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Ulric B. and Evelyn L. Bray Social Sciences Seminar

Wednesday, November 3, 2021
4:00pm to 5:00pm
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Baxter Lecture Hall
Evaluating Economic Models
Drew Fudenberg, Paul A. Samuel Professor of Economics, MIT,

Abstract: This talk will discuss two related papers that use machine learning as a complement to theoretical modeling, rather than a substitute for it. The key concepts are completeness, which compares how well a model predicts to the "best possible" predictions, and restrictiveness, which measures a theory's ability to match arbitrary hypothetical data: A very unrestrictive theory will be complete on almost any data.

For more information, please contact Letty Diaz by phone at 626-395-1255 or by email at letty.diaz@caltech.edu.