For decades, statistical methods, many based upon the “general linear model,” have been used to do estimation and test hypotheses in the social and natural sciences, in medicine, and in the private sector. These tools have become increasingly sophisticated and are often paired with powerful...

Spatial models in retailing allow for correlations among purchase decisions from consumers within predefined geographic areas. The purpose of these models is to control for unobserved demand side effects at the regional-level (e.g., a neighborhood), but they typically ignore synergies among...

Since the channel for agents' expectations matters for the effectiveness of monetary policies, it is crucial for policy-makers to assess the degree to which economic agents are boundedly rational and understand how the bounded rationality affects the monetary rules in stabilising the economy. We...