Statistical Simulation: Importance of Luck, Talent, Risk Seeking, & Initial Capital in Life

This project models individual capital accumulation using hierarchical distributions where users can adjust parameters (luck, talent, risk seeking, initial capital). The model runs many simulated lifetimes and then measures the influence of internal (talent, risk preference) and external (luck, initial capital) factors via stepwise nonlinear regression.

Key highlights

• Interactive R Shiny app that lets users change distribution parameters and observe outcomes live.
• Hierarchical simulation of individuals with tunable parameters.
• Stepwise nonlinear regression to measure relative influence of variables on final capital.
• 29 animated dynamic visualizations showing parameter distributions, trajectories, and relationships.

Links

• GitHub repo: https://github.com/Ianyliu/whats-important-in-life
• Live R Shiny app: https://iantheliu.shinyapps.io/RFinalProj/