BlackBerry, 60 board of Chubb, 51 board of Tandy, 51 business organizations, 63 business school, dean, 50 career writing technology, 67 client-server-type applications, 59 cloud technology, 62 CNN, 54 common-sense functionality, 49 consumer-based technology, 60 CRM, 56 Dallas Children's Medical Center Development Board, 48 Digital Equipment, 48 ERM, 56 financial expert, 69 frequent-flier program, 57 frontal lobotomy, 57 Harvard Business Review, 50 HR policies, 65 IBM, 48 information technology, 47, 52 Internet, 54 Internet-based protocol, 59 iPhone, 52 IT stuff, 58 Knight Ridder, 51 legacy apps, 59 mainframe-like applications, 59 management training program, 64 marketing and technical jobs, 48 Maynard, Massachusetts mill, 48 MBA program, 50 mentors, 49 Microsoft, 50 mobile computing, 62 New York Times, 53 operations center, 54 PDP-5, 49 PDP-6, 49 Radio Shack, 51 revenue management, 57 role models, 49 security paradigms, 62 self-service machine, 57 Silicon Valley companies, 68 smartphones, 54 social networking, 51, 53, 56, 58 stateful applications, 59 techie department, 48 The Associates First Capital Corporation, 47 transmission and distribution companies, 47 wireless network, 59 YouTube, 65 Fort Worth, 226 Free software foundation, 19 Fried, Benjamin, 1, 241 agile development, 25 agile methodologies, 26 Apple Genius Bar, 8 ARPANET, 19 Art of Computer Programming, 2 Bell Labs, 2 books and records, accuracy, 25 botnets, 23 Brian's and Rob Pike's, 2 cash-like principles, 29 CFO, 4 check writers, 18 chrome, 14, 18 classic computer science text, 1 cognitive surplus, 20 Columbia University, 1 compensation management, 7 competitive advantage, 9, 18 computer science degree, 1 computer scientists, 6 consumer-driven computing, 12 consumer-driven software-as-a-service offerings, 12 consumer-driven technology, 12 consumer-oriented technology, 14, 22 corporate leadership, 25 cost centers, 4 DARPA, 19 decision makers, 17 decision making, 13 360-degree performance management, 7 detroit energy, 30 digital books, 30 document workbench, 2 dogfooding, 11 e-books, 29 Elements of Programming Style, 2 e-mail, 9 end-user support, 7 engineering executive group, 4 European vendors, 6 file servers and print servers, 17 Folger Library editions, 30 free software foundation, 19 German company, 13 German engineering, 13 Gmail, 15 Godot, 26 Google, 1 books, 29 products, 5, 10 software engineers, 6 hiring managers, 6 HR processes and technologies, 6 IBM model, 13 instant messaging, 9 Internet age, 6 interviewers, training, 6 iPad, 29 iPhone, 29 IPO, 3 IT, engineering and computer science parts, 4 Knuth's books, 2 Linux machine, 8 Linux software, 19 machine running Windows, 8 Macintosh, 8 Mac OS, 9 macro factors, 11 Managing Director, 1 mentors, 1 microcomputers, 18 Microsoft, 5 Minds for Sale, 20 Morgan Stanley, 1–3, 5, 16 nonacademic UNIX license, 2 nontechnical skills, 5 oil exploration office, 17 open-source phone operating system, 20 outlook, 15 PARC, 19 performance review cycles, 7 personal computer equipment, 15 post-Sarbanes-Oxley world, 25 project manager, 13 quants, 24 rapid-release cycle, 26 R&D cycle, 24 regression testing, 27 role models, 1 shrink-wrapped software, 14 signature-based anti-virus, 22 smartphone, 20, 27 social contract, 8 society trails technology, 21 software engineering tool, 13 software installation, 14 supply chain and inventory and asset management, 10 SVP, 4 telephony, 17 ten things, 13 TMRC, 19 TROFF, 2 typesetter workbench, 2 UI designer, 14 university computing center, 28 videoconferencing, 12 Visicalc, 24 Wall Street, 23 Walmart, 6 waterfall approach, 25 XYZ widget company, 5 YouTube video, 20 G Gates, Bill, 39, 50 General Electric, 134 General Foods, 309, 326–328 General Motors, 33, 321, 329, 332 George Mason School of Information Technology, 309 Georgia Power Company, 191–193, 196 Georgia Power Management Council, 193 German company, 13 German engineering, 13 German manufacturing company, 232 Gizmo/whiz-bang show, 216 Gmail, 15 GoodLink, 217 Google, 1, 84, 85, 117, 217, 219, 220, 222, 235, 241, 263, 302, 319 apps, 314 books, 29 commercial products, 10 model, 293 Government Accountability Office (GAO), 305 4G program, 250 4G smartphone, 235 GTE, 231 Gupta, Ashish aspiration, organization, 256 bandwidth and network infrastructure, 267 BlackBerry, 261 business and customer outcomes, 274 capital investment forums, 269 career progression, 255 cloud-based shared infrastructure model, 263 cloud computing, 261, 262 collaboration, 272 communications infrastructure, 258 compute-utility-based model, 262 control and integrity, 268 core competency, 255 core network infrastructure, 267 core strengths, 256 cost per unit of bandwidth, 267 customer demands, 268 data protection, 261, 262 decision-making bodies, 269 demographics, 272, 273 device convergence, 263 dogfooding, 259 employee flexibility, 260, 264 engagement and governance, 269 enterprise market segment, 261 equipment management, 260 executive MBA, 256 fourth-generation LTE networks, 267 functional service departments, 270 Global Services, distributed organization, 257 Google, 263, 275 Google Apps, 266 handheld devices, 265 hastily formed networks, 258 IMF, 266 innovation and application development, 265 iPad, 257, 260, 261, 266,267 iPhone, 266 Japan, 257, 258 London Business School, 253 management functions, 257 management sales functions, 257 market segments, 259 MBA, General Management, 253 measurements, 271 messaging with voice capability, 264 mini-microcomputer model, 261 mobile communications network, 258 mobile-enabling voice, 259 mobile phone network, 260 mobile traffic explosion, 265 network infrastructures, 265 network IT services, 254 network quality, 257 new generation digital natives, 271 disadvantages, 273 Google, 273 opportunities, 273 Olympics, 263 opportunities, 275 organizational construct, 272 outsourced network IT services, 259 outsourcing, 271 per-use-based model, 262 portfolio and business alignment, 274 Portfolio & Service Design (P&SD), 253 primary marketing thrust, 264 product development thrust, 264 product management team, 259 project and program management, 255 resource balance, 270 scalability, 262 security, 262 Selley, Clive, 254, 255 service delivery organization, 254 single-device model, 264 smart devices, 267 smart phones, 266 telecommunications capability, 259 upward-based apps, 264 virtualization, 261 voice-over-IP connections, 258 Windows platform, 261 Gurnani, Roger, 231 accounting/finance department, 233 analog cellular networks, 250 AT&T, 249 bedrock foundation, 249 Bell Atlantic Mobile, 231 Bell Labs, 249 blogs, 244 broadband networks, 241 business benefits, 237 business device, 240 business executives, 238 business leaders, 248, 249 business relationship management, 248 buzzword, 239 CASE tools, 232 cloud computing, 239, 240 COBOL, 250 consumer and business products, 231 consumer electronics devices, 241 consumer telecom business, 233 customer-engagement channel, 244 customer forums, 244 customer support operations, 251 customer-touching channels, 236 degree of control, 246 distribution channel, 250 dogfooding, 236 ecosystem, 243, 249 enterprise business, 233 ERP systems, 236 face-to-face communications, 244 FiOS product, 235 flex, 236 "follow the sun" model, 239 German manufacturing company, 232 4G program, 250 4G smartphone, 235 hardware/software vendors, 247 information assets, 245 information technology strategy, 231 intellectual property rights, 244 Internet, 235, 239 iPhone, 243 Ivan, 232 Lowell, 232 LTE technology-based smartphone, 235 marketing, 251 MIT, 246 mobile technology, 234 Moore's law, 242 MP3 file, 235 network-based services, 240 Nynex Mobile, 233 P&L responsibility, 251 PDA, 238 personal computing, 235 product development, 234, 251 role models, 232 sales channels, 251 smartphones, 238 state-level regulatory issues, 251 state-of-the-art networks, 243 telecom career, 232 telephone company, Phoenix, 234 Verizon Communication, 231, 232 virtual corporations, 241 Web 2.0, 244 Williams Companies, 232, 233 WillTell, 233 wireless business, 233 H Hackers, 19 Harmon, Jay, 213 Harvard Business Review, 50 Harvard Business School, 331 Heller, Martha, 171 Henry Ford Hospital, 174 Hewlett-Packard piece, 129 Home computing, 219 Honda, 102 Honeywell, 219 Houghton Mifflin, 134, 136 I IBM, 48, 250 manpower, 311 model, 13 Indian IT outsourcing company, 255 Information technology, 52 Intel machines, 217 International Coaching Federation, 178 Internet, 9, 44, 54, 117, 235, 239, 316, 322 Internet-based protocol, 59 Interoperability, 341 iPads, 2, 94, 97, 184, 257, 260, 264, 267, 288, 289, 295, 296 IP electrical grids, 182 iPhones, 43, 52, 96, 101, 170, 181, 260, 264,296 iPod, 101 IT lifecycle management process, 37 Ivan, 232 J John Deere, 213 K Kansas, 226 Kernigan, Brian, 2 Knight Ridder, 51 Knuth, Donald, 2, 29 Kraft Foods Inc, 309 Krist, Nicholas, 28 Kundra, Vivek Clever Commute, 305 cognitive surplus, 303 command and control systems, 301 consumerization, 302 consumption-based model, 300 cyber-warfare, 301 Darwinian pressure, 302 desktop core configuration, 306 digital-borne content, 301 digital oil, 300, 307 digital public square, 304 enterprise software, 303 entrepreneurial startup model, 306 frugal engineering, 306 Google, 302 government business, 302 innovator's dilemma, 307 iPad, 302 IT dashboard, 302 leapfrog technology, 306 massive consumerization, 301 megatrends, 301 parameter security, 302 Patent Office, 305 pharmaceutical industry, 304 phishing attacks, 301 policy and strategic planning, 299 security and privacy, 301 server utilization, 300 social media and technology, 300, 306 storage utilization, 300 Trademark Office, 305 Wikipedia, 303 L LAN, 259 Lean Six Sigma improvement process, 211 Levy, Steven (Hackers), 19 Linux, 220 machine, 8 open-source software, 19 Lister, Tim, 226 London Business School, 73, 253, 256 Long-term evolution (LTE), 235 Lowell, 232 M MacArthur's intelligence officer, 327 Macintosh, 8 Mainframe computers, 118 Mainframe-like applications, 59 Marriott's Great America, 35 McDade, 327 McGraw-Hill Education, 133, 147, 150 Mead, Margaret, 221 Mendel, 311 Microcomputers, 18 Microsoft Corporation, 5, 11, 33, 36, 38, 41, 44, 46, 50, 156, 217, 223, 236, 250, 293 Microsoft Higher Education Advisory Group, 113 Microsoft's operational enterprise risk management, 33 Middlesex University, 189 Miller, Joan Apple products, 295 authority and accuracy, 292 award-winning ICT programs and services, 277 back locked-down information, 289 big-scale text issues, 294 big-time computing, 279 BlackBerry, 296 business management training, 281 business skills, 281 central government, 283 cognitive surplus, 291 community care project, 278 community development programs, 277, 278 computers, constituency office, 294 confidential information, 284 data management, 281 decision making, 286 democratic process, 288 economics degree, 278 e-government, 282, 285 electronic communication, 289 electronic-enabled public voice, 286 electronic information, 288 electronic media, 286 electronic records, 280, 284 electronic services, 294 e-mail, 289, 290, 295 forgiving technology, 296 front-office service, 282, 283 Google, 292 Google's cloud service, 290 Government 2, 287 Health and Social Care, 284 House business, 294 House of Lords, 288 ICT strategy, 289, 290 information management, 278 insurance company, 278 Internet information, 285 iPad, 288, 289, 296 IT data management, 279 management principle, 280 local government, 283 mainframe environment, 289 member-led activity, 287 messages, 289 Microsoft, 293 Microsoft's cloud service, 290 mobile electronic information, 284 mobile technology, 289 national organization, 284 network perimeters, 290 official government information, 285 on-the-job training, 281 organizational planning, 278 Parliamentary ICT, 277 project management, 279 public sector, 282 public transportation, 285 quango-type organizations, 283 representational democracy, 286 security, 290, 291 social care organization, 279 social care services, Essex, 278 social care systems, 284 social networking, 285 sovereignty, 291 sustainability and growth, 293 technical language, 294 technology skills, 281 transactional services, 285 transferability, 291 Web-based services, 285 Wikipedia, 291, 292 X-factor, 286 Minds for Sale, 20 Mitchell & Co, 333 MIT Media Labs, 149 Mobile computing, 62 Mobile technology, 234 Mooney, Mark, 133 artificial intelligence, 134 back-office legacy, 136 balancing standpoint, 145 BBC, 140 Bermuda Triangle, 135 BlackBerry shop, 142 Bureau of National Standards, 136 business model, 140 career spectrum, 144 cloud computing, 148 competitive intelligence and knowledge, 143 Connect, 141 customer-facing and product development, 135 customer-facing product space, 137 customer space and product development, 136 digital products development, 144 digital space and product, 146 educational and reference content, 139 educational products, 141 entrepreneur, 150 General Electric, 134 GradeGuru, 140 handheld devices, 142 hard-core technical standpoint, 146 hardware servers, 142 Houghton Mifflin, 134, 136 HTML, 138 industrial-strength product, 141 intellectual content, 148 Internet, 148 iPad, 138, 139, 142 iPhone, 142, 143 iTunes, 138 Klein, Joel, 147 learning management systems, 137 long-term production system, 141 Marine Corps, 134 McGraw-Hill Education, 133, 147 media development, 144 media space, 138, 142 mobile computing, 139 MOUSE, 150 online technology, 138 open-source capabilities, 142 Oracle quota-management system, 143 people's roles and responsibilities, 137 Phoenix, 149 product development, 149 publishing companies, 142 publishing systems, 137 Reed Elsevier, 133, 136 Salesforce.com, 144, 149 scalability testing, 145 senior business leaders, 146 social network, 148 soft discipline guidelines, 141 solar energy, 149 Strassmann, Paul, 135 technical skill set, 143, 144 testing systems integration, 145 The Shallows, 139 transactional systems, 142 trust and integrity, 145 TTS, QuickPro, and ACL, 144 Vivendi Universal, 134 War and Peace today, 139 Moore's law, 242 Morgan Stanley, 2, 3, 16 N NASA, 309, 333, 334 National Institute of Standards and Technology (NIST), 173 Naval Postgraduate School, 134 Netscape, 175 New Brunswick model, 282 News Corp., 147 New York Stock Exchange (NYSE), 87, 116, 223, 278 New York Times, 53 North American universities, 228 NSA/CIA software, 134 Nynex Mobile, 233 O Oil exploration office, 17 Open-source phone operating system, 20 Outlook, 15 P Pacer Software, 135 Paradigm shifts, 218, 220 Parks and Recreation Department, 126 PDP minicomputers, 212 Peopleware, 226 Personal computing, 235 Personal digital assistant (PDA), 238 Petri dish, 44 Phoenix, 211 Plauger, Bill, 2 Q Quants, 24 R Radio Shack, 51 Reed Elsevier, 133, 136 Reed, John, 335 Rubinow, Steve, 87 AdKnowledge, Inc., 87 agile development, 110 Agile Manifesto, 110 Archipelago Holdings Inc., 87 attributes, 108 capital market community, 91 cash/actual trading business, 88 channel marketing departments, 92 cloud computing, 97 CNBC, 89 collaborative technology, 95 collective intelligence, 95 communication skills, 102, 106 conference organizations, 99 consumer marketplace, 94 data center, 90 decision making, 105, 108 economy standpoint, 100 e-mail, 100 Fidelity Investments, 105 financial services, 92 IEEE, 101 innovative impression, 94 Internet, 98 iPad, 97 iPod device, 91 labor laws, 110 listening skills, 106 logical progression, 104 Mac, 96 mainframe, 104 management and leadership, 104, 105 market data system, 89 micro-second response time, 89 mobile applications, 94 multidisciplinary approach, 103 multimedia, 97 multi-national projects, 110 multiprocessing options, 99 network operating system, 103 NYSE Euronext, 87 open outside system, 88 parallel programming models, 99 personal satisfaction, 109 PR function, 106 proclaimed workaholic, 109 real estate business, 88 regulatory and security standpoint, 96 Rolodex, 94 Rubin, Howard, 99 server department, 97 software development, 89 sophisticated technology, 101 technology business, 88 technology integration, 91 trading engines, 90 typewriter ribbon, 94 virtualization, 98 Windows 7, 96 younger generation video games, 93 visual interfaces, 93 Rumsfeld, Donald, 222 S San Diego Fire Department, 224 Santa Clara University, 36 SAS programs, 131 Scott, Tony, 10, 33, 236 Android, 43 Apple Computer, 35 architectural flaw, 44 BASIC and Pascal, 35 Bristol-Myers Squibb, 33 Bunch, Rick (role model), 34 business groups, 42 COO, 39 Corporate Vice President, 33 Corvus disk drive, 36 CSC, 35 Defense department, 45 dogfooding, 37, 38 games and arcades, 35 General Motors, 33 IBM's role, 37 information systems management, 36 integrity factor, 40 Internet, 44 iPhone, 43 IT lifecycle management process, 37 leadership capability, 40 leisure studies, 34 macro-architectural threats, 44 Marriott's Great America, 35 math models, 36 Microsoft Corporation, 33, 36, 38, 41, 44, 46 Microsoft's operational enterprise risk management, 33 parks and recreation, 34 Petri dish, 44 playground leader, 42 product groups, 42 quality and business excellence team, 33 Santa Clara University, 36 Senior Vice President, 33 smartphone, 43 social computing, 38 Sun Microsystems, 36 theme park industry, 35 University of Illinois, 34 University of San Francisco, 36 value-added business, 33 Walt Disney Company, 33 Senior Leadership Technology and Product Marketing, 71 Shakespeare, 30 Shirky, Clay, 220 Sierra Ventures, 191 Silicon Valley companies, 68 Silicon Valley software factories, 323 Skype, 118 Smart Grid Advisory Committee, 177 Smartphones, 20, 27, 43, 54, 217, 238 Social care computer electronic record system, 279 Social computing, 38, 320 Social networking, 51, 53, 56, 58 Society trails technology, 21 SPSS programs, 131 Sridhara, Mittu, 71 Amazon, 76 American Airlines, 72 back-end computation and presentation, 80 banking, 77 B2B and B2C, 85 business/product departments, 82 business work context, 74 buzzword, 77 career aspiration, 73 career spans, 73 coders, 72 cognitive surplus, 79 competitive differentiation, 74 computing power, 78 contribution and energy, 85 convergence, 75 CPU cycles, 78 cross-channel digital business, 71 cultural and geographic implementation, 72 customer experience, 84, 85 customer profile, 76 data visualization, 79, 80 DDoS protection, 81 economies of scale, 77 elements of technology, 72 encryption, 82 end customer, 83 entertainment, 75 ERP system, 72 Facebook, 84 finance and accounting, 73 foster innovation and open culture, 81 friends/mentors/role models, 74 FSA, 76 gambling acts, 81 games, 79 gaming machines, 80 GDS, 72 global organization, 71 Google, 75, 84, 85 Group CIO, Ladbrokes PLC, 71 industry-standard technologies, 77 integrity and competence, 83 IT, 74, 82 KickOff app, 71 land-based casinos, 79 live streaming, 78 London Business School, 73 mobile computing, 78 multimedia, 84 new generation, 84 on-the-job training, 73 open-source computing, 79 opportunity, 80, 83 PCA-compliant, 81 personalization, 76 real-time systems, 74 re-evaluation, 81 reliability and availability, 77 security threats, 80 smart mobile device, 75 technology-intense customer, 85 top-line revenue, 74 trader apps, 82 true context, 73 underpinning business process, 76 virtualization, 78 Visa/MasterCard transactions, 78 Web 3.0 business, 76 web-emerging web channel, 76 Wikipedia, 79, 85 Word documents and e-mail, 82 work-life balance, 84 young body with high miles, 72 Zuckerberg, Mark, 73 Stead, Jerry, 214 Storefront engineering, 212 Strassmann, Paul, 228, 309 agile development, 340 Amazon EC2, 314 America information processors, 322 Annapolis, 340 AT&T, 332 backstabbing culture, 339 BlackBerry, 317 block houses, 319 CFO/CEO position, 337 CIM program, 309 Citibank, 337 Citicorp, 313, 339 cloud computing, 310, 311, 313 coding infrastructure, 341 communication infrastructure, 341 corporate information management, 329 Corporate Information Officer, 309 counterintelligence, 320 cyber-operations, 338 Dell server, 314 Department of Defense, 329, 332 Director of Defense Information, 309 employee-owned technology, 316 enterprise architecture, 316 exfiltration, 313 financial organizations, 320 firewalls and antiviruses, 312 General Foods, 309, 326–328 General Motors, 321, 329, 332 George Mason School of Information Technology, 309 Google apps, 314 government-supported activities, 326 Harvard Business School, 331 HR-related issues, 331 IBM manpower, 311 infiltration, 313 Internet, 316, 322 interoperability, 315, 317, 341 Kraft Foods Inc, 309 MacArthur's intelligence officer, 327 Machiavellian view, 327 mash-up, 316 military service, 331 NASA, 309, 333, 334 police department, economics, 312 powerpoint slides, 324 Radio Shack, 319 senior executive position, 334 service-oriented architecture, 316 Silicon Valley software factories, 323 social computing, 320 Strassmann's concentration camp, 318 structured methodologies, 342 U.S.

