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  • 2021
  • Working Paper

BEAT Unintended Bias in Personalized Policies
By: Eva Ascarza and Ayelet Israeli
An inherent risk of algorithmic personalization is disproportionate targeting of individuals from certain groups (or demographic characteristics such as gender or race), even when the decision maker does not intend to discriminate based on those "protected" attributes....  View Details
Keywords: Algorithmic Bias; Personalization; Targeting; Fairness; Discrimination
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  • August 2021
  • Article

Multiple Imputation Using Gaussian Copulas
By: F.M. Hollenbach, I. Bojinov, S. Minhas, N.W. Metternich, M.D. Ward and A. Volfovsky
Missing observations are pervasive throughout empirical research, especially in the social sciences. Despite multiple approaches to dealing adequately with missing data, many scholars still fail to address this vital issue. In this paper, we present a simple-to-use...  View Details
Keywords: Missing Data; Bayesian Statistics; Imputation; Categorical Data; Estimation
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  • 2021
  • Working Paper

Achieving Reliable Causal Inference with Data-Mined Variables: A Random Forest Approach to the Measurement Error Problem
By: Mochen Yang, Edward McFowland III, Gordon Burtch and Gediminas Adomavicius
Combining machine learning with econometric analysis is becoming increasingly prevalent in both research and practice. A common empirical strategy involves the application of predictive modeling techniques to "mine" variables of interest from available data, followed...  View Details
Keywords: Machine Learning; Econometric Analysis; Instrumental Variable; Random Forest; Causal Inference; Analysis; Theory; Measurement and Metrics; Performance Consistency
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  • November 2020
  • Article

Taxation in Matching Markets
By: Arnaud Dupuy, Alfred Galichon, Sonia Jaffe and Scott Duke Kominers
We analyze the effects of taxation in two-sided matching markets, i.e., markets in which all agents have heterogeneous preferences over potential partners. In matching markets, taxes can generate inefficiency on the allocative margin by changing who is matched to whom,...  View Details
Keywords: Matching Markets; Labor Markets; Taxation; Labor; Markets
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  • 2019
  • Article

Time Series Experiments and Causal Estimands: Exact Randomization Tests and Trading
By: Iavor I Bojinov and Neil Shephard
We define causal estimands for experiments on single time series, extending the potential outcome framework to dealing with temporal data. Our approach allows the estimation of a broad class of these estimands and exact randomization based p-values for testing causal...  View Details
Keywords: Causality; Nonparametric; Potential Outcomes; Trading Costs; Mathematical Methods
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  • November 2019
  • Article

How Do Sales Efforts Pay Off? Dynamic Panel Data Analysis in the Nerlove-Arrow Framework
By: Doug J. Chung, Byungyeon Kim and Byoung G. Park
This paper evaluates the short- and long-term value of sales representatives’ detailing visits to different types of physicians. By understanding the dynamic effect of sales calls across heterogeneous physicians, we provide guidance on the design of optimal call...  View Details
Keywords: Nerlove-Arrow Framework; Stock-of-goodwill; Dynamic Panel Data; Serial Correlation; Instrumental Variables; Sales Effectiveness; Detailing; Data and Data Sets; Sales; Analysis; Performance Effectiveness; Pharmaceutical Industry
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  • 2019
  • Article

Ridesharing with Driver Location Preferences
By: Duncan Rheingans-Yoo, Scott Duke Kominers, Hongyao Ma and David C. Parkes
We study revenue-optimal pricing and driver compensation in ridesharing platforms when drivers have heterogeneous preferences over locations. If a platform ignores drivers' location preferences, it may make inefficient trip dispatches; moreover, drivers may strategize...  View Details
Keywords: Ridesharing; Pricing; Compensation and Benefits; Geographic Location; Market Design; Mathematical Methods
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  • May 2018
  • Article

Nowcasting Gentrification: Using Yelp Data to Quantify Neighborhood Change
By: Edward L. Glaeser, Hyunjin Kim and Michael Luca
Data from digital platforms have the potential to improve our understanding of gentrification and enable new measures of how neighborhoods change in close to real time. Combining data on businesses from Yelp with data on gentrification from the Census, Federal Housing...  View Details
Keywords: Forecasting Models; Simulation Methods; Regional Economic Activity: Growth, Development, Environmental Issues, And Changes; Geographic Location; Local Range; Transition; Data and Data Sets; Measurement and Metrics; Economic Growth; Forecasting and Prediction
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  • 2018
  • Working Paper

Efficient Discovery of Heterogeneous Treatment Effects in Randomized Experiments via Anomalous Pattern Detection
By: Edward McFowland III, Sriram Somanchi and Daniel B. Neill
In the recent literature on estimating heterogeneous treatment effects, each proposed method makes its own set of restrictive assumptions about the intervention’s effects and which subpopulations to explicitly estimate. Moreover, the majority of the literature provides...  View Details
Keywords: Causal Inference; Program Evaluation; Algorithms; Distributional Average Treatment Effect; Treatment Effect Subset Scan; Heterogeneous Treatment Effects
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  • 2018
  • Conference Presentation

