Econometric Sense

 Scott Cunningham brings up some interesting points about matching and utility maximization in this substack post: https://causalinf.substack.com/p/why-do-economists-so-dislike-conditional   ...

http://econometricsense.blogspot.com/2023/03/are-matching-estimators-and-conditional.html

Back in 2012 I wrote about the basic 2 x 2 difference in difference analysis (two groups, two time periods). Columbia public health probably has a better introduction.  The most famous exampl...

http://econometricsense.blogspot.com/2023/02/what-is-new-and-different-about.html

INTRODUCTION >>  Summary: Causality in business means understanding how to connect >>  the things we do with the value we create. A cause is something >>  that mak...

http://econometricsense.blogspot.com/2022/10/the-business-value-of-experimentation.html

In a previous post  I noted:  " ...correlations or 'flags' from big data might not 'identify' causal effects, but they are useful for prediction and might point us in directions where we can ...

http://econometricsense.blogspot.com/2021/11/causal-decision-making-with-non-causal.html

In Thinking Fast and Slow, Kahneman points out that what matters more than the quality of evidence, is the coherence of the story. In business and medicine, he notes that this kind of 'pretended'...

http://econometricsense.blogspot.com/2021/07/ra-fisher-big-data-and-thinking-like.html

If you are a reader of this blog you are familiar with the number of posts I have shared about machine learning and causal inference and the benefits of education in economics . I have also disc...

http://econometricsense.blogspot.com/2021/06/science-communication-for-business-and.html

In previous posts I have discussed the value proposition of business experiments from both a classical and behavioral economic perspective. This series of posts has been greatly influenced by Jim...

http://econometricsense.blogspot.com/2021/04/the-value-of-business-experiments-part.html

APPLIED ECONOMICS IS A BROAD FIELD WITH MANY APPLICATIONS. Applied Economics is a broad field of study covering many topics. Recognizing the wide range of applications has led departments of Ag...

http://econometricsense.blogspot.com/2010/09/why-study-applied-economics.html

Classification models with binary and categorical outcomes are often assessed based on the c-statistic or area under the ROC curve. (see also:http://econometricsense.blogspot.com/2013/04/is-roc-c...

http://econometricsense.blogspot.com/2020/09/calibration-discrimination-and-ethics.html

In a previous post I discussed block randomized designs.  Duflo et al (2008) describe this in more detail: "Since the covariates to be used must be chosen in advance in order to avoid speci...

http://econometricsense.blogspot.com/2020/09/blocking-and-causality.html

When I first learned about randomized complete block designs as an undergraduate to me it was just another set of computations to memorize for the test. (this was before I understood statistics a...

http://econometricsense.blogspot.com/2020/08/blocked-designs.html

Assessing the balance between treatment and control groups across control variables is an important part of propensity score matching. It's heuristically an attempt to ‘recreate’ a situation ...

http://econometricsense.blogspot.com/2020/07/assessing-balance-for-matching-and-rcts.html

Knowledge is the most important resource in a firm and the essence of organizational capability, innovation, value creation, strategy, and competitive advantage. Causal knowledge is no exception....

http://econometricsense.blogspot.com/2020/05/the-value-of-business-experiments-part.html

In my previous post I discussed the value proposition of experimentation and causal inference from a mainline economic perspective. In this post I want to view this from a behavioral economic pe...

http://econometricsense.blogspot.com/2020/04/the-value-of-business-experiments-part.html

Why should firms leverage experimentation and causal inference? With recent advancements in computing power and machine learning, why can't they simply base all of their decisions on predictions ...

http://econometricsense.blogspot.com/2020/04/the-value-of-business-experiments-and.html

If you have taken very many statistics courses you may have gotten the impression that it's mostly a mixed bag of computations and rules for conducting hypothesis tests or making predictions or c...

http://econometricsense.blogspot.com/2020/04/statistics-is-way-of-thinking-not-just.html

Many times in a randomized controlled trial (RCT) issues related to non-compliance arise. Subjects assigned to the treatment fail to comply, while in other cases subjects that were supposed to be...

http://econometricsense.blogspot.com/2020/02/randomized-encouragement-when.html

Something I have been interested in for some time now is both is the convergence of big data and genomics and the convergence of causal inference and machine learning.   I am a big fan of the ...

http://econometricsense.blogspot.com/2019/12/some-recommended-podcasts-and-episodes.html

In "Dissecting racial bias in an algorithm used to manage the health of populations" (Science, Vol 366 25 Oct. 2019) the authors discuss inherent racial bias in widely adopted algorithms in healt...

http://econometricsense.blogspot.com/2019/12/when-wicked-problems-meet-biased-data.html

In 2018, an article in Science characterized the challenge of pesticide resistance as a wicked problem: “If we are to address this recalcitrant issue of pesticide resistance, we must treat it ...

http://econometricsense.blogspot.com/2019/09/wicked-problems-and-role-of-expertise.html

In an EconTalk podcast with Cathy O'Neil Russ Roberts discusses her book Weapons of Math Destruction and some of the unintentional negative consequences of certain machine learning applications i...

http://econometricsense.blogspot.com/2019/05/in-econtalk-podcast-with-cathy-oneil.html

Abadie Diamond and Hainmueller introduce the method of synthetic controls as an alternative to difference-in-differences for evaluating the effectiveness of a tobacco control program in Californi...

http://econometricsense.blogspot.com/2019/04/synthetic-controls-baby-toy-example.html

Many times in a randomized controlled trial (RCT) issues related to non-compliance arise. Subjects assigned to the treatment fail to comply, while in other cases subjects that were supposed to be...

http://econometricsense.blogspot.com/2019/04/intent-to-treat-instrumental-variables.html

There was recently a very good article in Nature pushing back against dichotomizing thresholds for p-values (i.e. p < .05). This follows the ASAs statement on the interpretation of p-values. ...

http://econometricsense.blogspot.com/2019/03/abandoning-statistical-significance-or.html

There was a really good article on LinkedIn some time ago regarding how Airbnb classifieds its data science roles: https://www.linkedin.com/pulse/one-data-science-job-doesnt-fit-all-elena-grewal...

http://econometricsense.blogspot.com/2019/02/the-multiplicity-of-data-science.html