Handbook of Modeling High-Frequency Data in Finance by Frederi G. Viens, Maria C. Mariani, Ionut Florescu

algorithmic trading, asset allocation, automated trading system, backtesting, Bear Stearns, Black-Scholes formula, book value, Brownian motion, business process, buy and hold, continuous integration, corporate governance, discrete time, distributed generation, fear index, financial engineering, fixed income, Flash crash, housing crisis, implied volatility, incomplete markets, linear programming, machine readable, mandelbrot fractal, market friction, market microstructure, martingale, Menlo Park, p-value, pattern recognition, performance metric, power law, principal–agent problem, random walk, risk free rate, risk tolerance, risk/return, short selling, statistical model, stochastic process, stochastic volatility, transaction costs, value at risk, volatility smile, Wiener process

PROPOSITION 7.5 If X ∼ GHd (λ, χ , ψ, μ, , γ ) and Y = BX + b, where B ∈ Rk×d and b ∈ Rk , then Y ∼ GHk (λ, χ , ψ, Bμ + b, BB , Bγ ). Proof . i t (BX +b) φY (t) = E(e it b )=e i t (Bμ+b) φX (B t) = e H t BB t − it Bγ . 2 This proposition shows that linear transformations of GH distributions remain in the class of GH distributions generated by the same GIG distribution N − (λ, χ , ψ), which is a useful property in portfolio management. COROLLARY 7.6 If B = ω = (ω1 , . . . , ωd ) and b = 0, then y = ω X is a one-dimensional GH distribution, and y ∼ GH1 (λ, χ , ψ, ω μ, ω ω, ω γ ). More specifically, the margins of X is X i ∼ GH1 (λ, χ , ψ, μi , ii , γi ). 170 CHAPTER 7 Risk Forecasting with Multiple Timescales This corollary shows that the method used in portfolio risk management based on multivariate normal distribution is also applicable to GH distribution.

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Moreover, when γ = 0, the skewed t distribution degenerates into the Student t distribution. As implied by its name, an inverse gamma r.v. is the inverse of a gamma r.v. Together with the mean–variance mixture definition, we can generate a skewed t r.v. accordingly. 171 7.2 The Skewed t Distributions ALGORITHM 7.8 1. 2. 3. 4. Simulation of the Skewed t Distribution. Generate Y from a Gamma( ν2 , ν2 ) distribution. Set W = Y −1 . By definition, W ∼ InverseGamma( ν2 , ν2 ). Generate a d-dimensional normal random vector Z ∼ Nd (0, Id ). Let √ X = μ + W γ + W AZ . Then X ∼ SkewT (ν, μ, , γ ). Other subfamilies of the GH distribution include Hyperbolic Distributions If λ = (d + 1)/2, we refer to the distribution as a d-dimensional hyperbolic distribution.

Anarchy State and Utopia by Robert Nozick

distributed generation, Herbert Marcuse, invisible hand, Jane Jacobs, Kenneth Arrow, laissez-faire capitalism, Machinery of Freedom by David Friedman, means of production, Menlo Park, moral hazard, night-watchman state, Norman Mailer, Pareto efficiency, price discrimination, prisoner's dilemma, rent control, risk tolerance, Ronald Coase, school vouchers, The Death and Life of Great American Cities, The Nature of the Firm, transaction costs, Yogi Berra

Almost every suggested principle of distributive justice is patterned: to each according to his moral merit, or needs, or marginal product, or how hard he tries, or the weighted sum of the foregoing, and so on. The principle of entitlement we have sketched is not patterned.am There is no one natural dimension or weighted sum or combination of a small number of natural dimensions that yields the distributions generated in accordance with the principle of entitlement. The set of holdings that results when some persons receive their marginal products, others win at gambling, others receive a share of their mate’s income, others receive gifts from foundations, others receive interest on loans, others receive gifts from admirers, others receive returns on investment, others make for themselves much of what they have, others find things, and so on, will not be patterned.

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Holdings ought not to be distributed according to natural assets. But differences in natural assets might be correlated with other differences that are not arbitrary from a moral point of view and that are clearly of some possible moral relevance to distributional questions. For example, Hayek argued that under capitalism distribution generally is in accordance with perceived service to others. Since differences in natural assets will produce differences in ability to serve others, there will be some correlation of differences in distribution with differences in natural assets. The principle of the system is not distribution in accordance with natural assets; but differences in natural assets will lead to differences in holdings under a system whose principle is distribution according to perceived service to others.

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism by Jeremy Rifkin

3D printing, active measures, additive manufacturing, Airbnb, autonomous vehicles, back-to-the-land, benefit corporation, big-box store, bike sharing, bioinformatics, bitcoin, business logic, business process, Chris Urmson, circular economy, clean tech, clean water, cloud computing, collaborative consumption, collaborative economy, commons-based peer production, Community Supported Agriculture, Computer Numeric Control, computer vision, crowdsourcing, demographic transition, distributed generation, DIY culture, driverless car, Eben Moglen, electricity market, en.wikipedia.org, Frederick Winslow Taylor, Free Software Foundation, Garrett Hardin, general purpose technology, global supply chain, global village, Hacker Conference 1984, Hacker Ethic, industrial robot, informal economy, information security, Intergovernmental Panel on Climate Change (IPCC), intermodal, Internet of things, invisible hand, Isaac Newton, James Watt: steam engine, job automation, John Elkington, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Julian Assange, Kickstarter, knowledge worker, longitudinal study, low interest rates, machine translation, Mahatma Gandhi, manufacturing employment, Mark Zuckerberg, market design, mass immigration, means of production, meta-analysis, Michael Milken, mirror neurons, natural language processing, new economy, New Urbanism, nuclear winter, Occupy movement, off grid, off-the-grid, oil shale / tar sands, pattern recognition, peer-to-peer, peer-to-peer lending, personalized medicine, phenotype, planetary scale, price discrimination, profit motive, QR code, RAND corporation, randomized controlled trial, Ray Kurzweil, rewilding, RFID, Richard Stallman, risk/return, Robert Solow, Rochdale Principles, Ronald Coase, scientific management, search inside the book, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, smart cities, smart grid, smart meter, social web, software as a service, spectrum auction, Steve Jobs, Stewart Brand, the built environment, the Cathedral and the Bazaar, the long tail, The Nature of the Firm, The Structural Transformation of the Public Sphere, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thomas Kuhn: the structure of scientific revolutions, Thomas L Friedman, too big to fail, Tragedy of the Commons, transaction costs, urban planning, vertical integration, warehouse automation, Watson beat the top human players on Jeopardy!, web application, Whole Earth Catalog, Whole Earth Review, WikiLeaks, working poor, Yochai Benkler, zero-sum game, Zipcar

Silent Theft: The Private Plunder of Our Common Wealth. New York: Rutledge, 2003. ———. Viral Spiral. New York: The New Press, 2008. Bonpasse, Morrison. The Single Global Currency. Newcastle, ME: Single Global Currency Association, 2006. Borbely, Anne-Marie and Jan F. Kreider. Distributed Generation: The Power Paradigm for the New Millennium. Washington DC: CRC Press, 2001. Botsman, Rachel and Roo Rogers. What’s Mine Is Yours: The Rise of Collaborative Consumption. New York: HarperCollins, 2010. Boyle, James. Cultural Environmentalism and Beyond. San Francisco: Creative Commons, 2007.

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Race Against the Machine: How the Digital Revolution Is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy. Lexington, MA: Digital Frontier Press, 2011. Burger, Christoph and Jens Weinmann. The Decentralized Energy Revolution. New York: Palgrave Macmillan, 2013. Carr, Nicholas. The Big Switch. New York: W.W. Norton, 2009. Chambers, Ann. Distributed Generation. Tulsa: PennWell Corporation, 2001. Chandler Jr., Alfred D. The Visible Hand: The Managerial Revolution in American Business. Cambridge: The Belknap Press of Harvard University Press, 1977. Chesbrough, Henry. Open Innovation. Boston: Harvard Business School Press, 2006. Christman, John.

The New Map: Energy, Climate, and the Clash of Nations by Daniel Yergin

"RICO laws" OR "Racketeer Influenced and Corrupt Organizations", 3D printing, 9 dash line, activist fund / activist shareholder / activist investor, addicted to oil, Admiral Zheng, Albert Einstein, American energy revolution, Asian financial crisis, autonomous vehicles, Ayatollah Khomeini, Bakken shale, Bernie Sanders, BRICs, British Empire, carbon tax, circular economy, clean tech, commodity super cycle, company town, coronavirus, COVID-19, decarbonisation, deep learning, Deng Xiaoping, Didi Chuxing, disruptive innovation, distributed generation, Donald Trump, driverless car, Edward Snowden, Elon Musk, energy security, energy transition, failed state, Ford Model T, geopolitical risk, gig economy, global pandemic, global supply chain, green new deal, Greta Thunberg, hydraulic fracturing, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), inventory management, James Watt: steam engine, John Zimmer (Lyft cofounder), Kickstarter, LNG terminal, Lyft, Malacca Straits, Malcom McLean invented shipping containers, Masayoshi Son, Masdar, mass incarceration, megacity, megaproject, middle-income trap, Mikhail Gorbachev, mutually assured destruction, new economy, off grid, oil rush, oil shale / tar sands, oil shock, open economy, paypal mafia, peak oil, pension reform, power law, price mechanism, purchasing power parity, RAND corporation, rent-seeking, ride hailing / ride sharing, rolling blackouts, Ronald Reagan, Russian election interference, self-driving car, Silicon Valley, smart cities, social distancing, South China Sea, sovereign wealth fund, Suez crisis 1956, super pumped, supply-chain management, TED Talk, trade route, Travis Kalanick, Twitter Arab Spring, Uber and Lyft, uber lyft, ubercab, UNCLOS, UNCLOS, uranium enrichment, vertical integration, women in the workforce

They are shifting from traditional “central” generation, based on coal and gas and nuclear power plants, to “distributed and intermittent” generation based on wind farms and solar panels that are spread across the landscape. But “distributed” systems create new challenges, especially in terms of grid stability and reliability, which is a fundamental mission of utilities. “With the advancement of distributed generation, with the monitoring of two-way flows on the system, with managing circuit overload potentials, more technology is going to have to be put into storage and control mechanisms,” says Christopher Crane, CEO of the U.S. utility Exelon and chairman of the Edison Electric Institute.6 * * * — How fast will the transition be, and what will it look like on the other side?

