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We construct a neural network algorithm that generates price predictions for art at auction, relying on both visual and non-visual object characteristics. We find that higher automated valuations relative to auction house pre-sale estimates are associated with substantially higher...
Persistent link: https://www.econbiz.de/10013555468
is a strong predictor of economic surprises, suggesting that forecasters behave strategically (rational bias) and possess … direction of economic surprises, regret becomes a relevant cognitive bias to explain asset price responses. We find that the …
Persistent link: https://www.econbiz.de/10011901258
productivity distortions. The theoretical conditions necessary to completely eliminate bias are extreme and unlikely to appear in … a decrease (if not a full elimination) of bias, as has been documented in several empirical settings. The model makes …
Persistent link: https://www.econbiz.de/10012038853
In this study, we propose a novel approach to detect supply-side media bias, independent of external factors like … analysis into articles' transition to print and podcasts suggests that increased competition may reduce media bias, indicating …
Persistent link: https://www.econbiz.de/10014456150
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We derive general, yet simple, sharp bounds on the size of the omitted variable bias for a broad class of causal … bound on the bias depends only on the additional variation that the latent variables create both in the outcome and in the … (in explaining treatment and outcome variation) are sufficient to place overall bounds on the size of the bias. Finally …
Persistent link: https://www.econbiz.de/10012800720
Machine learning algorithms are now frequently used in sensitive contexts that substantially affect the course of human lives, such as credit lending or criminal justice. This is driven by the idea that 'objective' machines base their decisions solely on facts and remain unaffected by human...
Persistent link: https://www.econbiz.de/10012059236