Editorial Staff
Interview with Lorenzo Sierra Perez - Trader at Flow Traders
I found out quite quickly during my studies that continuing the natural path of becoming a PhD was not for me. I really liked the content, as both physics and mathematics basically presented complicated puzzles that I wanted to solve, but there were a couple of specific things about a PhD which really irked me. Spending four years -a long time!- on a single topic, mostly by yourself, with relatively little reward for doing great as opposed to scraping by; it had a lot of things that I really did not want in a job. Instead, I flipped them around: what jobs are out there that are fast-paced, very diverse, team-based, where there is a clear feedback loop and you can get a lot of responsibility fast if you do very well? With these job traits to look for, I landed on two possible career paths: strategy consulting, and trading. I sent out some messages to members of my study association who were working in those fields, and after a lot of chats with them I was convinced I should at least try my hand at getting into trading. Now I am coming up to four years as a trader at Flow Traders and I'm still very happy being here.
Meet the 37th VESTING Board
On Monday the 5th of January, the 37th VESTING Board was announced. Each one of them has written a short introduction about themselves below:
Econophysics from an Economist’s Perspective
What happens when Adam Smith meets Isaac Newton? Chaos, but with better equations. When the invisible hand meets the laws of motion, economics starts looking a lot like physics. In this crossover, an agent becomes a particle, energy becomes money, temperature becomes uncertainty, and trade becomes energy exchange. The result? Income distributions that behave like thermodynamic equilibria — and a new field people call econophysics.
Michael Klaster: Leadership and Econometrics – An Unexpected Bridge
After 27 years working as an econometrician I have learned that models often reveal more about the assumptions of the builder than about reality itself. We simplify, abstract, adopt a linear approach and hope that the residuals don't betray us. Yet time and again we see that the real difference between success or failure often lies outside the model. And one factor keeps recurring: leadership.
Study Harder or Smarter?
Every student has faced the dilemma: do I pull an all-nighter before an exam and reread the lecture slides for the third time? Or do I make sure to get a good night’s sleep? What is more important? Does more study time lead to higher results? Or does the way I study matter more? Let us explore whether the key to academic success is studying harder or smarter.
Neha - Trainee De Nederlandsche Bank
Neha heeft de master Econometrics and Operations Research aan de Vrije Universiteit van Amsterdam gevolgd. In september 2024 is ze gestart als trainee bij De Nederlandsche Bank. In dit artikel vertelt ze meer over haar werk en het DNB traineeship.
How Statistics Empower Players (but the house still wins)
Casinos have long tempted gamblers with the promise of making a quick fortune while playing stirring games. However, behind the spinning wheels and flashing lights is a whole world governed by statistics and probability. Every casino game is designed to ensure that, in the long run, the house wins. Still, throughout history, individuals have been attempting to use mathematics and probability to beat casinos. While some of these techniques can manipulate short-term probabilities in the favor of the player, the nature of statistics involved in gambling, ensures the casino holds its advantage.
Meet the 36th VESTING Board!
On Monday the 6th of January, the 36th board of VESTING was announced. Below, each of them has written a short introduction about themselves.
ORTEC: We are a family of smart explorative minds
We are everywhere around you, probably without you even realizing it. Among other things, we help our logistics customers to efficiently plan their routes and therefore reduce their CO₂ footprint; we help academic hospitals to efficiently plan their workforce and their schedule; we help our services customers to plan their visits to their [...]
Introduction Weekend Impression
Every year VESTING organizes an introduction weekend for the freshmen, including myself. The general theme of this weekend is getting to know your new fellow students. It is also a perfect opportunity to get a glimpse of the new world as a student. This was done by a variety of fun activities during the weekend. […]
The Fascinating Connection between Math and Philosophy: Unraveling Abstract Reasoning
Introduction Mathematics and philosophy may seem like separate subjects, but they have a special relationship that has shaped our thinking for centuries. Math, with its logic and precision, intersects with philosophy, which explores fundamental questions about existence and knowledge. In this article, we will explore how math and philosophy connect, complement, and enhance each other. […]
The Relevance of Econometrics in the Era of Artificial Intelligence
With the dawn of the digital age, our ability to gather and process data has increased exponentially, permeating practically every aspect of life. This evolution has amplified the growing significance and relevance of econometrics, a field dedicated to utilizing statistical methods and economic data. Among its many applications, econometrics allows us to quantify (economic) phenomena […]
Moore’s Law
In the fast-paced world of technology, few concepts have proven to be as influential as Moore’s Law. This observation was originally made by Gordon Moore in 1965, co-founder of Intel, which has guided the exponential growth and progress the digital world has made for over half a century. Back in 1965, Gordon Moore first made […]
What is the best strategy when playing Monopoly?