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Some companies are already players in wind; and some, long accustomed to building and managing large complex offshore oil and gas platforms, are now entering the offshore wind business. If the future is increasing electrification, to what degree will oil and gas companies be moving into electric power? Some already are. Financial returns will be a question. Power and renewable projects—“lower-carbon generation and distribution”—generally operate in highly-regulated markets and deliver lower rates of return than those traditionally of oil and gas projects. How will they square the circle with demands for returns from investors—which have to meet the retirement and pension needs of their fund-holders—and yet deliver an increasingly “green” portfolio for activist shareholders and millennial investors interested in “impact”?

Economics Rules: The Rights and Wrongs of the Dismal Science by Dani Rodrik

airline deregulation, Alan Greenspan, Albert Einstein, bank run, barriers to entry, behavioural economics, Bretton Woods, business cycle, butterfly effect, capital controls, carbon tax, Carmen Reinhart, central bank independence, collective bargaining, congestion pricing, Daniel Kahneman / Amos Tversky, David Ricardo: comparative advantage, distributed generation, Donald Davies, Edward Glaeser, endogenous growth, Eugene Fama: efficient market hypothesis, Everything should be made as simple as possible, Fellow of the Royal Society, financial deregulation, financial innovation, floating exchange rates, fudge factor, full employment, George Akerlof, Gini coefficient, Growth in a Time of Debt, income inequality, inflation targeting, informal economy, information asymmetry, invisible hand, Jean Tirole, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, labor-force participation, liquidity trap, loss aversion, low skilled workers, market design, market fundamentalism, minimum wage unemployment, oil shock, open economy, Pareto efficiency, Paul Samuelson, price elasticity of demand, price stability, prisoner's dilemma, profit maximization, public intellectual, quantitative easing, randomized controlled trial, rent control, rent-seeking, Richard Thaler, risk/return, Robert Shiller, school vouchers, South Sea Bubble, spectrum auction, The Market for Lemons, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Thomas Malthus, trade liberalization, trade route, ultimatum game, University of East Anglia, unorthodox policies, Vilfredo Pareto, Washington Consensus, white flight

., 151n Darwin, Charles, 113 Davis, Donald, 108 day care, 71, 190–91 Debreu, Gerard, 49–51 debt, national, 153 decision trees, 89–90, 90 DeLong, Brad, 136 democracy, social sciences and, 205 deposit insurance, 155 depreciation, currency, 153 Depression, Great, 2, 128, 153 deregulation, 143, 155, 158–59, 162, 168 derivatives, 153, 155 deterrence, in game theory, 33 development economics, 75–76, 86–93, 90, 159–67, 169, 201, 202 colonial settlement and, 206–7 institutions and, 98, 161, 202, 205–7 reform fatigue and, 88 diagnostic analysis, 86–93, 90, 97, 110–11 Dijkgraaf, Robbert, xiv “Dirtying White: Why Does Benn Steil’s History of Bretton Woods Distort the Ideas of Harry Dexter White?” (Boughton), 1n distribution, general theory of, 121 distribution, neoclassical theory of, 122, 124 Dixit, Avinash, xv, 61 Doan, pınar, xv Doing Growth Diagnostics in Practice (Hausmann, Klinger, and Wagner), 111n dollar, depreciation of, 153 dual economy models, 88 Duflo, Esther, 107 duopolies, 13n, 68 Dutch disease syndrome, 60, 61, 73, 100 East Anglia, University of, 172n Econometrica, 36 econometrics, 133 economic growth, 86–93, 90, 97, 110–11, 147–49 capital flow in, 17–18, 114, 164–67 currency in, 163–64, 167 public spending in, 76–78, 114 Washington Consensus and, 159–67, 169 economics: ambition, humility and, 208–11 antipoverty programs and, 3–4 behavioral factors in, 69–71, 104–7, 202–4 business cycles in, 125–37 contingent explanations of social life in, xiii critical assumptions in, 18, 26–29, 94–98, 150–51, 180, 183–84, 202 critics and, 177–211 definitions of, 7 developing economies and, see development economics efficiency in, xiii, 14, 21, 34, 48, 50, 51, 67, 98, 125, 147, 148, 150, 156–58, 161, 165, 170, 192–95, 196 errors of commission in, 159–67 errors of omission in, 152–59 field experiments in, 23–24, 105–8, 173, 202–5 game theory and, 5, 14–15, 33, 36, 61–62, 68, 103–4, 133 government policies and, 75–76, 87, 88, 147–48, 149, 160–61, 171 “hedgehog” vs.

MacroWikinomics: Rebooting Business and the World by Don Tapscott, Anthony D. Williams

"World Economic Forum" Davos, accounting loophole / creative accounting, airport security, Andrew Keen, augmented reality, Ayatollah Khomeini, barriers to entry, Ben Horowitz, bioinformatics, blood diamond, Bretton Woods, business climate, business process, buy and hold, car-free, carbon footprint, carbon tax, Charles Lindbergh, citizen journalism, Clayton Christensen, clean water, Climategate, Climatic Research Unit, cloud computing, collaborative editing, collapse of Lehman Brothers, collateralized debt obligation, colonial rule, commoditize, corporate governance, corporate social responsibility, creative destruction, crowdsourcing, death of newspapers, demographic transition, digital capitalism, digital divide, disruptive innovation, distributed generation, do well by doing good, don't be evil, en.wikipedia.org, energy security, energy transition, Evgeny Morozov, Exxon Valdez, failed state, fault tolerance, financial innovation, Galaxy Zoo, game design, global village, Google Earth, Hans Rosling, hive mind, Home mortgage interest deduction, information asymmetry, interchangeable parts, Internet of things, invention of movable type, Isaac Newton, James Watt: steam engine, Jaron Lanier, jimmy wales, Joseph Schumpeter, Julian Assange, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, machine readable, Marc Andreessen, Marshall McLuhan, mass immigration, medical bankruptcy, megacity, military-industrial complex, mortgage tax deduction, Netflix Prize, new economy, Nicholas Carr, ocean acidification, off-the-grid, oil shock, old-boy network, online collectivism, open borders, open economy, pattern recognition, peer-to-peer lending, personalized medicine, radical decentralization, Ray Kurzweil, RFID, ride hailing / ride sharing, Ronald Reagan, Rubik’s Cube, scientific mainstream, shareholder value, Silicon Valley, Skype, smart grid, smart meter, social graph, social web, software patent, Steve Jobs, synthetic biology, systems thinking, text mining, the long tail, the scientific method, The Wisdom of Crowds, transaction costs, transfer pricing, University of East Anglia, urban sprawl, value at risk, WikiLeaks, X Prize, Yochai Benkler, young professional, Zipcar

“We need a new paradigm,” said Gordon. “We can’t go on borrowing the same underlying assumptions and design traditions that underpin the industrial age model of power generation.” Naturally, the utility companies—who have little to gain from distributed generation—are not particularly enthralled with the Frasers’ arguments.19 Taken to its logical conclusion, distributed generation would unleash massive disruption and potentially make redundant a large part of what power utilities do today. Rather than selling power—a majority of which would be produced locally by homeowners and businesses—the core of the industry would shift to selling green energy installations and energy services like smart grid apps that help households and businesses save money.

Does Capitalism Have a Future? by Immanuel Wallerstein, Randall Collins, Michael Mann, Georgi Derluguian, Craig Calhoun, Stephen Hoye, Audible Studios

affirmative action, blood diamond, Bretton Woods, BRICs, British Empire, business cycle, butterfly effect, company town, creative destruction, deindustrialization, demographic transition, Deng Xiaoping, discovery of the americas, distributed generation, Dr. Strangelove, eurozone crisis, fiat currency, financial engineering, full employment, gentrification, Gini coefficient, global village, hydraulic fracturing, income inequality, Isaac Newton, job automation, joint-stock company, Joseph Schumpeter, junk bonds, land tenure, liberal capitalism, liquidationism / Banker’s doctrine / the Treasury view, loose coupling, low skilled workers, market bubble, market fundamentalism, mass immigration, means of production, mega-rich, Mikhail Gorbachev, military-industrial complex, mutually assured destruction, offshore financial centre, oil shale / tar sands, Ponzi scheme, postindustrial economy, reserve currency, Ronald Reagan, shareholder value, short selling, Silicon Valley, South Sea Bubble, sovereign wealth fund, Suez crisis 1956, too big to fail, transaction costs, vertical integration, Washington Consensus, WikiLeaks

Developing countries will likely struggle for a reformed and more egalitarian capitalism just as Westerners did in the first half of the 20th century. Some will be more successful than others, as was the case in the West. China faces the severest problems now. The benefits of its phenomenal growth are very unequally distributed, generating major protest movements. Revolutionary turbulence is certainly possible there, but if successful it would likely bring in more capitalism and perhaps an imperfect democracy, as happened in Russia. America also faces severe challenges since its economy is overloaded with military and health spending, its polity is corrupted and dysfunctional, and the ideology of its conservatives has turned against science and social science.

A World of Three Zeros: The New Economics of Zero Poverty, Zero Unemployment, and Zero Carbon Emissions by Muhammad Yunus

"Friedman doctrine" OR "shareholder theory", active measures, Bernie Sanders, biodiversity loss, Capital in the Twenty-First Century by Thomas Piketty, clean water, conceptual framework, crony capitalism, data science, distributed generation, Donald Trump, financial engineering, financial independence, fixed income, full employment, high net worth, income inequality, Indoor air pollution, Internet of things, invisible hand, Jeff Bezos, job automation, Lean Startup, Marc Benioff, Mark Zuckerberg, megacity, microcredit, new economy, Occupy movement, profit maximization, Silicon Valley, the market place, The Wealth of Nations by Adam Smith, too big to fail, Tragedy of the Commons, unbanked and underbanked, underbanked, urban sprawl, young professional

The poor women employed as members of the Grameen Marketing Network sell products that include mobile telephone handsets and accessories, solar panels and mini solar energy systems, chemically treated mosquito nets to reduce the incidence of malaria and other infectious diseases, and energy-efficient light fixtures and bulbs. With a market reach of over 1.5 million rural households, Grameen Distribution generates grassroots employment for many thousands of village women, increasing their family incomes by an average of US$37 per month. In a country where (for example) the minimum monthly wage in the huge garment industry is as low as US$68, that’s a significant boost to a family’s efforts to work their way out of poverty.8 One more social business example out of the many others I could name is the Grameen Caledonian College of Nursing, which opened its doors to students in March 2010.

Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages by Carlota Pérez

agricultural Revolution, Alan Greenspan, Big bang: deregulation of the City of London, Bob Noyce, Bretton Woods, business cycle, capital controls, commoditize, Corn Laws, creative destruction, David Ricardo: comparative advantage, deindustrialization, distributed generation, financial deregulation, financial innovation, Financial Instability Hypothesis, financial intermediation, Ford Model T, full employment, Hyman Minsky, informal economy, joint-stock company, Joseph Schumpeter, junk bonds, knowledge economy, late capitalism, market fundamentalism, military-industrial complex, new economy, nuclear winter, offshore financial centre, post-industrial society, profit motive, railway mania, Robert Shiller, Sand Hill Road, satellite internet, scientific management, Silicon Valley, Simon Kuznets, South Sea Bubble, Suez canal 1869, technological determinism, The Theory of the Leisure Class by Thorstein Veblen, Thomas Kuhn: the structure of scientific revolutions, Thorstein Veblen, trade route, tulip mania, Upton Sinclair, vertical integration, Washington Consensus

The other two structural tensions stem from the same basic cause: the whole frenzy phenomenon is, at bottom, a huge process of income redistribution in favor of those directly or indirectly involved in the casino, which funds the massive process of creative destruction in the economy. That regressive distribution generates a double vicious cycle: one is economic, expressed in the market; the other is social, expressed in political terms. Both get worse as the bubble increases. The economic vicious cycle sets in as the reversal of the virtuous cycle that created the casino prosperity. The concentration of income in the prosperous fringe of the population works wonderfully for providing a high investment rate, accompanied by a high dynamic demand for the early products of the revolution and many others that complement the new lifestyle.

Empirical Market Microstructure: The Institutions, Economics and Econometrics of Securities Trading by Joel Hasbrouck

Alvin Roth, barriers to entry, business cycle, conceptual framework, correlation coefficient, discrete time, disintermediation, distributed generation, experimental economics, financial intermediation, index arbitrage, information asymmetry, interest rate swap, inventory management, market clearing, market design, market friction, market microstructure, martingale, payment for order flow, power law, price discovery process, price discrimination, quantitative trading / quantitative finance, random walk, Richard Thaler, second-price auction, selection bias, short selling, statistical model, stochastic process, stochastic volatility, transaction costs, two-sided market, ultimatum game, zero-sum game

These findings, if correct, impose substantive restrictions on the sorts of models that can sensibly be estimated. Can safely we ignore this evidence? After all, why should one be concerned about convergence failures in infinite samples? The answer is that whatever one’s beliefs about the properties of the distribution generating the data, the existence of extreme values in finite samples is an irrefutable fact leading to many practical consequences. Sample estimates may be dominated by a few extreme values. Increasing sample size does not increase precision as fast we’d expect. Estimated parameters are sensitive to model specification.

How to Form Your Own California Corporation by Anthony Mancuso

book value, business cycle, corporate governance, corporate raider, distributed generation, estate planning, independent contractor, information retrieval, intangible asset, passive income, passive investing, Silicon Valley

Contributions and accumu­ lated earnings under such plans are not taxed until they are distributed to the employee. This is advan­tageous because employees generally will be in a lower tax bracket at retirement age, and the funds, while they are held in trust, can be invested and allowed to accumulate with no chapter 4 | corporate taxation | 89 tax due on investment income or gains prior to their distribution. Generally speaking, there are two basic types of pension plans: defined-contribution and defined-benefit plans (there are some hybrid types as well). A defined-contribution plan guarantees a specified yearly contribution of no more than 25% of an employee’s annual salary to each employee. A defined-benefit plan guarantees a specified benefit upon retirement, which can be as large as 100% of an employee’s annual pay during his or her highest-paid years.

