Showing 81 - 90 of 518
Persistent link: https://www.econbiz.de/10009013182
Perceived shortcomings in the quality of American education at the elementary and secondary school levels have drawn much public attention recently. In particular, concern with the composition of the teacher force has been prominent. Informed assessment of the various proposals for increasing...
Persistent link: https://www.econbiz.de/10012477547
Statisticians have proposed meta-analysis to combine the findings of multiple studies of health risks or treatment response. The standard practice is to compute a weighted-average of the estimates. Yet it is not clear how to interpret a weighted average of estimates reported in disparate...
Persistent link: https://www.econbiz.de/10012479460
In the early 1940s, Haavelmo proposed a probabilistic structure for econometric modeling, aiming to make econometrics useful for public decision making. His fundamental contribution has become thoroughly embedded in subsequent econometric research, yet it could not fully answer all the deep...
Persistent link: https://www.econbiz.de/10012480540
Forthright characterization of scientific uncertainty is important in principle and serves important practical purposes. Nevertheless, economists and other researchers commonly report findings with incredible certitude, reporting point predictions and estimates. To motivate expression of...
Persistent link: https://www.econbiz.de/10012480560
COVID-19 antibody tests have imperfect accuracy. There has been lack of clarity on the meaning of reported rates of false positives and false negatives. For risk assessment and clinical decision making, the rates of interest are the positive and negative predictive values of a test. Positive...
Persistent link: https://www.econbiz.de/10012481809
Vaccination against infectious disease may be beneficial to reduce illness in vaccinated persons and disease transmission across the population. The welfare-economic practice of specifying a social welfare function and considering a planner who seeks to optimize welfare provides a constructive...
Persistent link: https://www.econbiz.de/10012482662
Analyses of public policy regularly express certitude about the consequences of alternative policy choices. Yet policy predictions often are fragile, with conclusions resting on critical unsupported assumptions. Then the certitude of policy analysis is not credible. This paper develops a...
Persistent link: https://www.econbiz.de/10012462448
Research on collective provision of private goods has focused on distributional considerations. This paper studies a class of problems of decision under uncertainty in which the argument for collective choice emerges from the mathematics of aggregating individual payoffs. Consider decision...
Persistent link: https://www.econbiz.de/10012463477
This paper concerns the prescriptive function of decision analysis. I suppose that an agent must choose an action yielding welfare that varies with the state of nature. The agent has a welfare function and beliefs, but he does not know the actual state of nature. It is often argued that such an...
Persistent link: https://www.econbiz.de/10012464251