How will Machine Learning affect economics?
Large-scale data has great advantages in terms of finding natural experiments (to take a trivial example, if you want to measure how a July 15 price change affected sales, it's much more powerful to have daily sales data than monthly sales data). But for the most part economists trying to estimate causal models on large-scale data are using traditional methods like fixed effects linear regression. Having some easy to use alternatives would probably make a significant difference in empirical research.
Mar-27-2016, 09:05:30 GMT
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