Augmented: Life in the Smart Lane by Brett King

23andMe, 3D printing, additive manufacturing, Affordable Care Act / Obamacare, agricultural Revolution, Airbnb, Albert Einstein, Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, Apollo 11, Apollo Guidance Computer, Apple II, artificial general intelligence, asset allocation, augmented reality, autonomous vehicles, barriers to entry, bitcoin, Bletchley Park, blockchain, Boston Dynamics, business intelligence, business process, call centre, chief data officer, Chris Urmson, Clayton Christensen, clean water, Computing Machinery and Intelligence, congestion charging, CRISPR, crowdsourcing, cryptocurrency, data science, deep learning, DeepMind, deskilling, different worldview, disruptive innovation, distributed generation, distributed ledger, double helix, drone strike, electricity market, Elon Musk, Erik Brynjolfsson, Fellow of the Royal Society, fiat currency, financial exclusion, Flash crash, Flynn Effect, Ford Model T, future of work, gamification, Geoffrey Hinton, gig economy, gigafactory, Google Glasses, Google X / Alphabet X, Hans Lippershey, high-speed rail, Hyperloop, income inequality, industrial robot, information asymmetry, Internet of things, invention of movable type, invention of the printing press, invention of the telephone, invention of the wheel, James Dyson, Jeff Bezos, job automation, job-hopping, John Markoff, John von Neumann, Kevin Kelly, Kickstarter, Kim Stanley Robinson, Kiva Systems, Kodak vs Instagram, Leonard Kleinrock, lifelogging, low earth orbit, low skilled workers, Lyft, M-Pesa, Mark Zuckerberg, Marshall McLuhan, megacity, Metcalfe’s law, Minecraft, mobile money, money market fund, more computing power than Apollo, Neal Stephenson, Neil Armstrong, Network effects, new economy, Nick Bostrom, obamacare, Occupy movement, Oculus Rift, off grid, off-the-grid, packet switching, pattern recognition, peer-to-peer, Ray Kurzweil, retail therapy, RFID, ride hailing / ride sharing, Robert Metcalfe, Salesforce, Satoshi Nakamoto, Second Machine Age, selective serotonin reuptake inhibitor (SSRI), self-driving car, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, smart transportation, Snapchat, Snow Crash, social graph, software as a service, speech recognition, statistical model, stem cell, Stephen Hawking, Steve Jobs, Steve Wozniak, strong AI, synthetic biology, systems thinking, TaskRabbit, technological singularity, TED Talk, telemarketer, telepresence, telepresence robot, Tesla Model S, The future is already here, The Future of Employment, Tim Cook: Apple, trade route, Travis Kalanick, TSMC, Turing complete, Turing test, Twitter Arab Spring, uber lyft, undersea cable, urban sprawl, V2 rocket, warehouse automation, warehouse robotics, Watson beat the top human players on Jeopardy!, white picket fence, WikiLeaks, yottabyte

Ahmad Chatila, SunEdison’s CEO, says that improvements in RE storage are critical for smart energy management based on solar generation. “The most important technology we can develop right now is storage.” Ahmad Chatila, CEO of SunEdison Alternative smart energy systems might include: • distributed generation networks (resilient against terrorist attack and natural disasters) • fuel cell generation/storage systems • small module thorium reactors (shipping container-sized reactors that generate 300 megawatt hours (MWh), or enough for 45,000 homes on demand) • retooling skyscrapers and government buildings with transparent solar cells (otherwise known as PV window panes) • coastal cities with surge walls that also generate energy from tidal forces Smart Health Care As discussed in chapter 5, recent technology developments in mobile health monitoring systems, also called mHealth, incorporate wearable sensors and algorithms that will track a patient’s vital signs and condition.

Blood and Oil: Mohammed Bin Salman's Ruthless Quest for Global Power by Bradley Hope, Justin Scheck

"World Economic Forum" Davos, augmented reality, Ayatollah Khomeini, Boston Dynamics, clean water, coronavirus, distributed generation, Donald Trump, Downton Abbey, Elon Musk, Exxon Valdez, financial engineering, Google Earth, high net worth, Jeff Bezos, Marc Andreessen, Mark Zuckerberg, Masayoshi Son, megaproject, MITM: man-in-the-middle, new economy, NSO Group, Peter Thiel, public intellectual, ride hailing / ride sharing, Sand Hill Road, Silicon Valley, SoftBank, South of Market, San Francisco, sovereign wealth fund, starchitect, Steve Bannon, Steve Jobs, tech billionaire, Tim Cook: Apple, trade route, traumatic brain injury, Travis Kalanick, Uber for X, urban planning, Virgin Galactic, Vision Fund, WeWork, women in the workforce, young professional, zero day

Each had dozens of staff waiting to satisfy any princely whim. The problem was that Salman had spent, and not saved or invested, much of his share of oil profits, and he hadn’t started lucrative side businesses like other, more entrepreneurial princes. He didn’t control a license to sell Mercedes-Benz cars or distribute General Electric products—typical means princes used to grow their income. While Salman had achieved great political might, he had relatively little wealth by Al Saud standards. His close family had some investments in companies and real estate but lived what amounted to a lavish hand-to-mouth existence, dependent on payouts from the king and treasury.

Capital in the Twenty-First Century by Thomas Piketty

accounting loophole / creative accounting, Asian financial crisis, banking crisis, banks create money, Berlin Wall, book value, Branko Milanovic, British Empire, business cycle, capital controls, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, carbon tax, central bank independence, centre right, circulation of elites, collapse of Lehman Brothers, conceptual framework, corporate governance, correlation coefficient, David Ricardo: comparative advantage, demographic transition, distributed generation, diversification, diversified portfolio, European colonialism, eurozone crisis, Fall of the Berlin Wall, financial intermediation, full employment, Future Shock, German hyperinflation, Gini coefficient, Great Leap Forward, high net worth, Honoré de Balzac, immigration reform, income inequality, income per capita, index card, inflation targeting, informal economy, invention of the steam engine, invisible hand, joint-stock company, Joseph Schumpeter, Kenneth Arrow, low interest rates, market bubble, means of production, meritocracy, Money creation, mortgage debt, mortgage tax deduction, new economy, New Urbanism, offshore financial centre, open economy, Paul Samuelson, pension reform, power law, purchasing power parity, race to the bottom, randomized controlled trial, refrigerator car, regulatory arbitrage, rent control, rent-seeking, Robert Gordon, Robert Solow, Ronald Reagan, Simon Kuznets, sovereign wealth fund, Steve Jobs, Suez canal 1869, Suez crisis 1956, The Nature of the Firm, the payments system, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, trade liberalization, twin studies, very high income, Vilfredo Pareto, We are the 99%, zero-sum game

Two points need to be clarified at once. First, we find this regularity in all countries in all periods for which data are available, without exception, and the magnitude of the phenomenon is always quite striking. To give a preliminary idea of the order of magnitude in question, the upper 10 percent of the labor income distribution generally receives 25–30 percent of total labor income, whereas the top 10 percent of the capital income distribution always owns more than 50 percent of all wealth (and in some societies as much as 90 percent). Even more strikingly, perhaps, the bottom 50 percent of the wage distribution always receives a significant share of total labor income (generally between one-quarter and one-third, or approximately as much as the top 10 percent), whereas the bottom 50 percent of the wealth distribution owns nothing at all, or almost nothing (always less than 10 percent and generally less than 5 percent of total wealth, or one-tenth as much as the wealthiest 10 percent).

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Such a chaste approach is all the more regrettable in that it inevitably feeds the wildest fantasies and tends to discredit official statistics and statisticians rather than calm social tensions. Conversely, interdecile ratios are sometimes quite high for largely artificial reasons. Take the distribution of capital ownership, for example: the bottom 50 percent of the distribution generally own next to nothing. Depending on how small fortunes are measured—for example, whether or not durable goods and debts are counted—one can come up with apparently quite different evaluations of exactly where the tenth percentile of the wealth hierarchy lies: for the same underlying social reality, one might put it at 100 euros, 1,000 euros, or even 10,000 euros, which in the end isn’t all that different but can lead to very different interdecile ratios, depending on the country and the period, even though the bottom half of the wealth distribution owns less than 5 percent of total wealth.

Business Lessons From a Radical Industrialist by Ray C. Anderson

"Friedman doctrine" OR "shareholder theory", addicted to oil, Alan Greenspan, Albert Einstein, An Inconvenient Truth, banking crisis, Bear Stearns, biodiversity loss, business cycle, carbon credits, carbon footprint, carbon tax, centralized clearinghouse, clean tech, clean water, corporate social responsibility, Credit Default Swap, dematerialisation, distributed generation, do well by doing good, Easter island, energy security, Exxon Valdez, fear of failure, Gordon Gekko, greed is good, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), intermodal, invisible hand, junk bonds, late fees, Mahatma Gandhi, market bubble, music of the spheres, Negawatt, Neil Armstrong, new economy, off-the-grid, oil shale / tar sands, oil shock, old-boy network, peak oil, precautionary principle, renewable energy credits, retail therapy, shareholder value, Silicon Valley, six sigma, subprime mortgage crisis, supply-chain management, urban renewal, Y2K

The courses that many teach offer no sustainable solutions for the world their graduates will find. They are still part of the problem. Aspiring mechanical engineers still learn everything about internal combustion engines and not enough about fuel cells. Budding electrical engineers are still taught all about coal-fired central power plants, and not enough about distributed generating capacity from clean, renewable resources like the wind and the sun (or the local, methane-rich garbage dump!). Ceramics engineers still learn the traditional, abusive, heat-beat-treat methods that, quite literally, go back a thousand years or more. Meanwhile, they overlook the abalone’s natural nanostructural methods that use self-organized proteins and minerals dissolved in cold seawater to produce a ceramic product—mother-of-pearl nacre—that is superior to any man-made ceramic.

Nerds on Wall Street: Math, Machines and Wired Markets by David J. Leinweber

"World Economic Forum" Davos, AI winter, Alan Greenspan, algorithmic trading, AOL-Time Warner, Apollo 11, asset allocation, banking crisis, barriers to entry, Bear Stearns, Big bang: deregulation of the City of London, Bob Litterman, book value, business cycle, butter production in bangladesh, butterfly effect, buttonwood tree, buy and hold, buy low sell high, capital asset pricing model, Charles Babbage, citizen journalism, collateralized debt obligation, Cornelius Vanderbilt, corporate governance, Craig Reynolds: boids flock, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, Danny Hillis, demand response, disintermediation, distributed generation, diversification, diversified portfolio, electricity market, Emanuel Derman, en.wikipedia.org, experimental economics, fake news, financial engineering, financial innovation, fixed income, Ford Model T, Gordon Gekko, Hans Moravec, Herman Kahn, implied volatility, index arbitrage, index fund, information retrieval, intangible asset, Internet Archive, Ivan Sutherland, Jim Simons, John Bogle, John Nash: game theory, Kenneth Arrow, load shedding, Long Term Capital Management, machine readable, machine translation, Machine translation of "The spirit is willing, but the flesh is weak." to Russian and back, market fragmentation, market microstructure, Mars Rover, Metcalfe’s law, military-industrial complex, moral hazard, mutually assured destruction, Myron Scholes, natural language processing, negative equity, Network effects, optical character recognition, paper trading, passive investing, pez dispenser, phenotype, prediction markets, proprietary trading, quantitative hedge fund, quantitative trading / quantitative finance, QWERTY keyboard, RAND corporation, random walk, Ray Kurzweil, Reminiscences of a Stock Operator, Renaissance Technologies, risk free rate, risk tolerance, risk-adjusted returns, risk/return, Robert Metcalfe, Ronald Reagan, Rubik’s Cube, Savings and loan crisis, semantic web, Sharpe ratio, short selling, short squeeze, Silicon Valley, Small Order Execution System, smart grid, smart meter, social web, South Sea Bubble, statistical arbitrage, statistical model, Steve Jobs, Steven Levy, stock buybacks, Tacoma Narrows Bridge, the scientific method, The Wisdom of Crowds, time value of money, tontine, too big to fail, transaction costs, Turing machine, two and twenty, Upton Sinclair, value at risk, value engineering, Vernor Vinge, Wayback Machine, yield curve, Yogi Berra, your tax dollars at work

Source: GridPoint (www.gridpoint.com). 334 Nerds on Wall Str eet GridPoint explains how its simple blue box on the wall addresses all the key issues in our electricity future: The platform applies information technology to the electric grid to enable distributed energy resources to perform the same as central-station generation. During peak periods, utilities efficiently balance supply and demand by discharging stored power from distributed generation assets or reducing customers’ non-essential loads through demand response programs. Additionally, utilities effectively optimize baseload generation assets and relieve stress on transmission and distribution systems. The platform enables utilities to deploy proven technologies, (e.g., load control devices and advanced batteries) while creating a practical path for integrating new technologies (e.g., plug-in hybrid electric vehicles [PHEVs] and fuel cells).

Doing Data Science: Straight Talk From the Frontline by Cathy O'Neil, Rachel Schutt

Amazon Mechanical Turk, augmented reality, Augustin-Louis Cauchy, barriers to entry, Bayesian statistics, bike sharing, bioinformatics, computer vision, confounding variable, correlation does not imply causation, crowdsourcing, data science, distributed generation, Dunning–Kruger effect, Edward Snowden, Emanuel Derman, fault tolerance, Filter Bubble, finite state, Firefox, game design, Google Glasses, index card, information retrieval, iterative process, John Harrison: Longitude, Khan Academy, Kickstarter, machine translation, Mars Rover, Nate Silver, natural language processing, Netflix Prize, p-value, pattern recognition, performance metric, personalized medicine, pull request, recommendation engine, rent-seeking, selection bias, Silicon Valley, speech recognition, statistical model, stochastic process, tacit knowledge, text mining, the scientific method, The Wisdom of Crowds, Watson beat the top human players on Jeopardy!, X Prize

priors in, Adding Priors timestamped event data exercise, Exercise: GetGlue and Timestamped Event Data–Exercise: Financial Data financial models, Financial Modeling–A Baby Model causality and, In-Sample, Out-of-Sample, and Causality–In-Sample, Out-of-Sample, and Causality data preparation for, Preparing Financial Data–Preparing Financial Data exponential downweighting, Exponential Downweighting feedback loop, The Financial Modeling Feedback Loop–The Financial Modeling Feedback Loop in-sample data, In-Sample, Out-of-Sample, and Causality–In-Sample, Out-of-Sample, and Causality log returns and, Log Returns out-of-sample data, In-Sample, Out-of-Sample, and Causality–In-Sample, Out-of-Sample, and Causality S&P index example, Example: The S&P Index volatility measurements in, Working out a Volatility Measurement–Working out a Volatility Measurement finite differences, In practice Firebug extension, Scraping the Web: APIs and Other Tools Firefox, Scraping the Web: APIs and Other Tools Flickr, Scraping the Web: APIs and Other Tools FOIA requests, A Bit of History on Data Journalism Foreign Affairs (magazine), Datafication forward selection, Selecting an algorithm Fourier coefficients, Productionizing machine learning models fraud, data visualization and, The Risk Challenge–Detecting suspicious activity using machine learning detecting with machine learning, Detecting suspicious activity using machine learning–Detecting suspicious activity using machine learning performance estimation, The Trouble with Performance Estimation–Challenges in features and learning freeze rates, Data Visualization at Square Fruchterman-Reingold algorithm, Morningside Analytics functions, Fitting a model knn(), Choosing k likelihood, Estimating α and β loss, Adding in modeling assumptions about the errors penalty, A Baby Model fundamental problem of causal inference, The Rubin Causal Model G garbage in, garbage out scenarios, William Cukierski Gaussian distribution, Probability distributions Gaussian mixture model, Linear Regression Geller, Nancy, The Current Landscape (with a Little History) Gelman, Andrew, Modeling general functional form, Probability distributions generating data, The Life of a Chief Data Scientist generative processes, Machine Learning Algorithms geo-based location data, Populations and Samples of Big Data geographic information systems (GIS), What Is Data Science, Redux? geometric mean, Theorem: The resulting latent features will be uncorrelated GetGlue, Kyle Teague and GetGlue–Kyle Teague and GetGlue, Exercise: Build Your Own Recommendation System GetGlue exercise, Exercise: GetGlue and Timestamped Event Data–Exercise: Financial Data Giraph, Pregel GitHub, Back to Josh: Workflow Gmail, Why Won’t Linear Regression Work for Filtering Spam?

Chokepoint Capitalism by Rebecca Giblin, Cory Doctorow

Aaron Swartz, AltaVista, barriers to entry, Berlin Wall, Bernie Sanders, Big Tech, big-box store, Black Lives Matter, book value, collective bargaining, commoditize, coronavirus, corporate personhood, corporate raider, COVID-19, disintermediation, distributed generation, Fairchild Semiconductor, fake news, Filter Bubble, financial engineering, Firefox, forensic accounting, full employment, gender pay gap, George Akerlof, George Floyd, gig economy, Golden age of television, Google bus, greed is good, green new deal, high-speed rail, Hush-A-Phone, independent contractor, index fund, information asymmetry, Jeff Bezos, John Gruber, Kickstarter, laissez-faire capitalism, low interest rates, Lyft, Mark Zuckerberg, means of production, microplastics / micro fibres, Modern Monetary Theory, moral hazard, multi-sided market, Naomi Klein, Network effects, New Journalism, passive income, peak TV, Peter Thiel, precision agriculture, regulatory arbitrage, remote working, rent-seeking, ride hailing / ride sharing, Robert Bork, Saturday Night Live, shareholder value, sharing economy, Silicon Valley, SoftBank, sovereign wealth fund, Steve Jobs, Steven Levy, stock buybacks, surveillance capitalism, Susan Wojcicki, tech bro, tech worker, The Chicago School, The Wealth of Nations by Adam Smith, TikTok, time value of money, transaction costs, trickle-down economics, Turing complete, Uber and Lyft, uber lyft, union organizing, Vanguard fund, vertical integration, WeWork

It’s still unclear at what rate they plan to pay—the meager sales royalty rate adopted by Sony, Warner’s 25 percent, or the 50 percent licensing rate that most fairly reflects their risk and reward. But when the shares are sold, UMG artists will receive at least some money in their pockets. A 2019 Deutsche Bank report estimates that streaming is the most profitable form of music distribution, generating an 18 percent margin, compared to 13 percent on downloads and just 11 percent on physical. But as we’ve seen, those profits aren’t being evenly enjoyed. Daniel Glass, president and founder of Glassnote Records, says, “There’s very little middle- and lower-class in recording. That world has dried up.”

