Application of variable selection techniques to a modified SAIS for generating practical scorecards

Leung, Kevin; Cheong, F; O'Farrell, S; Tissington, R

doi:10.1504/ijads.2009.027930

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Figure 1 Objective and Subjective Probability Distribution O...1

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2013

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“…Examples are job interviews (Yousefpoor & Meisel, 2012), auctions (Ray et al, 2010), or others (Leung et al, 2009;Michalopoulos et al, 2009). The scoring rule in our case is an objective function which is maximized for the true probability p (see Schanbacher, 2013 for a discussion of the log-score).…”

Section: Figure 1 Objective and Subjective Probability Distribution O...mentioning

confidence: 99%

Why Uninformed Agents (Pretend to) Know More

Schanbacher

2013

International Journal of Strategic Decision Sciences

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Many social interactions (examples are market overreactions, high rates of acquisitions, strikes, wars) are the result of agents' overconfidence. Agents are in particular overconfident for difficult tasks. This paper analyzes overconfidence in the context of a statistical estimation problem. The authors find that it is rational to (i) be overconfident and (ii) to be notably overconfident if the task is difficult. The counterintuitive finding that uninformed agents which should be the least confident ones show the highest degree of overconfidence can be explained as a rational behavior.

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Section: Figure 1 Objective and Subjective Probability Distribution O...mentioning

confidence: 99%

Why Uninformed Agents (Pretend to) Know More

Schanbacher

2013

International Journal of Strategic Decision Sciences

View full text Add to dashboard Cite

show abstract

Application of variable selection techniques to a modified SAIS for generating practical scorecards

Cited by 1 publication

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Why Uninformed Agents (Pretend to) Know More

Why Uninformed Agents (Pretend to) Know More

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