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Noah Giansiracusa, "Robin Hood Math: Take Control of the Algorithms That Run Your Life" (Penguin, 2025)

New Books in Economics

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Understanding Inflation through Weighted Averages

This chapter explores the use of weighted sums in measuring consumer price inflation, illustrating how different goods and services are assigned varying weights based on consumer spending. It emphasizes the subjective nature of these weights and how incorporating expert predictions with weighted averages can enhance the accuracy of economic forecasts.

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