J.K. Lasser's Your Income Tax 2016: For Preparing Your 2015 Tax Return by J. K. Lasser Institute

accelerated depreciation, Affordable Care Act / Obamacare, airline deregulation, asset allocation, book value, business cycle, collective bargaining, distributed generation, employer provided health coverage, estate planning, Home mortgage interest deduction, independent contractor, intangible asset, medical malpractice, medical residency, mortgage debt, mortgage tax deduction, passive income, Ponzi scheme, profit motive, rent control, Right to Buy, transaction costs, urban renewal, zero-coupon bond

If the amortization payment were increased to $50,000, only $30,000 of the distribution would be tax free ($80,000 – $50,000). Real estate investment trusts (REITs). The tax treatment of real estate investment trusts resembles that of open-end mutual funds. Distributions generally are reported to the investors on Form 1099-DIV as dividend income. However, distributions generally do not qualify for the reduced tax rate on qualified dividends (4.1). A distribution qualifies for the reduced rate only to the extent it represents previously taxed undistributed income or qualifying dividends received by the REIT (from stock investments) that are passed through to the investors.

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If you want to change IRA investments in the 12-month period ending July 14, 2016, you can do so by authorizing a direct transfer between IRA trustees, as direct transfers are not limited. In addition, a conversion of a traditional IRA to a Roth IRA is not affected by the rollover limitation and can be made at any time; see above. Transition rule disregards certain 2014 distributions. Generally, the one-rollover-per-year limitation means that you will be taxed on an IRA distribution if you made an IRA-to-IRA rollover in the preceding 12 months. However, the IRS provided a transition rule that allows rollovers of certain 2014 distributions to be disregarded, thereby allowing rollover treatment for a 2015 distribution that otherwise would be prohibited by the limitation.

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The balance of qualifying expenses after subtracting tax-free educational assistance and credit-related expenses is the beneficiary’s adjusted qualified educational expenses. The Example below shows how the taxable portion of the distribution is determined when the total distribution exceeds the adjusted qualified education expenses. Additional tax on taxable distributions. Generally, a taxable distribution is subject to a 10% additional tax, which is figured on Form 5329. However, the 10% additional tax does not apply to distributions that are: (1) made to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary, (2) made because the designated beneficiary is disabled, (3) taxable because the designated beneficiary received a tax-free scholarship or educational assistance allowance that equals or exceeds the distribution, or (4) taxable only because the qualified ESA education expenses were reduced by expenses used in figuring an American Opportunity or Lifetime Learning credit.

The Future of Technology by Tom Standage

air freight, Alan Greenspan, barriers to entry, business process, business process outsourcing, call centre, Clayton Christensen, computer vision, connected car, corporate governance, creative destruction, disintermediation, disruptive innovation, distributed generation, double helix, experimental economics, financial engineering, Ford Model T, full employment, hydrogen economy, hype cycle, industrial robot, informal economy, information asymmetry, information security, interchangeable parts, job satisfaction, labour market flexibility, Larry Ellison, Marc Andreessen, Marc Benioff, market design, Menlo Park, millennium bug, moral hazard, natural language processing, Network effects, new economy, Nicholas Carr, optical character recognition, PalmPilot, railway mania, rent-seeking, RFID, Salesforce, seminal paper, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, six sigma, Skype, smart grid, software as a service, spectrum auction, speech recognition, stem cell, Steve Ballmer, Steve Jurvetson, technological determinism, technology bubble, telemarketer, transcontinental railway, vertical integration, Y2K

However, a complete return to that model would be folly, for it would rob both the grid and micropower plants of the chance to sell power when the other is in distress. Rather, the grid will be transformed into a digital network capable of handling complex, multi-directional flows of power. Micropower and megapower will then work together. abb foresees the emergence of “microgrids” made up of all sorts of distributed generators, including fuel cells (which combine hydrogen and oxygen to produce electricity cleanly), wind and solar power. The University of California at Irvine is developing one, as are some firms in Germany. “Virtual utilities” would then aggregate the micropower from various sources in real time – and sell it to the grid.

Statistics hacks by Bruce Frey

Bayesian statistics, Berlin Wall, correlation coefficient, Daniel Kahneman / Amos Tversky, distributed generation, en.wikipedia.org, feminist movement, G4S, game design, Hacker Ethic, index card, Linda problem, Milgram experiment, Monty Hall problem, p-value, place-making, reshoring, RFID, Search for Extraterrestrial Intelligence, SETI@home, Silicon Valley, statistical model, sugar pill, systematic bias, Thomas Bayes

Create Your Own Standardized Score For fun, you can create your own standardized score distribution with any mean and standard deviation you wish. Don't like your SAT score of 350? Transform it into a score within a distribution of your choosing. Imagine, for example, that you'd prefer a distribution with a mean of 752,365 and a standard deviation of 216,456 (and who wouldn't?). Let's call this distribution the Frey Score Distribution. Generalizing the T score formula, you could transform your SAT score of 350 into a Frey score. Remember, you have to start with the z score for an SAT score of 350: and then transform it into a Frey score: Now, doesn't a score of 427,681 sound better than a score of 350? Because you know the mean of the Frey distribution, the interpretation of both scores is the same; they are still below average, and they are still 11/2 standard deviations below the mean.

The Art of Computer Programming: Fundamental Algorithms by Donald E. Knuth

Charles Babbage, discrete time, distributed generation, Donald Knuth, fear of failure, Fermat's Last Theorem, G4S, Gerard Salton, Isaac Newton, Ivan Sutherland, Jacquard loom, Johannes Kepler, John von Neumann, linear programming, linked data, Menlo Park, probability theory / Blaise Pascal / Pierre de Fermat, sorting algorithm, stochastic process, Turing machine

[HM23] When the probability that some quantity has the value k is e~^(/j,k/k\), it is said to have the Poisson distribution with mean \x. a) What is the generating function for this set of probabilities? b) What are the values of the semi-invariants? c) Show that asn-^oo the Poisson distribution with mean np approaches the normal distribution in the sense of exercise 13. 16. [M25] Suppose X is a random variable whose values are a mixture of the proba- probability distributions generated by gi(z), 52B), ..., gr(z), in the sense that it uses gk{z) with probability pk, where pi + p2 + ¦ ¦ ¦ + pr — 1- What is the generating function for XI Express the mean and variance of X in terms of the means and variances of g\, ?2, ..., gr. > 17. [M27] Let f(z) and g(z) be generating functions that represent probability dis- distributions. a) Show that h(z) = g(f(z)) is also a generating function representing a probability distribution. b) Interpret the significance of h(z) in terms of f(z) and g(z).

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(a) Prove that Pr(X < nr) < {r^e7)", when 0 < r < 1; Pr(X > nr) < (r^e^Y. when r > 1. (b) Express the right-hand sides of these estimates in convenient form when r ~ 1. (c) Show that if r is sufficiently large we have Pr(X > /j,r) < 2~Mr. 23. [HM23] Estimate the tail probabilities for a random variable that has the negative binomial distribution generated by (q — pz)~n, where q = p + 1. *1.2.11. Asymptotic Representations We often want to know a quantity approximately, instead of exactly, in order to compare it to another. For example, Stirling's approximation to n! is a useful representation of this type, when n is large, and we have also made use of the fact that Hn w Inn + 7.

Red-Blooded Risk: The Secret History of Wall Street by Aaron Brown, Eric Kim

Abraham Wald, activist fund / activist shareholder / activist investor, Albert Einstein, algorithmic trading, Asian financial crisis, Atul Gawande, backtesting, Basel III, Bayesian statistics, Bear Stearns, beat the dealer, Benoit Mandelbrot, Bernie Madoff, Black Swan, book value, business cycle, capital asset pricing model, carbon tax, central bank independence, Checklist Manifesto, corporate governance, creative destruction, credit crunch, Credit Default Swap, currency risk, disintermediation, distributed generation, diversification, diversified portfolio, Edward Thorp, Emanuel Derman, Eugene Fama: efficient market hypothesis, experimental subject, fail fast, fear index, financial engineering, financial innovation, global macro, illegal immigration, implied volatility, independent contractor, index fund, John Bogle, junk bonds, Long Term Capital Management, loss aversion, low interest rates, managed futures, margin call, market clearing, market fundamentalism, market microstructure, Money creation, money market fund, money: store of value / unit of account / medium of exchange, moral hazard, Myron Scholes, natural language processing, open economy, Pierre-Simon Laplace, power law, pre–internet, proprietary trading, quantitative trading / quantitative finance, random walk, Richard Thaler, risk free rate, risk tolerance, risk-adjusted returns, risk/return, road to serfdom, Robert Shiller, shareholder value, Sharpe ratio, special drawing rights, statistical arbitrage, stochastic volatility, stock buybacks, stocks for the long run, tail risk, The Myth of the Rational Market, Thomas Bayes, too big to fail, transaction costs, value at risk, yield curve

People who think like me call ourselves data analysts, and we like nonparametric or distribution-free methods. We use a lot of rough tools, like jackknifes, bootstraps, cross-tabulations, and visualizations. We like to let the data speak to us instead of trying to fit it in a preconceived model, and we like simple methods that do not require strong assumptions about either the distribution generating the data or our prior knowledge. So on my own time, for my dissertation, I was trying a third approach to the conditional heteroskedasticity problem. A popular technique among data analysts is resampling. To predict the future, you string together randomly selected days from the past—with replacement, meaning you can pick the same past day more than once.

CTOs at Work by Scott Donaldson, Stanley Siegel, Gary Donaldson

Amazon Web Services, Andy Carvin, bioinformatics, business intelligence, business process, call centre, centre right, cloud computing, computer vision, connected car, crowdsourcing, data acquisition, distributed generation, do what you love, domain-specific language, functional programming, glass ceiling, Hacker News, hype cycle, Neil Armstrong, orbital mechanics / astrodynamics, pattern recognition, Pluto: dwarf planet, QR code, Richard Feynman, Ruby on Rails, Salesforce, shareholder value, Silicon Valley, Skype, smart grid, smart meter, software patent, systems thinking, thinkpad, web application, zero day, zero-sum game

So now I know that I've got 100 megawatts of storage in a given area. I've got 30 megawatts of thermal energy through ice that I froze that evening and it is ready to melt as needed so I don't have to use an air conditioning compressor. Then I've got a certain amount of distributed resources through distributed generation sources. That may be solar, it may be wind, it may be backup generation, and it may be some other form of biomass. Now … we can't control the sun. We can't control the wind—yet. But what we can do through tight coupling of the other resources is make a more predictable supply and demand curve, because the goal is predictability.

Commodity Trading Advisors: Risk, Performance Analysis, and Selection by Greg N. Gregoriou, Vassilios Karavas, François-Serge Lhabitant, Fabrice Douglas Rouah

Asian financial crisis, asset allocation, backtesting, buy and hold, capital asset pricing model, collateralized debt obligation, commodity trading advisor, compound rate of return, constrained optimization, corporate governance, correlation coefficient, Credit Default Swap, credit default swaps / collateralized debt obligations, currency risk, discrete time, distributed generation, diversification, diversified portfolio, dividend-yielding stocks, financial engineering, fixed income, global macro, high net worth, implied volatility, index arbitrage, index fund, interest rate swap, iterative process, linear programming, London Interbank Offered Rate, Long Term Capital Management, managed futures, market fundamentalism, merger arbitrage, Mexican peso crisis / tequila crisis, p-value, Pareto efficiency, Performance of Mutual Funds in the Period, Ponzi scheme, proprietary trading, quantitative trading / quantitative finance, random walk, risk free rate, risk-adjusted returns, risk/return, selection bias, Sharpe ratio, short selling, stochastic process, survivorship bias, systematic trading, tail risk, technology bubble, transaction costs, value at risk, zero-sum game

If managed futures can provide downside protection, we would expect the average monthly downside return to be smaller than that observed for our initial stock/bond portfolio. Once again, we build a blended portfolio of 55 percent U.S. stocks, 35 percent U.S. treasury bonds, and 10 percent CTA strategy. We then develop a frequency distribution of monthly returns over the period 1990 to 2000. In Table 11.3 we present the results from the return distribution generated by this CTA-blended portfolio for each CTA strategy. For example, for CTA agriculture, the average downside return is −1.81 percent. This is an improvement of 26 basis points over the average downside return observed with the stock/bond portfolio. The number of downside months with CTA agriculture managed futures added to the portfolio increased by one month to 43.

Inventors at Work: The Minds and Motivation Behind Modern Inventions by Brett Stern

Apple II, augmented reality, autonomous vehicles, bioinformatics, Build a better mousetrap, business process, cloud computing, computer vision, cyber-physical system, distributed generation, driverless car, game design, Grace Hopper, human-factors engineering, Richard Feynman, Silicon Valley, skunkworks, Skype, smart transportation, speech recognition, statistical model, stealth mode startup, Steve Jobs, Steve Wozniak, the market place, value engineering, Yogi Berra

Merfeld: I think the whole stationary grid space is exciting, underdeveloped, and in the early percolation stages of evolving. There’s a lot of excitement about this space, and I think it could be an opportunity like the hybridization of transportation to get better fuel economy. Applying that same concept around how we do power generation for electricity is going to be pretty exciting. Whether it’s distributed generation, whether it’s allowing the increased penetration of renewables, whether it changes in the way we actually think, whether it changes the models that we can use to envision how you make and sell electricity, I think energy storage has the promise to change that whole space. Stern: This technology is fairly macro.

The End of Alchemy: Money, Banking and the Future of the Global Economy by Mervyn King

Alan Greenspan, Andrei Shleifer, Asian financial crisis, asset-backed security, balance sheet recession, bank run, banking crisis, banks create money, behavioural economics, Berlin Wall, Bernie Madoff, Big bang: deregulation of the City of London, bitcoin, Black Monday: stock market crash in 1987, Black Swan, Boeing 747, Bretton Woods, British Empire, business cycle, capital controls, Carmen Reinhart, Cass Sunstein, central bank independence, centre right, classic study, collapse of Lehman Brothers, creative destruction, Credit Default Swap, crowdsourcing, Daniel Kahneman / Amos Tversky, David Ricardo: comparative advantage, distributed generation, Doha Development Round, Edmond Halley, Fall of the Berlin Wall, falling living standards, fiat currency, financial engineering, financial innovation, financial intermediation, floating exchange rates, foreign exchange controls, forward guidance, Fractional reserve banking, Francis Fukuyama: the end of history, full employment, German hyperinflation, Glass-Steagall Act, Great Leap Forward, Hyman Minsky, inflation targeting, invisible hand, Japanese asset price bubble, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Meriwether, joint-stock company, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, labour market flexibility, large denomination, lateral thinking, liquidity trap, Long Term Capital Management, low interest rates, manufacturing employment, market clearing, Martin Wolf, Mexican peso crisis / tequila crisis, Money creation, money market fund, money: store of value / unit of account / medium of exchange, moral hazard, Myron Scholes, Nick Leeson, no-fly zone, North Sea oil, Northern Rock, oil shale / tar sands, oil shock, open economy, paradox of thrift, Paul Samuelson, Ponzi scheme, price mechanism, price stability, proprietary trading, purchasing power parity, quantitative easing, rent-seeking, reserve currency, Richard Thaler, rising living standards, Robert Shiller, Robert Solow, Satoshi Nakamoto, savings glut, secular stagnation, seigniorage, stem cell, Steve Jobs, The Great Moderation, the payments system, The Rise and Fall of American Growth, Thomas Malthus, too big to fail, transaction costs, Tyler Cowen: Great Stagnation, yield curve, Yom Kippur War, zero-sum game

In addition, there is an active over-the-counter market in bilateral transactions. 8 Several theoretical papers have tried to express coordination failures in terms of an abstract game-theoretic description of an economy; for example, Cooper and John (1988) and, more recently, Angeletos et al. (2014). Such abstraction is not necessary to understand the coordination problem, even if its consequences are fundamental. 9 Krugman (2011). 10 Other path-breaking contributions were made by, among others, the American economists Tom Sargent and Neil Wallace. 11 Random shifts in the distributions generating shocks in a neoclassical model, termed ‘extrinsic uncertainty’ by Hendry and Mizon (2014), are similar to radical uncertainty. 12 Such models were described as ‘New Keynesian’ despite the fact that Keynes’s view of recessions did not depend on the slow adjustment of wages and prices to external shocks and that the essence of Keynes, namely radical uncertainty and the resulting prisoner’s dilemma, was absent from them. 13 They are sometimes described as ‘dynamic stochastic general equilibrium’ (DSGE) models, and have become the basis for much modern macroeconomics.

