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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

Optimal price targeting

Smith, Adam N.; Seiler, Stephan; Aggarwal, Ishant - 2021

We examine the proﬁtability of personalized pricing policies that are derived using diﬀerent speciﬁcations of demand in a typical retail setting with consumer-level panel data. We generate pricing policies from a variety of models, including Bayesian hierarchical choice models, regularized...

Persistent link: https://www.econbiz.de/10012692296

Using machine learning for measuring democracy : an update

Gründler, Klaus; Krieger, Tommy - 2021

We provide a comprehensive overview of the literature on the measurement of democracy and present an extensive update of the Machine Learning indicator of Gründler and Krieger (2016, European Journal of Political Economy). Four improvements are particularly notable: First, we produce a...

Persistent link: https://www.econbiz.de/10012437859

The gender pay gap revisited with big data : do methodological choices matter?

Strittmatter, Anthony; Wunsch, Conny - 2021

The vast majority of existing studies that estimate the average unexplained gender pay gap use unnecessarily restrictive linear versions of the Blinder-Oaxaca decomposition. Using a notably rich and large data set of 1.7 million employees in Switzerland, we investigate how the methodological...

Persistent link: https://www.econbiz.de/10012438342

News media vs. FRED-MD for macroeconomic forecasting

Ellingsen, Jon; Larsen, Vegard Høghaug; Thorsrud, Leif … - 2020

Using a unique dataset of 22.5 million news articles from the Dow Jones Newswires Archive, we perform an in depth real-time out-of-sample forecasting comparison study with one of the most widely used data sets in the newer forecasting literature, namely the FRED-MD dataset. Focusing on U.S. GDP,...

Persistent link: https://www.econbiz.de/10012304069

Uncertainty and monetary policy during extreme events

Pellegrino, Giovanni; Castelnuovo, Efrem; Caggiano, Giovanni - 2020

How damaging are uncertainty shocks during extreme events such as the great recession and the Covid-19 outbreak? Can monetary policy limit output losses in such situations? We use a nonlinear VAR framework to document the large response of real activity to a financial uncertainty shock during...

Persistent link: https://www.econbiz.de/10012288020

Financial frictions and the wealth distribution

Fernández-Villaverde, Jesús; Hurtado, Samuel; Nuño, Galo - 2020

We postulate a nonlinear DSGE model with a financial sector and heterogeneous households. In our model, the interaction between the supply of bonds by the financial sector and the precautionary demand for bonds by households produces significant endogenous aggregate risk. This risk induces an...

Persistent link: https://www.econbiz.de/10012260513

Battling antibiotic resistance : can machine learning improve prescribing?

Ribers, Michael Allan; Ullrich, Hannes - 2019

Antibiotic resistance constitutes a major health threat. Predicting bacterial causes of infections is key to reducing antibiotic misuse, a leading driver of antibiotic resistance. We train a machine learning algorithm on administrative and microbiological laboratory data from Denmark to predict...

Persistent link: https://www.econbiz.de/10012022285