This paper proposes a Bayesian method of performance evaluation for investment managers. We begin with a flexible set … likelihood estimation and does not require a comprehensive or bias-free database. We then apply our methodology to a sample of …

-world economic settings has been difficult to measure. We estimate the extent of a cognitive bias, confirmatory bias, among experts … regression-discontinuity approach to identify confirmatory bias in this real-world setting. We construct a unique personally … standard deviation in poll points in a given week can be attributed to confirmatory bias. This type of updating suggests that …

This paper considers causal inference and sample selection bias in non-experimental settings in which: (i) few units in …-treatment characteristics. We propose the use of propensity score matching methods and implement them using data from the NSW experiment … and compare the estimates of the treatment effect obtained using our methods to the benchmark results from the experiment …

This paper develops and applies semiparametric econometric methods to estimate the form of selection bias that arises … econometric selection model which represents the bias solely as a function of the probability of participation; and (c) the method … of difference-in-differences. Using data from an experiment on a prototypical social program combined with unusually rich …

produce. The utility of VA models for performance evaluation depends on the extent to which VA estimates are biased by … evaluating bias in VA is to test for balance in lagged values of the outcome, based on the intuition that today's inputs cannot …, tests for balance using lagged outcomes do not provide robust information about the degree of bias in value-added models for …

students' demographic characteristics and previous scores. This paper tests for VAM bias using a procedure that asks whether … model describing the joint distribution of school value-added, bias, and lottery compliance. We use this model to assess the … substantive importance of bias in conventional VAM estimates and to construct hybrid value-added estimates that optimally combine …

experiment base vindicates application of Bloom's method in this context …

combines these methods by using observed decisions by experts to reduce the demensionality of the feature space and allow the … categorization of decisions by their propensity score. The fact that the human capital of experts is heterogeneous implies that …

We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which … price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions … independent experts, despite doing substantially less business. In addition, more experienced experts attract more complaints per …