The Wizard of Menlo Park: How Thomas Alva Edison Invented the Modern World by Randall E. Stross

Albert Einstein, centralized clearinghouse, Charles Lindbergh, cotton gin, death of newspapers, distributed generation, East Village, Ford Model T, Ford paid five dollars a day, I think there is a world market for maybe five computers, interchangeable parts, Isaac Newton, Livingstone, I presume, Marshall McLuhan, Menlo Park, plutocrats, Saturday Night Live, side project, Silicon Valley, Steve Jobs, Steven Levy, urban renewal, vertical integration, world market for maybe five computers

Edison Electric’s backers, who had waited patiently for four years and were now eager to see a return on their investment, urged Edison to promote the product line that customers were most interested in, the on-site plants. Edison sought vindication of his belief that centralized power generation was superior to distributed generation, but he acknowledged that here, too, he needed help to make a success of the central-station business. He appointed his own personal secretary, twenty-three-year-old Samuel Insull, to take charge of the campaign. Insull had immigrated from England two years before to work for Edison, and his employer had come to view him as indispensable.

Mastering Private Equity by Zeisberger, Claudia,Prahl, Michael,White, Bowen, Michael Prahl, Bowen White

Alan Greenspan, asset allocation, backtesting, barriers to entry, Basel III, Bear Stearns, book value, business process, buy low sell high, capital controls, carbon credits, carried interest, clean tech, commoditize, corporate governance, corporate raider, correlation coefficient, creative destruction, currency risk, deal flow, discounted cash flows, disintermediation, disruptive innovation, distributed generation, diversification, diversified portfolio, family office, fixed income, high net worth, impact investing, information asymmetry, intangible asset, junk bonds, Lean Startup, low interest rates, market clearing, Michael Milken, passive investing, pattern recognition, performance metric, price mechanism, profit maximization, proprietary trading, risk tolerance, risk-adjusted returns, risk/return, Savings and loan crisis, shareholder value, Sharpe ratio, Silicon Valley, sovereign wealth fund, statistical arbitrage, time value of money, transaction costs, two and twenty

The bottom-up valuation method calculates the price of an LP secondary by discounting the projected future cash flows of the fund in question. The discount rate in this scenario is based on the gross return generated from fund cash flows that the secondary buyer expects to achieve. The cash flows include expected distributions from existing portfolio investments, drawdowns for future primary and follow-on investments, and distributions generated from these future investments. Cash flow expectations for existing portfolio companies are estimated by examining the stage of the investment, its expected growth rate and investment needs, and exit valuation expectations, among other metrics. Projecting drawdowns and returns for future investments is less straightforward: estimating the timing and size of cash flows can be based only on due diligence calls with fund managers and the GP’s past performance record.

The Men Who United the States: America's Explorers, Inventors, Eccentrics and Mavericks, and the Creation of One Nation, Indivisible by Simon Winchester

British Empire, Charles Lindbergh, clean water, colonial rule, company town, cotton gin, discovery of the americas, distributed generation, Donner party, estate planning, Etonian, Ford Model T, full employment, Hernando de Soto, hive mind, invention of radio, invention of the telegraph, James Watt: steam engine, Joi Ito, Khyber Pass, Menlo Park, off-the-grid, plutocrats, safety bicycle, transcontinental railway, Works Progress Administration

Imaginary houses, designed to look like those in lower Manhattan, were also staked out, and they were lighted, too, and this whole unreal New York City was connected to an array of batteries with feeder cables (which took the power to the streets), mains wires (which took it into the houses), and service wires (which went to the individual house lamps). Edison’s basic plan for electric distribution—generator, feeder, mains, service—remains today the standard model for all distribution everywhere. Once he threw the switches, his display burst into a frenzy of glitter. It immediately and mightily impressed the city’s Blue Book visitors. The Vanderbilts, prominent from their railroading fortune, were the first to back Edison’s efforts.

Beginning R: The Statistical Programming Language by Mark Gardener

correlation coefficient, distributed generation, natural language processing, New Urbanism, p-value, statistical model

You can use the command in two ways: you can see what the current settings are and you can also alter these settings. If you type the command without any instructions (that is, just a pair of parentheses) you see the current settings: > RNGkind() [1] "Mersenne-Twister" "Inversion" Two items are listed. The first is the standard number generator and the second is the one used for normal distribution generation. To alter these, use the kind = and normal.kind = instructions along with a text string giving the algorithm you require; this can be abbreviated. The following example alters the algorithms and then resets them: > RNGkind(kind = 'Super', normal.kind = 'Box') > RNGkind() [1] "Super-Duper" "Box-Muller" > RNGkind('default') > RNGkind() [1] "Mersenne-Twister" "Box-Muller" > RNGkind('default', 'default') > RNGkind() [1] "Mersenne-Twister" "Inversion" Here you first alter both kinds of algorithm.

The Future of the Internet: And How to Stop It by Jonathan Zittrain

A Declaration of the Independence of Cyberspace, algorithmic bias, Amazon Mechanical Turk, Andy Kessler, barriers to entry, behavioural economics, book scanning, Brewster Kahle, Burning Man, c2.com, call centre, Cass Sunstein, citizen journalism, Citizen Lab, Clayton Christensen, clean water, commoditize, commons-based peer production, corporate governance, Daniel Kahneman / Amos Tversky, digital divide, disruptive innovation, distributed generation, en.wikipedia.org, end-to-end encryption, Firefox, folksonomy, Free Software Foundation, game design, Hacker Ethic, Howard Rheingold, Hush-A-Phone, illegal immigration, index card, informal economy, information security, Internet Archive, jimmy wales, John Markoff, John Perry Barlow, license plate recognition, loose coupling, mail merge, Morris worm, national security letter, old-boy network, One Laptop per Child (OLPC), OSI model, packet switching, peer-to-peer, post-materialism, pre–internet, price discrimination, profit maximization, radical decentralization, Ralph Nader, RFC: Request For Comment, RFID, Richard Stallman, Richard Thaler, risk tolerance, Robert Bork, Robert X Cringely, SETI@home, Silicon Valley, Skype, slashdot, software patent, Steve Ballmer, Steve Jobs, Ted Nelson, Telecommunications Act of 1996, the Cathedral and the Bazaar, the long tail, The Nature of the Firm, The Wisdom of Crowds, Tragedy of the Commons, web application, wikimedia commons, Yochai Benkler, zero-sum game

• There must be a way for an individual to correct or amend a record of identifiable information about him. • Any organization creating, maintaining, using, or disseminating records of identifiable personal data must assure the reliability of the data for their intended use and must take precautions to prevent misuse of the data.101 These recommendations present a tall order for distributed, generative systems. It may seem clear that the existence of personal data record-keeping systems ought not to be kept secret, but this issue was easier to address in 1973, when such systems were typically large consumer credit databases or government dossiers about citizens, which could more readily be disclosed and advertised by the relevant parties.

From Counterculture to Cyberculture: Stewart Brand, the Whole Earth Network, and the Rise of Digital Utopianism by Fred Turner

"World Economic Forum" Davos, 1960s counterculture, A Declaration of the Independence of Cyberspace, Alan Greenspan, Alvin Toffler, Apple's 1984 Super Bowl advert, back-to-the-land, Bill Atkinson, bioinformatics, Biosphere 2, book value, Buckminster Fuller, business cycle, Californian Ideology, classic study, Claude Shannon: information theory, complexity theory, computer age, Computer Lib, conceptual framework, Danny Hillis, dematerialisation, distributed generation, Douglas Engelbart, Douglas Engelbart, Dr. Strangelove, Dynabook, Electric Kool-Aid Acid Test, Fairchild Semiconductor, Ford Model T, From Mathematics to the Technologies of Life and Death, future of work, Future Shock, game design, George Gilder, global village, Golden Gate Park, Hacker Conference 1984, Hacker Ethic, Haight Ashbury, Herbert Marcuse, Herman Kahn, hive mind, Howard Rheingold, informal economy, intentional community, invisible hand, Ivan Sutherland, Jaron Lanier, John Gilmore, John Markoff, John Perry Barlow, John von Neumann, Kevin Kelly, knowledge economy, knowledge worker, Lewis Mumford, market bubble, Marshall McLuhan, mass immigration, means of production, Menlo Park, military-industrial complex, Mitch Kapor, Mondo 2000, Mother of all demos, new economy, Norbert Wiener, peer-to-peer, post-industrial society, postindustrial economy, Productivity paradox, QWERTY keyboard, Ralph Waldo Emerson, RAND corporation, reality distortion field, Richard Stallman, Robert Shiller, Ronald Reagan, Shoshana Zuboff, Silicon Valley, Silicon Valley ideology, South of Market, San Francisco, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, systems thinking, technoutopianism, Ted Nelson, Telecommunications Act of 1996, The Hackers Conference, the strength of weak ties, theory of mind, urban renewal, Vannevar Bush, We are as Gods, Whole Earth Catalog, Whole Earth Review, Yom Kippur War

Even as the Free Speech Movement and the New Left explicitly confronted military, industrial, and academic institutions, the bohemian artists of cold war Manhattan and San Francisco, and later the hippies of Haight-Ashbury and the youthful back-to-the-landers, in fact embraced the technocentric optimism, the information theories, and the collaborative work style of the research world. Fully in keeping with the scientific ethos of the era, young members of the New Communalist wing of the counterculture, along with many in the New Left, imagined themselves as part of a massive, geographically distributed, generational experiment. The world was their laboratory; in it they could play both scientist and subject, exploring their minds and their bodies, their relationships to one another, and the nature of politics, commerce, community, and the state. Small-scale technologies would serve them in this work.

A World Beneath the Sands by Toby Wilkinson

Ada Lovelace, agricultural Revolution, battle of ideas, British Empire, Charles Babbage, colonial rule, conceptual framework, distributed generation, financial independence, invention of writing, New Journalism, public intellectual, Right to Buy, Suez canal 1869, trade route, traveling salesman

Moreover, despite the long-standing animosity between the agents of British and French consuls – one of Salt’s employees lived just down the hill from Wilkinson’s house, while an Italian working for Drovetti had a house nearby; the two men argued frequently over the precise boundaries of their adjoining concessions, and distributed generous bribes to local officials to advance their respective cases – Wilkinson remained neutral. He seems not to have been especially bothered by the removal of the Luxor obelisk to Paris. He happily left his workmen unsupervised, allowing them to steal artefacts and sell them to collectors; yet he took great pains in his own investigations not to damage the delicate reliefs inside the tomb of Seti I.

J.K. Lasser's Your Income Tax by J K Lasser Institute

accelerated depreciation, Affordable Care Act / Obamacare, airline deregulation, asset allocation, book value, business cycle, collective bargaining, distributed generation, employer provided health coverage, estate planning, Home mortgage interest deduction, independent contractor, intangible asset, medical malpractice, medical residency, money market fund, mortgage debt, mortgage tax deduction, passive income, Ponzi scheme, profit motive, rent control, Right to Buy, telemarketer, transaction costs, urban renewal, zero-coupon bond

If the amortization payment were increased to $50,000, only $30,000 of the distribution would be tax free ($80,000 − $50,000). Real estate investment trusts (REITs). The tax treatment of real estate investment trusts resembles that of open-end mutual funds. Distributions generally are reported to the investors on Form 1099-DIV as dividend income. However, distributions generally do not qualify for the reduced tax rate on qualified dividends (4.1). A distribution qualifies for the reduced rate only to the extent it represents previously taxed undistributed income or qualifying dividends received by the REIT (from stock investments) that are passed through to the investors.

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The balance of qualifying expenses after subtracting tax-free educational assistance and credit-related expenses is the beneficiary’s adjusted qualified educational expenses. The Example below shows how the taxable portion of the distribution is determined when the total distribution exceeds the adjusted qualified education expenses. Additional tax on taxable distributions. Generally, a taxable distribution is subject to a 10% additional tax, which is figured on Form 5329. However, the 10% additional tax does not apply to distributions that are: (1) made to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary, (2) made because the designated beneficiary is disabled, (3) taxable because the designated beneficiary received a tax-free scholarship or educational assistance allowance that equals or exceeds the distribution, or (4) taxable only because the qualified ESA education expenses were reduced by expenses used in figuring an American Opportunity or Lifetime Learning credit.

J.K. Lasser's Your Income Tax 2014 by J. K. Lasser

accelerated depreciation, Affordable Care Act / Obamacare, airline deregulation, asset allocation, book value, business cycle, collective bargaining, distributed generation, employer provided health coverage, estate planning, Home mortgage interest deduction, independent contractor, intangible asset, medical malpractice, medical residency, mortgage debt, mortgage tax deduction, obamacare, passive income, Ponzi scheme, profit motive, rent control, Right to Buy, telemarketer, transaction costs, urban renewal, zero-coupon bond

If the amortization payment were increased to $50,000, only $30,000 of the distribution would be tax free ($80,000 – $50,000). Real estate investment trusts (REITs) The tax treatment of real estate investment trusts resembles that of open-end mutual funds. Distributions generally are reported to the investors on Form 1099-DIV as dividend income. However, distributions generally do not qualify for the reduced tax rate on qualified dividends (4.1). A distribution qualifies for the reduced rate only to the extent it represents previously taxed undistributed income or qualifying dividends received by the REIT (from stock investments) that are passed through to the investors.

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The balance of qualifying expenses after subtracting tax-free educational assistance and credit-related expenses is the beneficiary’s adjusted qualified educational expenses. The Example below shows how the taxable portion of the distribution is determined when the total distribution exceeds the adjusted qualified education expenses. Additional tax on taxable distributions Generally, a taxable distribution is subject to a 10% additional tax, which is figured on Form 5329. However, the 10% additional tax does not apply to distributions that are: (1) made to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary, (2) made because the designated beneficiary is disabled, (3) taxable because the designated beneficiary received a tax-free scholarship or educational assistance allowance that equals or exceeds the distribution, or (4) taxable only because the qualified ESA education expenses were reduced by expenses used in figuring an American Opportunity or Lifetime Learning credit.

Trade Your Way to Financial Freedom by van K. Tharp

asset allocation, backtesting, book value, Bretton Woods, buy and hold, buy the rumour, sell the news, capital asset pricing model, commodity trading advisor, compound rate of return, computer age, distributed generation, diversification, dogs of the Dow, Elliott wave, high net worth, index fund, locking in a profit, margin call, market fundamentalism, Market Wizards by Jack D. Schwager, passive income, prediction markets, price stability, proprietary trading, random walk, Reminiscences of a Stock Operator, reserve currency, risk tolerance, Ronald Reagan, Savings and loan crisis, Sharpe ratio, short selling, Tax Reform Act of 1986, transaction costs

equity curve The value of your account over time, illustrated in a graph. exit That part of your trading system that tells you how or when to exit the market. expectancy How much you can expect to make on the average over many trades. Expectancy is best stated in terms of how much you can make per dollar you risk. Expectancy is the mean R of an R-multiple distribution generated by a trading system. expectunity A term used in this book to express expectancy multiplied by opportunity. For example, a trading system that has an expectancy of 0.6R and produces 100 trades per year will have an expectunity of 60R. false positive Something that gives a prediction that then fails to happen.

