This paper uses Wald's concept of the risk of a statistical decision function to address the question: How should sample data on treatment response be used to guide treatment choices in a heterogeneous population? Statistical treatment rules (STRs) are statistical decision functions that map...

In recent years, graphics have become an essential part of modern data analysis. This paper describes a system called CLOUDS which is designed to make available on inexpensive storage tube terminals a wide range of graphic tools related to data analysis, economics, and management science. The...

This paper establishes a new framework for assessing multimodal statistical causality between cryptocurrency market (cryptomarket) sentiment and cryptocurrency price processes. In order to achieve this we present an efficient algorithm for multimodal statistical causality analysis based on...

Analysts using the Health and Retirement Survey (HRS) often require information on earnings, labor market attachment, and social security benefits in order to better understand the factors affecting retirement and well-being at older ages. To this end, several derived variables were constructed...

A central problem in applied empirical work is to separate out the patterns in the data that are due to poor production of the data, such as e.g. non-response and measurement errors, from the patterns attributable to the economic phenomena studied. This paper interprets this inference problem as...

In order to better capture the close relationship between firms' cross-border trading activities and the sales and purchasing activities of their foreign affiliates, this paper proposes supplementary accounting formats that classify cross-border and foreign affiliate activities on an ownership...

Using internal and public use March Current Population Survey data, we analyze trends in US income inequality (1975-2004). Using a multiple imputation approach where values for censored observations are imputed using draws from a Generalized Beta distribution of the Second Kind, we find that the...

The paper deals with the problem of determinants of the auction prices of the works of art. A specialattention is given to the attributes of works of art i.e.: the name of artist, time of creation, format (size), theme, technique, signature and their influence on the level of auction prices. The...

The growing labor force participation of women with small children in both the U.S. and Canada has led to calls for increased public financing for childcare. The optimality of public financing depends on a host of factors, such as the %u201Ccrowd-out%u201D of existing childcare arrangements, the...

There are two broad classes of models used to address the econometric problems caused by skewness in data commonly encountered in health care applications: (1) transformation to deal with skewness (e.g., OLS on ln(y)); and (2) alternative weighting approaches based on exponential conditional...