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are analysed and insights from the theory of industrial organisation are given. Governments intervene in the market for …
Persistent link: https://www.econbiz.de/10002734112
In this paper we specify a linear Cliff and Ord-type spatial model. The model allows for spatial lags in the dependent variable, the exogenous variables, and disturbances. The innovations in the disturbance process are assumed to be heteroskedastic with an unknown form. We formulate a multi-step...
Persistent link: https://www.econbiz.de/10003792846
We study the small sample properties of conditional quantile estimators such as classical and IV quantile regression. First, we propose a higher-order analytical framework for comparing competing estimators in small samples and assessing the accuracy of common inference procedures. Our framework...
Persistent link: https://www.econbiz.de/10012509400
This paper proposes a novel regularisation method for the estimation of large covariance matrices, which makes use of insights from the multiple testing literature. The method tests the statistical significance of individual pair-wise correlations and sets to zero those elements that are not...
Persistent link: https://www.econbiz.de/10010361374
over 2,000 participants. Decision makers allocate a fixed endowment between two receivers. To measure discrimination, we … more pronounced among decision makers who are male, non-migrants, have right-wing political preferences, and live in …
Persistent link: https://www.econbiz.de/10014533789
This paper presents an empirical investigation of the relation between decision speed and decision quality for a real …-by-move data provide exceptionally detailed and precise information about decision times and decision quality, based on a … with the predictions of procedural decision models like drift-diffusion-models in which decision makers sequentially …
Persistent link: https://www.econbiz.de/10012806643
. Third, we find that once people have made a decision, they tend to repeat it, demonstrating a strong preference for the …
Persistent link: https://www.econbiz.de/10012694052
irrespective of whether the experience is social or not. Our findings are in line with recent evidence on decision making under … various forms of social decision making. Our results suggest that the overall valence of an experience (gain or loss) matters …
Persistent link: https://www.econbiz.de/10012520860
Human decision-making differs due to variation in both incentives and available information. This generates substantial … challenges for the evaluation of whether and how machine learning predictions can improve decision outcomes. We propose a … decision maker payoff functions and predictive skill. We apply our framework to the major health policy problem of improving …
Persistent link: https://www.econbiz.de/10012315943
We determine the scoring rule that is most likely to select a high-ability candidate. A major result is that neither the widely used plurality rule nor the inverse-plurality rule are ever optimal, and that the Borda rule is hardly ever optimal. Furthermore, we show that only the almostplurality,...
Persistent link: https://www.econbiz.de/10011789019