Large-scale data show promise to provide efficiency gains through individualized risk predictions in many business and policy settings. Yet, assessments of the degree of data-enabled efficiency improvements remain scarce. We quantify the value of the availability of a variety of data...

Personendaten aus der Verwaltung (Administrativdaten) haben sich in den letzten Jahrzehnten als wichtige Basis zur Evaluierung von Politikmaßnahmen erwiesen. Durch maschinelles Lernen können basierend auf diesen Daten auch Vorhersagen getroffen werden, die zur Lösung gesellschaftlicher...

In this paper, we build a new test of rational expectations based on the marginal distributions of realizations and subjective beliefs. This test is widely applicable, including in the common situation where realizations and beliefs are observed in two different data sets that cannot be matched....

In this paper, we build a new test of rational expectations based on the marginal distributions of realizations and subjective beliefs. This test is widely applicable, including in the common situation where realizations and beliefs are observed in two different data sets that cannot be matched....

Large-scale data show promise to provide efficiency gains through individualized risk predictions in many business and policy settings. Yet, assessments of the degree of data-enabled efficiency improvements remain scarce. We quantify the value of the availability of a variety of data...

Personendaten aus der Verwaltung (Administrativdaten) haben sich in den letzten Jahrzehnten als wichtige Basis zur Evaluierung von Politikmaßnahmen erwiesen. Durch maschinelles Lernen können basierend auf diesen Daten auch Vorhersagen getroffen werden, die zur Lösung gesellschaftlicher...