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I study individuals who use frequentist models to draw uniform inferences from independent and identically distributed data. The main contribution of this paper is to show that distinct models may be consistent with empirical evidence, even in the limit when data increases without bound....
Persistent link: https://www.econbiz.de/10008518843
We show that a simple "reputation-style" test can always identify which of two experts is informed about the true distribution. The test presumes no prior knowledge of the true distribution, achieves any desired degree of precision in some fixed finite time, and does not use "counterfactual"...
Persistent link: https://www.econbiz.de/10005231520
Persistent link: https://www.econbiz.de/10005170298