The Debian Administrator's Handbook, Debian Wheezy From Discovery to Mastery by Raphaal Hertzog, Roland Mas

bash_history, Debian, distributed generation, do-ocracy, en.wikipedia.org, end-to-end encryption, failed state, Firefox, Free Software Foundation, GnuPG, Google Chrome, Jono Bacon, MITM: man-in-the-middle, Neal Stephenson, NP-complete, precautionary principle, QWERTY keyboard, RFC: Request For Comment, Richard Stallman, Skype, SpamAssassin, SQL injection, Valgrind, web application, zero day, Zimmermann PGP

The extract below uses the wheezy-proposed-updates alias which is both more explicit and more consistent since squeeze-proposed-updates also exists (for the Oldstable updates): deb http://ftp.debian.org/debian wheezy-proposed-updates main contrib non-free 6.1.2.4. Stable Backports The stable-backports repository hosts “package backports”. The term refers to a package of some recent software which has been recompiled for an older distribution, generally for Stable. When the distribution becomes a little dated, numerous software projects have released new versions that are not integrated into the current Stable (which is only modified to address the most critical problems, such as security problems). Since the Testing and Unstable distributions can be more risky, package maintainers sometimes offer recompilations of recent software applications for Stable, which has the advantage to limit potential instability to a small number of chosen packages

Imagining India by Nandan Nilekani

"World Economic Forum" Davos, addicted to oil, affirmative action, Airbus A320, BRICs, British Empire, business process, business process outsourcing, call centre, carbon credits, carbon tax, clean water, colonial rule, corporate governance, cuban missile crisis, deindustrialization, demographic dividend, demographic transition, Deng Xiaoping, digital map, distributed generation, electricity market, farmers can use mobile phones to check market prices, flag carrier, full employment, ghettoisation, glass ceiling, global supply chain, Hernando de Soto, income inequality, informal economy, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), joint-stock company, knowledge economy, land reform, light touch regulation, LNG terminal, load shedding, low cost airline, Mahatma Gandhi, market fragmentation, mass immigration, Mikhail Gorbachev, Network effects, new economy, New Urbanism, open economy, Parag Khanna, pension reform, Potemkin village, price mechanism, public intellectual, race to the bottom, rent control, rolodex, Ronald Reagan, school vouchers, Silicon Valley, smart grid, special economic zone, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, Tragedy of the Commons, transaction costs, trickle-down economics, unemployed young men, upwardly mobile, urban planning, urban renewal, women in the workforce, working poor, working-age population

His DC “micropower” systems failed because the technology was unreliable and expensive. Edison had to watch a couple of his DC plants literally go up in flames before he gave up on the idea. dk I have chaired two committees on IT in the power sector, and the second one recommended having such “Smart Grids” that can deal with distributed generation and multiple renewable sources.

Piracy : The Intellectual Property Wars from Gutenberg to Gates by Adrian Johns

active measures, Alan Greenspan, banking crisis, Berlin Wall, British Empire, Buckminster Fuller, business intelligence, Charles Babbage, commoditize, Computer Lib, Corn Laws, demand response, distributed generation, Douglas Engelbart, Douglas Engelbart, Edmond Halley, Ernest Rutherford, Fellow of the Royal Society, full employment, Hacker Ethic, Howard Rheingold, industrial research laboratory, informal economy, invention of the printing press, Isaac Newton, James Watt: steam engine, John Harrison: Longitude, Lewis Mumford, Marshall McLuhan, Mont Pelerin Society, new economy, New Journalism, Norbert Wiener, pirate software, radical decentralization, Republic of Letters, Richard Stallman, road to serfdom, Ronald Coase, software patent, South Sea Bubble, Steven Levy, Stewart Brand, tacit knowledge, Ted Nelson, The Home Computer Revolution, the scientific method, traveling salesman, vertical integration, Whole Earth Catalog

In Cardiff, for example, he was accused of trespassing, which led to an open debate in court about whether a stall was “as sacred as an Englishman’s private house.” “That one spot is,” it was affirmed. People with real addresses – shopkeepers, coffeehouse men, publicans, and so on – were an altogether more serious matter. Their fixed premises meant they could often act as local centers of distribution. Generally, hawkers would be supplied from some such house, pub, or other outlet, with the actual warehouse being a small distance away down a back street. Two examples stand out as notable. One was the Manchester shop of a young man called by the press “Himie Cohen,” where Preston found thirty hawkers collecting piracies to sell (some of them escaped out of a window).

J.K. Lasser's Your Income Tax 2022: For Preparing Your 2021 Tax Return by J. K. Lasser Institute

accelerated depreciation, Affordable Care Act / Obamacare, airline deregulation, anti-communist, asset allocation, bike sharing, bitcoin, business cycle, call centre, carried interest, collective bargaining, coronavirus, COVID-19, cryptocurrency, distributed generation, distributed ledger, diversification, employer provided health coverage, estate planning, Home mortgage interest deduction, independent contractor, intangible asset, medical malpractice, medical residency, mortgage debt, mortgage tax deduction, passive income, Ponzi scheme, profit motive, rent control, ride hailing / ride sharing, Right to Buy, sharing economy, TaskRabbit, Tax Reform Act of 1986, transaction costs, zero-coupon bond

If the amortization payment were increased to $50,000, only $30,000 of the distribution would be tax free ($80,000 – $50,000). Real estate investment trusts (REITs). The tax treatment of real estate investment trusts resembles that of open-end mutual funds. Distributions generally are reported to the investors on Form 1099-DIV as dividend income. However, distributions generally do not qualify for the reduced tax rate on qualified dividends (4.2) but may be eligible for the qualified business income (QBI) deduction (31.16). A distribution qualifies for the reduced rate (but not the QBI deduction) only to the extent it represents previously taxed undistributed income or qualifying dividends received by the REIT (from stock investments) that are passed through to the investors.

…

The balance of qualifying expenses after subtracting tax-free educational assistance and credit-related expenses is the beneficiary’s AQEE. The Example below shows how the taxable portion of the distribution is determined when the total distribution exceeds the AQEE. Additional tax on taxable distributions. Generally, a taxable distribution is subject to a 10% additional tax, which is figured on Form 5329. However, the 10% additional tax does not apply to distributions that are: (1) made to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary, (2) made because the designated beneficiary is disabled, (3) taxable because the designated beneficiary received a tax-free scholarship or educational assistance allowance that equals or exceeds the distribution, or (4) taxable only because the qualified ESA education expenses were reduced by expenses used in figuring an American opportunity or lifetime learning credit.

The Taste of War: World War Two and the Battle for Food by Lizzie Collingham

agricultural Revolution, air gap, American ideology, Bletchley Park, British Empire, centre right, clean water, colonial exploitation, distributed generation, European colonialism, fixed income, full employment, global village, guns versus butter model, indoor plumbing, labour mobility, land reform, mass immigration, means of production, profit motive, rising living standards, trade route, V2 rocket, women in the workforce

In Essen bread and potatoes made up 90 per cent of what most people ate and the industrial towns were once more hard hit by an unsatisfactory potato harvest in the summer.170 The Ministry of Food began to make plans to distribute swedes and turnips, and Italian rice and lentils were brought in to eke out the supplies of staple foods.171 The basic meat and fat ration had to be cut yet again in May.172 Even though military rations were cut by 20 per cent, the army was too large a burden on the system. All this was exacerbated by the 7 million foreign workers in the Reich and the fact that local officials began to distribute generous rations to the homeless in the bombed-out cities.173 In the spring of 1943 Sybil Bannister, an Englishwoman married to a German gynaecologist, discovered how serious the food situation in the towns was in comparison with the comparatively plentiful food supply in the countryside. Sybil spent the first years of the war living in Bromberg, a town in the annexed part of Poland.

The Empathic Civilization: The Race to Global Consciousness in a World in Crisis by Jeremy Rifkin

Abraham Maslow, agricultural Revolution, Albert Einstein, animal electricity, back-to-the-land, British Empire, carbon footprint, classic study, collaborative economy, death of newspapers, delayed gratification, distributed generation, emotional labour, en.wikipedia.org, energy security, feminist movement, Ford Model T, global village, Great Leap Forward, hedonic treadmill, hydrogen economy, illegal immigration, income inequality, income per capita, interchangeable parts, Intergovernmental Panel on Climate Change (IPCC), Internet Archive, invention of movable type, invention of the steam engine, invisible hand, Isaac Newton, James Watt: steam engine, Johann Wolfgang von Goethe, Lewis Mumford, Mahatma Gandhi, Marshall McLuhan, means of production, megacity, meta-analysis, Milgram experiment, mirror neurons, Nelson Mandela, new economy, New Urbanism, Norbert Wiener, off grid, off-the-grid, out of africa, Peace of Westphalia, peak oil, peer-to-peer, planetary scale, Recombinant DNA, scientific management, scientific worldview, Simon Kuznets, Skype, smart grid, smart meter, social intelligence, supply-chain management, surplus humans, systems thinking, the medium is the message, the scientific method, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, Tragedy of the Commons, transaction costs, upwardly mobile, uranium enrichment, working poor, World Values Survey

The smart intergrid will not only give end users more power over their energy choices, but it also creates new energy efficiencies in the distribution of electricity. The intergrid makes possible a broad redistribution of power. Today’s centralized, top-down flow of energy becomes increasingly obsolete. In the new era, businesses, municipalities, and homeowners become the producers as well as the consumers of their own energy—what is referred to as “distributed generation.” The distributed smart grid also provides the essential infrastructure for making the transition from the oil-powered internal combustion engine to electric and hydrogen fuel-cell plug-in vehicles. Electric plug-in and hydrogen-powered fuel-cell vehicles are also “power stations on wheels” with a generating capacity of twenty or more kilowatts.

Global Catastrophic Risks by Nick Bostrom, Milan M. Cirkovic

affirmative action, agricultural Revolution, Albert Einstein, American Society of Civil Engineers: Report Card, anthropic principle, artificial general intelligence, Asilomar, availability heuristic, backpropagation, behavioural economics, Bill Joy: nanobots, Black Swan, carbon tax, carbon-based life, Charles Babbage, classic study, cognitive bias, complexity theory, computer age, coronavirus, corporate governance, cosmic microwave background, cosmological constant, cosmological principle, cuban missile crisis, dark matter, death of newspapers, demographic transition, Deng Xiaoping, distributed generation, Doomsday Clock, Drosophila, endogenous growth, Ernest Rutherford, failed state, false flag, feminist movement, framing effect, friendly AI, Georg Cantor, global pandemic, global village, Great Leap Forward, Gödel, Escher, Bach, Hans Moravec, heat death of the universe, hindsight bias, information security, Intergovernmental Panel on Climate Change (IPCC), invention of agriculture, Kevin Kelly, Kuiper Belt, Large Hadron Collider, launch on warning, Law of Accelerating Returns, life extension, means of production, meta-analysis, Mikhail Gorbachev, millennium bug, mutually assured destruction, Nick Bostrom, nuclear winter, ocean acidification, off-the-grid, Oklahoma City bombing, P = NP, peak oil, phenotype, planetary scale, Ponzi scheme, power law, precautionary principle, prediction markets, RAND corporation, Ray Kurzweil, Recombinant DNA, reversible computing, Richard Feynman, Ronald Reagan, scientific worldview, Singularitarianism, social intelligence, South China Sea, strong AI, superintelligent machines, supervolcano, synthetic biology, technological singularity, technoutopianism, The Coming Technological Singularity, the long tail, The Turner Diaries, Tunguska event, twin studies, Tyler Cowen, uranium enrichment, Vernor Vinge, War on Poverty, Westphalian system, Y2K

But if it happened quickly, large numbers ofpeople might find themselves economically superfluous. This would tend to facilitate their oppression as well as reducing their motivation to produce and innovate. In an extreme scenario, the resulting loss of human potential might be considered catastrophic. Another potential problem raised by distributed general-purpose manu­ facturing is a variety of new forms of crime. Even something as simple as a portable diamond saw capable of quickly cutting through concrete could facilitate breaking and entering. Medical devices might be used for illegal psychoactive purposes. Sensors could be used to violate privacy or gather passwords or other information.

Enlightenment Now: The Case for Reason, Science, Humanism, and Progress by Steven Pinker

3D printing, Abraham Maslow, access to a mobile phone, affirmative action, Affordable Care Act / Obamacare, agricultural Revolution, Albert Einstein, Alfred Russel Wallace, Alignment Problem, An Inconvenient Truth, anti-communist, Anton Chekhov, Arthur Eddington, artificial general intelligence, availability heuristic, Ayatollah Khomeini, basic income, Berlin Wall, Bernie Sanders, biodiversity loss, Black Swan, Bonfire of the Vanities, Brexit referendum, business cycle, capital controls, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, carbon tax, Charlie Hebdo massacre, classic study, clean water, clockwork universe, cognitive bias, cognitive dissonance, Columbine, conceptual framework, confounding variable, correlation does not imply causation, creative destruction, CRISPR, crowdsourcing, cuban missile crisis, Daniel Kahneman / Amos Tversky, dark matter, data science, decarbonisation, degrowth, deindustrialization, dematerialisation, demographic transition, Deng Xiaoping, distributed generation, diversified portfolio, Donald Trump, Doomsday Clock, double helix, Eddington experiment, Edward Jenner, effective altruism, Elon Musk, en.wikipedia.org, end world poverty, endogenous growth, energy transition, European colonialism, experimental subject, Exxon Valdez, facts on the ground, fake news, Fall of the Berlin Wall, first-past-the-post, Flynn Effect, food miles, Francis Fukuyama: the end of history, frictionless, frictionless market, Garrett Hardin, germ theory of disease, Gini coefficient, Great Leap Forward, Hacker Conference 1984, Hans Rosling, hedonic treadmill, helicopter parent, Herbert Marcuse, Herman Kahn, Hobbesian trap, humanitarian revolution, Ignaz Semmelweis: hand washing, income inequality, income per capita, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), invention of writing, Jaron Lanier, Joan Didion, job automation, Johannes Kepler, John Snow's cholera map, Kevin Kelly, Khan Academy, knowledge economy, l'esprit de l'escalier, Laplace demon, launch on warning, life extension, long peace, longitudinal study, Louis Pasteur, Mahbub ul Haq, Martin Wolf, mass incarceration, meta-analysis, Michael Shellenberger, microaggression, Mikhail Gorbachev, minimum wage unemployment, moral hazard, mutually assured destruction, Naomi Klein, Nate Silver, Nathan Meyer Rothschild: antibiotics, negative emissions, Nelson Mandela, New Journalism, Norman Mailer, nuclear taboo, nuclear winter, obamacare, ocean acidification, Oklahoma City bombing, open economy, opioid epidemic / opioid crisis, paperclip maximiser, Paris climate accords, Paul Graham, peak oil, Peter Singer: altruism, Peter Thiel, post-truth, power law, precautionary principle, precision agriculture, prediction markets, public intellectual, purchasing power parity, radical life extension, Ralph Nader, randomized controlled trial, Ray Kurzweil, rent control, Republic of Letters, Richard Feynman, road to serfdom, Robert Gordon, Rodney Brooks, rolodex, Ronald Reagan, Rory Sutherland, Saturday Night Live, science of happiness, Scientific racism, Second Machine Age, secular stagnation, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Simon Kuznets, Skype, smart grid, Social Justice Warrior, sovereign wealth fund, sparse data, stem cell, Stephen Hawking, Steve Bannon, Steven Pinker, Stewart Brand, Stuxnet, supervolcano, synthetic biology, tech billionaire, technological determinism, technological singularity, Ted Kaczynski, Ted Nordhaus, TED Talk, The Rise and Fall of American Growth, the scientific method, The Signal and the Noise by Nate Silver, The Spirit Level, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thomas Kuhn: the structure of scientific revolutions, Thomas Malthus, total factor productivity, Tragedy of the Commons, union organizing, universal basic income, University of East Anglia, Unsafe at Any Speed, Upton Sinclair, uranium enrichment, urban renewal, W. E. B. Du Bois, War on Poverty, We wanted flying cars, instead we got 140 characters, women in the workforce, working poor, World Values Survey, Y2K

This includes mathematical analyses in which scientists plot the distribution of events in the past (like wars or cyberattacks) and show they fall into a power-law distribution, one with “fat” or “thick” tails, in which extreme events are highly improbable but not astronomically improbable.7 The math is of little help in calibrating the risk, because the scattershot data along the tail of the distribution generally misbehave, deviating from a smooth curve and making estimation impossible. All we know is that very bad things can happen. That takes us back to subjective readouts, which tend to be inflated by the Availability and Negativity biases and by the gravitas market (chapter 4).8 Those who sow fear about a dreadful prophecy may be seen as serious and responsible, while those who are measured are seen as complacent and naïve.