Gaussian Process Subset Scanning for Anomalous Pattern Detection in Non-iid Data
By: William Herlands, Edward McFowland III, Andrew Gordon Wilson and Daniel B. Neill
Identifying anomalous patterns in real-world data is essential for understanding where, when, and how systems deviate from their expected dynamics. Yet methods that separately consider the anomalousness of each individual data point have low detection power for subtle,...  View Details
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  • May 2017
  • Article

Agent-based Modeling: A Guide for Social Psychologists
By: Joshua Conrad Jackson, David Rand, Kevin Lewis, Michael I. Norton and Kurt Gray
Agent-based modeling is a longstanding but underused method that allows researchers to simulate artificial worlds for hypothesis testing and theory building. Agent-based models (ABMs) offer unprecedented control and statistical power by allowing researchers to...  View Details
Keywords: Social Psychology; Marketing; Mathematical Methods
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  • 2016
  • Article

Penalized Fast Subset Scanning
By: Skyler Speakman, Sriram Somanchi, Edward McFowland III and Daniel B. Neill
We present the penalized fast subset scan (PFSS), a new and general framework for scalable and accurate pattern detection. PFSS enables exact and efficient identification of the most anomalous subsets of the data, as measured by a likelihood ratio scan statistic....  View Details
Keywords: Disease Surveillance; Likelihood Ratio Statistic; Pattern Detection; Scan Statistic; Mathematical Methods
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  • Article

Transition to Clean Technology
By: Daron Acemoglu, Ufuk Akcigit, Douglas Hanley and William R. Kerr
We develop a microeconomic model of endogenous growth where clean and dirty technologies compete in production and innovation, in the sense that research can be directed to either clean or dirty technologies. If dirty technologies are more advanced to start with, the...  View Details
Keywords: Technological Innovation; Entrepreneurship; Environmental Sustainability; Green Technology Industry
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  • 2015
  • Article

Scalable Detection of Anomalous Patterns With Connectivity Constraints
By: Skyler Speakman, Edward McFowland III and Daniel B. Neill
We present GraphScan, a novel method for detecting arbitrarily shaped connected clusters in graph or network data. Given a graph structure, data observed at each node, and a score function defining the anomalousness of a set of nodes, GraphScan can efficiently and...  View Details
Keywords: Biosurveillance; Event Detection; Graph Mining; Scan Statistics; Spatial Scan Statistic
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  • April 2014
  • Tutorial

Conjoint Analysis: Online Tutorial
By: Elie Ofek and Olivier Toubia
The Conjoint Analysis: Online Tutorial is an interactive pedagogical vehicle intended to facilitate understanding of one of the most popular market research methods in academia and practice, namely conjoint analysis. The aim is to provide students or executives going...  View Details
Keywords: Market Research; Conjoint Analysis; Market Segmentation; Pricing; Marketing Strategy
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  • Article

Portfolio Value-at-Risk Optimization for Asymmetrically Distributed Asset Returns
By: Joel Goh, Kian Guan Lim, Melvyn Sim and Weina Zhang
We propose a new approach to portfolio optimization by separating asset return distributions into positive and negative half-spaces. The approach minimizes a newly-defined Partitioned Value-at-Risk (PVaR) risk measure by using half-space statistical information. Using...  View Details
Keywords: Robust Optimization; Portfolio Management; Value-at-risk; Mathematical Methods; Finance
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  • 2011
  • Article

Scalable Detection of Anomalous Patterns With Connectivity Constraints
By: Skyler Speakman, Edward McFowland III and Daniel B. Neill
We present GraphScan, a novel method for detecting arbitrarily shaped connected clusters in graph or network data. Given a graph structure, data observed at each node, and a score function defining the anomalousness of a set of nodes, GraphScan can efficiently and...  View Details
Keywords: Biosurveillance; Event Detection; Graph Mining; Scan Statistics; Spatial Scan Statistic
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  • February 2010
  • Supplement

Real Property Negotiation Game (CW): Excel Model
By: Arthur I. Segel, John Vogel and Justin Seth Ginsburgh
This Excel model is used to analyze the deals made in The Real Property Negotiation Game, which simulates the experience negotiating the sale, purchase, or financing of a property.  View Details
Keywords: Property; Negotiation Deal; Sales; Financing and Loans; Mathematical Methods; Real Estate Industry
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  • December 2009
  • Article

Strategy-proofness versus Efficiency in Matching with Indifferences: Redesigning the NYC High School Match
By: Atila Abdulkadiroglu, Parag A. Pathak and Alvin E. Roth
The design of the New York City (NYC) High School match involved tradeoffs among efficiency, stability, and strategy-proofness that raise new theoretical questions. We analyze a model with indifferences—ties—in school preferences. Simulations with field data and the...  View Details
Keywords: Decision Choices and Conditions; Secondary Education; Marketplace Matching; Performance Efficiency; Mathematical Methods; Motivation and Incentives; Strategy; Balance and Stability
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  • 2009
  • Working Paper

Systemic Risk and the Refinancing Ratchet Effect
By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market—rising home prices, declining interest rates, and near-frictionless refinancing opportunities—led to vastly increased systemic risk in the financial system. Individually, each of these trends is...  View Details
Keywords: Housing; Mortgages; Risk and Uncertainty; Value; Mathematical Methods; Real Estate Industry; United States
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