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new quasi-experimental tools to measure the impact of human discretion over an algorithm on the accuracy of decisions … judges in our setting underperform the algorithm when they make a discretionary override, with most making override decisions … that are no better than random. Yet the remaining 10% of judges outperform the algorithm in terms of both accuracy and …
Persistent link: https://www.econbiz.de/10014372504
NL2SOL is a modular program for solving the nonlinear least-squares problem that incorporates a number of novel features. It maintains a secant approximation S to the second-order part of the least-squares Hessian and adaptively decides when to use this approximation. We have found it very...
Persistent link: https://www.econbiz.de/10012478936
A new algorithm for the group minimization problem (GP) is proposed. The algorithm can be broadly described as follows …-known algorithm of Glover, and checked for non-negativity. The first non-negative point is an optimal solution of (GP). Advantages and … disadvantages of the algorithm are discussed; in particular, the implementation of the algorithm (which can be easily extended so as …
Persistent link: https://www.econbiz.de/10012478970
number of possible approaches to these problems and develops a particular algorithm based on the work of Powell and Dennis …
Persistent link: https://www.econbiz.de/10012479050
The law forbids discrimination. But the ambiguity of human decision-making often makes it extraordinarily hard for the legal system to know whether anyone has actually discriminated. To understand how algorithms affect discrimination, we must therefore also understand how they affect the problem...
Persistent link: https://www.econbiz.de/10012479502
objective function for the algorithm designer and a model of their information sets and interaction. We build such a model that … allows the training data to exhibit a wide range of "biases." Prevailing wisdom is that biased data change how the algorithm … is trained and whether an algorithm should be used at all. In contrast, we find two striking irrelevance results. First …
Persistent link: https://www.econbiz.de/10012481694
algorithm's treatment recommendation. We then show how these four moments can be estimated by extrapolating quasi … learning algorithm discriminates against Black defendants, even though defendant race and ethnicity are not included in the … training data. The algorithm recommends releasing white defendants before trial at an 8 percentage point (11 percent) higher …
Persistent link: https://www.econbiz.de/10012482441
The behavior of artificial intelligences algorithms (AIAs) is shaped by how they learn about their environment. We compare the prices generated by AIAs that use different learning protocols when there is market interaction. Asynchronous learning occurs when the AIA only learns about the return...
Persistent link: https://www.econbiz.de/10012496088
Increasingly, retailers have access to better pricing technology, especially in online markets. Using hourly data from five major online retailers, we show that retailers set prices at regular intervals that differ across firms. In addition, faster firms appear to use automated pricing rules...
Persistent link: https://www.econbiz.de/10012533409
? (2) Is it reachable through a decentralized algorithm? (3) What welfare properties does it possess? We prove that a … allocation achieved via sequential pairwise trades, but lends only weak support to the dynamic algorithm itself …
Persistent link: https://www.econbiz.de/10012457024