Statistical Decision-Making Models and Treatment Effects
23 Pages Posted: 20 Aug 2004
Date Written: August 2, 2004
Statistical models are better at prediction than intuitive judgment. However, in certain situations an expert's judgment may have a large effect on outcomes, for example expert witnesses testifying in court. Building statistical models from outcome data affected by such judgments requires adjustments for treatment effects. We present an example of how to model and bound such treatment effects when data from the comparison group is not available.
Keywords: Treatment effects, actuarial models, non-experimental methods, bounding analysis
JEL Classification: C15, C82, C99
Suggested Citation: Suggested Citation