The Stack: On Software and Sovereignty by Benjamin H. Bratton

1960s counterculture, 3D printing, 4chan, Ada Lovelace, Adam Curtis, additive manufacturing, airport security, Alan Turing: On Computable Numbers, with an Application to the Entscheidungsproblem, algorithmic trading, Amazon Mechanical Turk, Amazon Robotics, Amazon Web Services, Andy Rubin, Anthropocene, augmented reality, autonomous vehicles, basic income, Benevolent Dictator For Life (BDFL), Berlin Wall, bioinformatics, Biosphere 2, bitcoin, blockchain, Buckminster Fuller, Burning Man, call centre, capitalist realism, carbon credits, carbon footprint, carbon tax, carbon-based life, Cass Sunstein, Celebration, Florida, Charles Babbage, charter city, clean water, cloud computing, company town, congestion pricing, connected car, Conway's law, corporate governance, crowdsourcing, cryptocurrency, dark matter, David Graeber, deglobalization, dematerialisation, digital capitalism, digital divide, disintermediation, distributed generation, don't be evil, Douglas Engelbart, Douglas Engelbart, driverless car, Edward Snowden, Elon Musk, en.wikipedia.org, Eratosthenes, Ethereum, ethereum blockchain, Evgeny Morozov, facts on the ground, Flash crash, Frank Gehry, Frederick Winslow Taylor, fulfillment center, functional programming, future of work, Georg Cantor, gig economy, global supply chain, Google Earth, Google Glasses, Guggenheim Bilbao, High speed trading, high-speed rail, Hyperloop, Ian Bogost, illegal immigration, industrial robot, information retrieval, Intergovernmental Panel on Climate Change (IPCC), intermodal, Internet of things, invisible hand, Jacob Appelbaum, James Bridle, Jaron Lanier, Joan Didion, John Markoff, John Perry Barlow, Joi Ito, Jony Ive, Julian Assange, Khan Academy, Kim Stanley Robinson, Kiva Systems, Laura Poitras, liberal capitalism, lifelogging, linked data, lolcat, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, Masdar, McMansion, means of production, megacity, megaproject, megastructure, Menlo Park, Minecraft, MITM: man-in-the-middle, Monroe Doctrine, Neal Stephenson, Network effects, new economy, Nick Bostrom, ocean acidification, off-the-grid, offshore financial centre, oil shale / tar sands, Oklahoma City bombing, OSI model, packet switching, PageRank, pattern recognition, peak oil, peer-to-peer, performance metric, personalized medicine, Peter Eisenman, Peter Thiel, phenotype, Philip Mirowski, Pierre-Simon Laplace, place-making, planetary scale, pneumatic tube, post-Fordism, precautionary principle, RAND corporation, recommendation engine, reserve currency, rewilding, RFID, Robert Bork, Sand Hill Road, scientific management, self-driving car, semantic web, sharing economy, Silicon Valley, Silicon Valley ideology, skeuomorphism, Slavoj Žižek, smart cities, smart grid, smart meter, Snow Crash, social graph, software studies, South China Sea, sovereign wealth fund, special economic zone, spectrum auction, Startup school, statistical arbitrage, Steve Jobs, Steven Levy, Stewart Brand, Stuxnet, Superbowl ad, supply-chain management, supply-chain management software, synthetic biology, TaskRabbit, technological determinism, TED Talk, the built environment, The Chicago School, the long tail, the scientific method, Torches of Freedom, transaction costs, Turing complete, Turing machine, Turing test, undersea cable, universal basic income, urban planning, Vernor Vinge, vertical integration, warehouse automation, warehouse robotics, Washington Consensus, web application, Westphalian system, WikiLeaks, working poor, Y Combinator, yottabyte

Berardi, Neuro Totalitarianism (Los Angeles: Semiotext(e), 2014). 28.  Logistics here refers to both the expert mobilization of things, but also the aestheticized image of mobility in action. For the latter, logistics is a technical imaginary for the world in choreographic motion, an image that in turn becomes a technique for organizing the world as a distributed, generalized complex of distributed, integrated interfaces. 29.  A possible methodological framework: Interface design is less about the design of a thing than of a condition of transference (that could become a thing) and can take at least three main forms. First-order interface design produces the conditions of interassemblage between people, things, or places—making it good, smart, fast, flexible, sustainable, and so on.

Data Mining: Concepts and Techniques: Concepts and Techniques by Jiawei Han, Micheline Kamber, Jian Pei

backpropagation, bioinformatics, business intelligence, business process, Claude Shannon: information theory, cloud computing, computer vision, correlation coefficient, cyber-physical system, database schema, discrete time, disinformation, distributed generation, finite state, industrial research laboratory, information retrieval, information security, iterative process, knowledge worker, linked data, machine readable, natural language processing, Netflix Prize, Occam's razor, pattern recognition, performance metric, phenotype, power law, random walk, recommendation engine, RFID, search costs, semantic web, seminal paper, sentiment analysis, sparse data, speech recognition, statistical model, stochastic process, supply-chain management, text mining, thinkpad, Thomas Bayes, web application

Heuristically, we can add constraints on the distribution that is generating outliers. For example, it is reasonable to assume that this distribution has a larger variance if the outliers are distributed in a larger area. Technically, we can assign , where k is a user-specified parameter and σ is the standard deviation of the normal distribution generating the normal data. Again, the EM algorithm can be used to learn the parameters. 12.3.2. Nonparametric Methods In nonparametric methods for outlier detection, the model of “normal data” is learned from the input data, rather than assuming one a priori. Nonparametric methods often make fewer assumptions about the data, and thus can be applicable in more scenarios.

1967: Israel, the War, and the Year That Transformed the Middle East by Tom Segev

affirmative action, anti-communist, Ascot racecourse, Berlin Wall, Boycotts of Israel, British Empire, cuban missile crisis, distributed generation, friendly fire, full employment, ghettoisation, government statistician, illegal immigration, invisible hand, mass immigration, Mount Scopus, open borders, Ronald Reagan, Yom Kippur War, young professional

Only three cities had not yet been captured—Nablus, Hebron, and Jericho—but they were encircled. The air force had shot down twenty-three more planes, about half Egyptian and half Iraqi, and had lost five of its own. The number of Israeli dead had reached 460: 225 in the south and 235 on the West Bank.46 The commander of Southern Command distributed General Order No. 2 among his troops: “Never before have so few pilots destroyed so many aircraft in such a short time.” He urged them to keep up the good work: “Follow the enemy and strike him down, hit him again and again, until he is defeated by the sword of the fighters of the Southern Command,” he wrote.47 CHAPTER 14 DAY THREE 1.

Before the Storm: Barry Goldwater and the Unmaking of the American Consensus by Rick Perlstein

"there is no alternative" (TINA), affirmative action, Alan Greenspan, Alvin Toffler, anti-communist, anti-work, antiwork, Berlin Wall, bread and circuses, Bretton Woods, business climate, card file, collective bargaining, company town, cuban missile crisis, desegregation, distributed generation, Dr. Strangelove, Electric Kool-Aid Acid Test, ending welfare as we know it, George Gilder, haute couture, Henry Ford's grandson gave labor union leader Walter Reuther a tour of the company’s new, automated factory…, Herman Kahn, index card, indoor plumbing, invisible hand, Joan Didion, liberal capitalism, Marshall McLuhan, means of production, military-industrial complex, mortgage debt, New Journalism, Norman Mailer, plutocrats, Project Plowshare, road to serfdom, Robert Bork, rolodex, Ronald Reagan, Rosa Parks, school vouchers, the medium is the message, The Wealth of Nations by Adam Smith, transcontinental railway, union organizing, Upton Sinclair, upwardly mobile, urban renewal, War on Poverty, Watson beat the top human players on Jeopardy!, white picket fence, Works Progress Administration

Evetts Haley, A Texan Looks at Lyndon: A Study in Illegitimate Power (Canyon, Tex.: Palo Duro Press, 1964). For LBJ: A Political Biography, see GRR, October 31, 1964; and Diamond, Roads to Dominion, 153. 478 At rallies the books were handed out: author interview with Ann Sullivan. For Spanish, LP versions, Virginia sales, and distribution generally, see O‘Brien field reports, October 1, 1964, October 2, 1964, October 6, 1964, and October 20, 1964, LBJWHA: Wilson, Box 3/Memos to the President—O’Brien Trips. Hear also LBJ and Houston Harte, August 31, 1964, LBJT, 6408.42/12. 500,000 were sent out by the Walter Knott-led group Citizens for Constructive Action; see Lisa McGirr, “Suburban Warriors: Grass-Roots Conservatism in the 1960s” (Ph.D. diss., Columbia University, 1995), 166. 478 “Your letter to the President”: September 16, 1964, draft for Moyers letter, LBJWHAM53.

Valuation: Measuring and Managing the Value of Companies by Tim Koller, McKinsey, Company Inc., Marc Goedhart, David Wessels, Barbara Schwimmer, Franziska Manoury

accelerated depreciation, activist fund / activist shareholder / activist investor, air freight, ASML, barriers to entry, Basel III, Black Monday: stock market crash in 1987, book value, BRICs, business climate, business cycle, business process, capital asset pricing model, capital controls, Chuck Templeton: OpenTable:, cloud computing, commoditize, compound rate of return, conceptual framework, corporate governance, corporate social responsibility, creative destruction, credit crunch, Credit Default Swap, currency risk, discounted cash flows, distributed generation, diversified portfolio, Dutch auction, energy security, equity premium, equity risk premium, financial engineering, fixed income, index fund, intangible asset, iterative process, Long Term Capital Management, low interest rates, market bubble, market friction, Myron Scholes, negative equity, new economy, p-value, performance metric, Ponzi scheme, price anchoring, proprietary trading, purchasing power parity, quantitative easing, risk free rate, risk/return, Robert Shiller, Savings and loan crisis, shareholder value, six sigma, sovereign wealth fund, speech recognition, stocks for the long run, survivorship bias, technology bubble, time value of money, too big to fail, transaction costs, transfer pricing, two and twenty, value at risk, yield curve, zero-coupon bond

In contrast, General Mills substantially reduced costs in Pillsbury’s purchasing, manufacturing, and distribution, because the two companies’ operations duplicated significant costs. On the revenue side, General Mills boosted Pillsbury’s revenues by introducing Pillsbury products to schools in the United States where General Mills already had a strong presence. And the synergies worked both ways: for instance, Pillsbury’s refrigerated trucks were used to distribute General Mills’ new line of refrigerated meals. Pillsbury represented value in at least two ways at the time of the sale: its value to General Mills and its value to Diageo. For General Mills to consider the deal attractive, Pillsbury’s worth under General Mills’ ownership had to be greater than the $10.4 billion purchase price.

Thomas Cromwell: A Life by Diarmaid MacCulloch

active measures, distributed generation, failed state, fake news, land tenure, wikimedia commons

This time Husee dared to point out that the bride was the Queen’s sister.13 The venue was 9 miles from London, at Cromwell’s country house at Mortlake, a hasty journey for the Lord Privy Seal from accompanying the King on his summer progress further west in Surrey, at Sunninghill and Guildford. Richard Cromwell handed over fifty pounds to Gregory as a present from his father, then the Lord Privy Seal himself distributed generous gifts of cash round the household.14 Apart from any political discretion about the wedding, the plague was currently raging in London, and every public ceremony was low key. A rural location like Mortlake would not only alleviate the wedding party’s anxieties, but soothe the King’s perennial obsession with outsiders bringing infection to the Court, an anxiety heightened at the time by the Queen’s advanced pregnancy.

The C++ Programming Language by Bjarne Stroustrup

combinatorial explosion, conceptual framework, database schema, Dennis Ritchie, distributed generation, Donald Knuth, fault tolerance, functional programming, general-purpose programming language, higher-order functions, index card, iterative process, job-hopping, L Peter Deutsch, locality of reference, Menlo Park, no silver bullet, Parkinson's law, premature optimization, sorting algorithm

. (∗2.5) Plot points in a square output area. The coordinate pairs for the points should be generated by U Urraanndd(N N), where N is the number of pixels on a side of the output area. What does the output tell you about the distribution of numbers generated by U Urraanndd? 15. (∗2) Implement a Normal distribution generator, N Nrraanndd. The C++ Programming Language, Third Edition by Bjarne Stroustrup. Copyright ©1997 by AT&T. Published by Addison Wesley Longman, Inc. ISBN 0-201-88954-4. All rights reserved. 688 Numerics Chapter 22 The C++ Programming Language, Third Edition by Bjarne Stroustrup. Copyright ©1997 by AT&T.

Stigum's Money Market, 4E by Marcia Stigum, Anthony Crescenzi

accounting loophole / creative accounting, Alan Greenspan, Asian financial crisis, asset allocation, asset-backed security, bank run, banking crisis, banks create money, Bear Stearns, Black-Scholes formula, book value, Brownian motion, business climate, buy and hold, capital controls, central bank independence, centralized clearinghouse, corporate governance, credit crunch, Credit Default Swap, cross-border payments, currency manipulation / currency intervention, currency risk, David Ricardo: comparative advantage, disintermediation, distributed generation, diversification, diversified portfolio, Dutch auction, financial innovation, financial intermediation, fixed income, flag carrier, foreign exchange controls, full employment, Glass-Steagall Act, Goodhart's law, Greenspan put, guns versus butter model, high net worth, implied volatility, income per capita, intangible asset, interest rate derivative, interest rate swap, inverted yield curve, junk bonds, land bank, large denomination, locking in a profit, London Interbank Offered Rate, low interest rates, margin call, market bubble, market clearing, market fundamentalism, Money creation, money market fund, mortgage debt, Myron Scholes, offshore financial centre, paper trading, pension reform, Phillips curve, Ponzi scheme, price mechanism, price stability, profit motive, proprietary trading, prudent man rule, Real Time Gross Settlement, reserve currency, risk free rate, risk tolerance, risk/return, Savings and loan crisis, seigniorage, shareholder value, short selling, short squeeze, tail risk, technology bubble, the payments system, too big to fail, transaction costs, two-sided market, value at risk, volatility smile, yield curve, zero-coupon bond, zero-sum game

Specifically, under the Fed’s ruling, a bank was prohibited from extending any credit to its securities affiliate, except intraday credit extended in connection with the clearing of U.S. government securities; also, under the Fed’s 1987 ruling, a bank holding company was permitted to lend to its securities subsidiary, but such loans had to be overcollateralized or deducted from the capital of the holding company. Where banks had an advantage over most securities dealers was in international distribution. Generally, the biggest of the banks had operations in more foreign financial centers and had been there for longer than the biggest of the U.S. nonbank dealers. Profitability No Barrier to Reform Much of the time when U.S. banks were fighting for the right to underwrite an expanded menu of securities, their profits were rising sharply.