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Machine Learning Estimation of Heterogeneous Causal Effects : Empirical Monte Carlo Evidence
Knaus, Michael - 2019
We investigate the finite sample performance of causal machine learning estimators for heterogeneous causal effects at different aggregation levels. We employ an Empirical Monte Carlo Study that relies on arguably realistic data generation processes (DGPs) based on actual data. We consider 24...
Persistent link: https://www.econbiz.de/10012894534
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Artificial Intelligence and the Economics of Decision-Making
Naudé, Wim - 2023
decisions. In this challenge, they confront two questions: what decision theory to follow and how to implement it in AI systems …. This paper provides answers to these questions and makes three contributions. The first is to discuss how economic decision … theory Expected Utility Theory (EUT) can help AI systems with utility functions to deal with the problem of instrumental …
Persistent link: https://www.econbiz.de/10014259545
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Using Machine Learning to Predict Nosocomial Infections and Medical Accidents in a Nicu
Beltempo, Marc - 2020
Background: Adult studies have shown that nursing overtime and unit overcrowding is associated with increased adverse patient events but there exists little evidence for the Neonatal Intensive Care Unit (NICU). Objectives: To predict the onset on nosocomial infections and medical accidents in a...
Persistent link: https://www.econbiz.de/10012837913
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Mostly Harmless Simulations? On the Internal Validity of Empirical Monte Carlo Studies
Advani, Arun - 2018
Currently there is little practical advice on which treatment effect estimator to use when trying to adjust for observable differences. A recent suggestion is to compare the performance of estimators in simulations that somehow mimic the empirical context. Two ways to run such 'empirical Monte...
Persistent link: https://www.econbiz.de/10012938144
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Bandwidth Selection and the Estimation of Treatment Effects with Unbalanced Data
Galdo, José; Smith, Jeffrey A.; Black, Dan - 2021
This paper addresses the selection of smoothing parameters for estimating the average treatment effect on the treated using matching methods. Because precise estimation of the expected counterfactual is particularly important in regions containing the mass of the treated units, we define and...
Persistent link: https://www.econbiz.de/10013316785
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Artificial Intelligence, Jobs, Inequality and Productivity : Does Aggregate Demand Matter?
Gries, Thomas - 2018
in endogenous growth theory, but modified to allow for demand-side constraints. This is a novel approach, given that …
Persistent link: https://www.econbiz.de/10012906469
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Occupational Classifications : A Machine Learning Approach
Ikudo, Akina - 2018
Characterizing the work that people do on their jobs is a longstanding and core issue in labor economics. Traditionally, classification has been done manually. If it were possible to combine new computational tools and administrative wage records to generate an automated crosswalk between job...
Persistent link: https://www.econbiz.de/10012912234
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Breakthroughs, Backlashes and Artificial General Intelligence : An Extended Real Options Approach
Gries, Thomas; Naudé, Wim - 2022
Breakthroughs and backlashes have marked progress in the development and diffusion of Artificial Intelligence (AI). These shocks make the investment in developing an Artificial General Intelligence (AGI) subject to considerable uncertainty. This paper applies a real options model, extended to...
Persistent link: https://www.econbiz.de/10014083861
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Independent Individual Decision-Makers in Household Models and the New Home Economics
Grossbard, Shoshana Amyra - 2010
individual models presented in his theory of marriage. Decision-making models assuming independent individual household members …Much of the recent literature in household economics has been critical of unitary models of household decision … discusses another alternative: independent individual models of decision-making that don't make any specific assumptions of …
Persistent link: https://www.econbiz.de/10013139037
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Is It Money or Brains? The Determinants of Intra-Family Decision Power
Bertocchi, Graziella - 2012
We empirically study the determinants of intra-household decision power with respect to economic and financial choices …'s characteristics in terms of age, education, and income. The main conclusion is that decision-making power over family economics is not …
Persistent link: https://www.econbiz.de/10013104671