Transcription of The Impact of Machine Learning on Economics
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The Impact of Machine Learning on Economics
The Impact of Machine Learning on EconomicsSusan version January 2018 AbstractThis paper provides an assessment of the early contributions of Machine Learning to Economics , aswell as predictions about its future contributions. It begins by briefly overviewing some themesfrom the literature on Machine Learning , and then draws some contrasts with traditional approachesto estimating the Impact of counterfactual policies in Economics . Next, we review some of the initial off-the-shelf applications of Machine Learning to Economics , including applications in analyzingtext and images. We then describe new types of questions that have been posed surrounding theapplication of Machine Learning to policy problems, including prediction policy problems, as wellas considerations of fairness and manipulability. We present some highlights from the emergingeconometric literature combining Machine Learning and causal inference.
The Impact of Machine Learning on Economics Susan Athey athey@stanford.edu Current version January 2018 Abstract This paper provides an assessment of the early contributions of machine learning to economics, as
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