《Welfare Analysis via Marginal Treatment Effects》
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作者:
Yuya Sasaki, Takuya Ura
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最新提交年份:
2020
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英文摘要:
Consider a causal structure with endogeneity (i.e., unobserved confoundedness) in empirical data, where an instrumental variable is available. In this setting, we show that the mean social welfare function can be identified and represented via the marginal treatment effect (MTE, Bjorklund and Moffitt, 1987) as the operator kernel. This representation result can be applied to a variety of statistical decision rules for treatment choice, including plug-in rules, Bayes rules, and empirical welfare maximization (EWM) rules as in Hirano and Porter (2020, Section 2.3). Focusing on the application to the EWM framework of Kitagawa and Tetenov (2018), we provide convergence rates of the worst case average welfare loss (regret) in the spirit of Manski (2004).
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中文摘要:
考虑经验数据中具有内生性(即未观察到的混淆)的因果结构,其中工具变量可用。在这种情况下,我们证明了平均社会福利函数可以通过边际治疗效应(MTE、Bjorklund和Moffitt,1987)作为算子核来识别和表示。该表示结果可应用于治疗选择的各种统计决策规则,包括插件规则、贝叶斯规则和经验福利最大化(EWM)规则,如平野和波特(2020年,第2.3节)。重点关注北川和特特诺夫(2018)的EWM框架的应用,我们根据曼斯基(2004)的精神提供了最坏情况下平均福利损失(遗憾)的收敛速度。
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分类信息:
一级分类:Economics 经济学
二级分类:Econometrics 计量经济学
分类描述:Econometric Theory, Micro-Econometrics, Macro-Econometrics, Empirical Content of Economic Relations discovered via New Methods, Methodological Aspects of the Application of Statistical Inference to Economic Data.
计量经济学理论,微观计量经济学,宏观计量经济学,通过新方法发现的经济关系的实证内容,统计推论应用于经济数据的方法论方面。
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