We have all played Monopoly at least once in our lifetime, the table game that turns best friends into evil competitors and even the most generous person into merciless. Who has never fought to buy a street while playing? How many times have you been accused of stealing money from the bank? Monopoly is one […]
Why you haven’t found love yet – the Math edition
Have you ever wondered how many people are out there for you? How many people tick all your boxes? Many of us are searching for ‘the one’, but haven’t found them yet. We are all searching for love, as feeling loved makes us feel less pressure, less alone, less anxious, more secure, more confident, and […]
The Paradox of Choice
The Paradox of Choice is a psychological phenomenon that refers to the idea that having too many choices can actually be detrimental to our well-being and decision-making processes. This paradox was first introduced by psychologist Barry Schwartz in his book “The Paradox of Choice: Why More Is Less.” Schwartz argues that while having a variety […]
The Accuracy Paradox
When Charles Darwin was deciding whether or not to propose to his cousin, Emma Wedgwood, he had a rather interesting approach. He drew up a list of pros and cons, as pros he listed things like children, companionship, and the charms of music and female chit-chat; and as cons he listed things like terrible loss […]
Pollution Games: Environmental externalities meet Economic analysis
The economic discipline has a long tradition on micro- and macroeconomics which aid the policy debates regarding contemporary issues. These days, besides governments having to deal with rising inflation, increasing wealth inequality or high levels of unemployment, the economics of climate change has been steadily rising to the agenda. However, I will highlight examples of […]
How Differential Equations Save the World
It is widely known that the course Difference- and Differential Equations is one of the most hated courses among students from the Bachelor EOR. This is probably due to the fact that only a small fraction of the students is able to pass the course. However, this should not take away from the fact that […]
Big Mac Index
When somebody from the West travels to Southeast Asia, he cannot help but notice how very low the cost of living is relative to the West. How do we compare prices across countries? The Big Mac index gives us an approximation. Purchasing power parity Purchasing power parity is a measurement used to compare the purchasing […]
Searching for the Unseen: A Journey into the World of Dark Matter
Have you ever wondered what everything in our Universe is made of? The answer may surprise you. Dark matter, a mysterious and elusive substance, makes up about 27% of the universe, while the matter we can see and interact with makes up only 5%. But what exactly is dark matter, and how do we study […]
Choosing prompts wisely: How to use ChatGPT optimally.
The AI industry is evolving rapidly, with major players such as OpenAI, Microsoft, Notion and Google constantly striving to maintain their competitive edge by launching products like Brad, Copilot and Notion AI. Among these, OpenAI’s ChatGPT has been a pivotal product that has sparked the widespread adoption of AI technology. For those who are new […]
The Complexities of Satellite insurance
In today’s society, we rely heavily on the vast network of satellites that orbit our planet. From providing GPS navigation to enabling global communications, satellites have truly become an essential part of our daily lives. However, with the increasing number of satellites being launched around the Earth’s orbit, the risk of potential damages has also […]
Are Our Climate Change Prediction Models Reliable?
On Monday, March 20th, the IPCC published a climate report with advice for policymakers. This advice is partly based on computer models, but criticism of these models is growing. To what extent do the assumptions made in these models accurately reflect our society? And do they still hold when making predictions about 2100? Detlef van […]
Beat all your friends at Catan!
Catan: if you’re a board game lover like me, you’ve probably heard of it. If not, then I really recommend taking a look at it. The game has a combination of luck and strategic thinking, and it is different each time you play it, as you can create a different playing board each time. This […]
Fractals
In 1904, Swedish mathematician Niels Fabian Helge von Koch discovered a curve with finite area but infinite length. Later, one would call these fractals. We start with an equilateral triangle. On each edge, we find the middle third. On the outside of that middle third, we build an equilateral triangle, and then remove the middle […]
Infinite Series
An infinite series is a sum of infinitely many quantities. Series play a very relevant role in calculus and its generalizations such as functional analysis and discrete mathematics. Since summing infinitely many elements is hard to grasp, a better way to describe an infinite series is to consider it as a limiting process of summing […]
The Mandelbrot set: a hypnotising phenomenon
Although you may never have heard of it, you’ve most likely seen it before. It is, in my opinion, one of the most beautiful sets in mathematics you will encounter. The set I’m referring to is called the Mandelbrot set. The iterative function (I will later elaborate on the meaning of this) which defines this […]
Past, Current and Future Macroeconomic Models
The Great Recession after the financial crisis gave rise to a lot of criticism of contemporary macroeconomic models. The standard modeling assumptions were severely challenged by scholars and policy makers, as they could not account for frictions in the financial intermediary sector or behavioral aspects of a turbulent economy. In this article, I will walk […]
Pyramid Schemes
In the Netherlands, a famous slogan on TV is ‘Let op: geld lenen kost geld’ (watch out: borrowing money costs money). No money can be earned for free. With a pyramid scheme, however, people seem to defy these laws of finance and make money out of nothing. How does this work? What is a pyramid […]