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Persistent link: https://www.econbiz.de/10012256683
Journals favor rejection of the null hypothesis. This selection upon tests may distort the behavior of researchers. Using 50,000 tests published between 2005 and 2011 in the AER, JPE, and QJE, we identify a residual in the distribution of tests that cannot be explained by selection. The...
Persistent link: https://www.econbiz.de/10010293191
In this paper we derive the nite-sample distribution of the esti- mated weights of the tangency portfolio when both the population and the sample covariance matrices are singular. These results are used in the derivation of a statistical test on the weights of the tangency port- folio where the...
Persistent link: https://www.econbiz.de/10012654429
Journals favor rejection of the null hypothesis. This selection upon tests may distort the behavior of researchers. Using 50,000 tests published between 2005 and 2011 in the AER, JPE, and QJE, we identify a residual in the distribution of tests that cannot be explained by selection. The...
Persistent link: https://www.econbiz.de/10011163474
The classical binary classification problem is investigated when it is known in advance that the posterior probability function (or regression function) belongs to some class of functions. We introduce and analyze a method which effectively exploits this knowledge. The method is based on...
Persistent link: https://www.econbiz.de/10005572603
Minimax lower bounds for concept learning state, for example, that for each sample size $n$ and learning rule $g_n$, there exists a distribution of the observation $X$ and a concept $C$ to be learnt such that the expected error of $g_n$ is at least a constant times $V/n$, where $V$ is the VC...
Persistent link: https://www.econbiz.de/10005772365
This paper studies the problem of treatment choice between a status quo treatment with a known outcome distribution and an innovation whose outcomes are observed only in a representative finite sample. I evaluate statistical decision rules, which are functions that map sample outcomes into the...
Persistent link: https://www.econbiz.de/10008625835
Persistent link: https://www.econbiz.de/10014436053
This paper presents estimates from a latent variables model of the relation between corporate governance and financial performance. We use data on large US corporations to estimate the correlation, conditional on the firms' investment opportunity set, between governance and performance. We find...
Persistent link: https://www.econbiz.de/10010235838
Persistent link: https://www.econbiz.de/10010190872