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The role of diagnostic ability in markets for expert services

Liu, Fang; Rasch, Alexander; Schwarz, Marco; Waibel, … - 2020

possible. However, inefficient equilibria can also exist. If, in equilibrium, experts provide diagnosis-independent treatments …

Persistent link: https://www.econbiz.de/10012315945

Bao, Yongping; Danwitz, Ludwig; Dvorak, Fabian; … - 2022

Algorithm-based decision support systems play an increasingly important role in decisions involving exploration tasks, such as product searches, portfolio choices, and human resource procurement. These tasks often involve a trade-off between exploration and exploitation, which can be highly...

Persistent link: https://www.econbiz.de/10013482224

Lifestyle taxes in the presence of profit shifting

Levaggi, Rosella; Marchiori, Carmen; Panteghini, Paolo - 2020

lifestyle taxes may exist. In general, the First Best sin tax cannot be levied if Governments are also interested in corporate … harder to impose significant lifestyle taxes. We also provide some insights about the effects that the international effort … to fight profit shifting may have on lifestyle taxes. …

Persistent link: https://www.econbiz.de/10012174697

Round-number effects in real estate prices : evidence from Germany

Englmaier, Florian; Roider, Andreas; Schlereth, Lars; … - 2023

Round numbers affect behavior in various domains, e.g., as prominent thresholds or focal points in bargaining. In line with earlier findings, residential real estate transactions in Germany cluster at round-number prices, but there are also interesting (presumably cultural) differences. We...

Persistent link: https://www.econbiz.de/10014426542

The economics of attention

Loewenstein, George; Wojtowicz, Zachary - 2023

Attention is a pivotal resource in the modern economy and plays an increasingly prominent role in economic analysis. We summarize research on attention from both psychology and economics, placing a particular emphasis on its capacity to explain numerous documented violations of classical...

Persistent link: https://www.econbiz.de/10014383940

Changing electricity markets : quantifying the price effects of greening the energy matrix

Kohlscheen, Emanuel; Moessner, Richhild - 2022 - Original Version: June 2022, this version: July 2022

We analyse the drivers of European Power Exchange (EPEX) retail electricity prices between 2012 and early 2022 using machine learning. The agnostic random forest approach that we use is able to reduce in-sample root mean square errors (RMSEs) by around 50% when compared to a standard linear...

Persistent link: https://www.econbiz.de/10013262773

Should we care (more) about data aggregation? : evidence from the democracy-growth-nexus

Gründler, Klaus; Krieger, Tommy - 2019

We compile data for 186 countries (1919 - 2016) and apply different aggregation methods to create new democracy indices. We observe that most of the available aggregation techniques produce indices that are often too favorable for autocratic regimes and too unfavorable for democratic regimes....

Persistent link: https://www.econbiz.de/10011966711

Does scientific progress affect culture? : a digital text analysis

Giorcelli, Michela; Lacetera, Nicola; Marinoni, Astrid - 2019

We study the interplay between scientific progress and culture through text analysis on a corpus of about eight million books, with the use of techniques and algorithms from machine learning. We focus on a specific scientific breakthrough, the theory of evolution through natural selection by...

Persistent link: https://www.econbiz.de/10011966910

Early detection of students at risk : predicting student dropouts using administrative student data and machine learning methods

Berens, Johannes; Schneider, Kerstin; Görtz, Simon; … - 2018

To successfully reduce student attrition, it is imperative to understand what the underlying determinants of attrition are and which students are at risk of dropping out. We develop an early detection system (EDS) using administrative student data from a state and a private university to predict...

Persistent link: https://www.econbiz.de/10011906290

Compliance effects of risk-based tax audits

Løyland, Knut; Raaum, Oddbjørn; Torsvik, Gaute; … - 2019

Tax administrations use machine learning to predict risk scores as a basis for selecting individual taxpayers for audit. Audits detect noncompliance immediately, but may also alter future filing behavior. This analysis is the first to estimate compliance effects of audits among high-risk wage...

Persistent link: https://www.econbiz.de/10012001649