We introduce a new kernel smoother for nonparametric regression that uses prior information on regression shape in the form of a parametric model. In effect, we nonparametrically encompass the parametric model. We derive pointwise and uniform consistency and the asymptotic distribution of our...

An agent is asked to assess a real-valued variable Y_{p} based on certain characteristics X_{p} = (X_{p}^{1},...,X_{p}^{m}), and on a database consisting (X_{i}^{1},...,X_{i}^{m},Y_{i}) for i = 1,...,n. A possible approach to combine past observations of X and Y with the current values of X to...

People reason about real-estate prices both in terms of general rules and in terms of analogies to similar cases. We propose to empirically test which mode of reasoning fits the data better. To this end, we develop the statistical techniques required for the estimation of the case-based model....

We study semiparametric efficiency bounds and efficient estimation of parameters defined through general nonlinear, possibly non-smooth and over-identified moment restrictions, where the sampling information consists of a primary sample and an auxiliary sample. The variables of interest in the...

This paper offers a new identification strategy for disentangling structural state dependence from unobserved heterogeneity in preferences. Our strategy exploits market environments where there is a choice-consumption mismatch. We first demonstrate the effectiveness of our identification...

A decision maker is asked to express her beliefs by assigning probabilities to certain possible states. We focus on the relationship between her database and her beliefs. We show that, if beliefs given a union of two databases are a convex combination of beliefs given each of the databases, the...

An agent is asked to assess a real-valued variable y based on certain characteristics x=(x^{1},...,x^{m}), and on a database consisting of n observations of (x^{1},...,x^{m},y). A possible approach to combine past observations of x and y with the current values of x to generate an assessment of...

People may be surprised by noticing certain regularities that hold in existing knowledge they have had for some time. That is, they may learn without getting new factual information. We argue that this can be partly explained by computational complexity. We show that, given a database, finding a...

This paper analyzes Branch Rickey's 1954 equation in a regression context. The results for 1934--1953 are consistent with Rickey's conclusions, and the equation holds up well when extended 51 years. Two of Rickey's main points were that on base percentage dominates batting average and that...

Age effects in baseball are estimated in this paper using a nonlinear fixed-effects regression. The sample consists of all players who have played 10 or more "full-time" years in the major leagues between 1921 and 2004. Quadratic improvement is assumed up to a peak-performance age, which is...