[R] How to Describe R to Finance People
Frank E Harrell Jr
f.harrell at vanderbilt.edu
Sat Jun 5 15:01:15 CEST 2004
One other important point in "selling" R is that its use results in
analysts doing a better job. I find that many SAS users for example
routinely assume that all covariable effects are linear because it is
messy to do otherwise in SAS. S has a natural modeling language for
flexible nonlinear effects (primarily because predictors can be
automatically-generated matrices containing basis functions) in addition
to computing dummy variables "secretly" and computing product terms for
interactions on the fly.
I prefer open source software for many reasons, but a major reason that
R is superior for statistical analysis and graphics today is its
functionality and extendibility. This leads to better analyses.
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