Stefan Wager: Treatment Effects in Market Equilibrium
"Treatment Effects in Market Equilibrium" (joint work with Evan Munro and Kuang Xu)
Stefan Wager, Stanford University
Discussant: Fredrik Sävje, Yale University
Abstract: In order to evaluate social and economic policy, it is important to measure policy effects within a market economy, where individuals interact by buying and selling various goods at the prevailing market price. In this setting, there is a direct policy effect on individual outcomes, and an indirect effect through resulting changes in equilibrium prices, which makes inference through standard randomized trials impossible. We define a stochastic general equilibrium model where interference occurs only through the equilibrium price and find that, in the mean field limit, non-parametrically defined direct and indirect treatment effects of small price changes converge to estimable elasticities with respect to prices and policy. We then show how to design a single-market experiment that enables us to estimate the total policy effect.
June 22, 2021
Видео Stefan Wager: Treatment Effects in Market Equilibrium канала Online Causal Inference Seminar
Stefan Wager, Stanford University
Discussant: Fredrik Sävje, Yale University
Abstract: In order to evaluate social and economic policy, it is important to measure policy effects within a market economy, where individuals interact by buying and selling various goods at the prevailing market price. In this setting, there is a direct policy effect on individual outcomes, and an indirect effect through resulting changes in equilibrium prices, which makes inference through standard randomized trials impossible. We define a stochastic general equilibrium model where interference occurs only through the equilibrium price and find that, in the mean field limit, non-parametrically defined direct and indirect treatment effects of small price changes converge to estimable elasticities with respect to prices and policy. We then show how to design a single-market experiment that enables us to estimate the total policy effect.
June 22, 2021
Видео Stefan Wager: Treatment Effects in Market Equilibrium канала Online Causal Inference Seminar
Показать
Комментарии отсутствуют
Информация о видео
25 июня 2021 г. 11:43:47
01:03:08
Другие видео канала
Tim Morrison: Optimality in multivariate tie-breaker designs
Sam Pimentel: Optimal tradeoffs in matched designs
Hyunseung Kang: Transfer Learning Between U.S. Presidential Elections
Elizabeth Ogburn: Social network dependence, unmeasured confounding, and the replication crisis
Anish Agarwal: On Causal Inference with Temporal and Spatial Spillovers in Panel Data
Sara Magliacane: Domain adaptation by using causal inference
Interview with Philip Dawid
Nicola Gnecco: Causal Discovery in Heavy-Tailed Models
Carlos Cinelli: Transparent and Robust Causal Inference in the Social and Health Sciences
Qingyuan Zhao: Selection Bias in 2020
Donald Green: Using Placebo-Controlled Designs to Detect Edutainment Effects and Spillovers
AmirEmad Ghassami: Combining Experimental and Observational Data for Long-Term Causal Effects
Kun Zhang: Methodological advances in causal representation learning
Fan Li: Causal Mediation Analysis for Sparse and Irregular Longitudinal Data
Thijs van Ommen: Graphical Representations for Algebraic Constraints of Linear Structural Models
Alex Luedtke: Adversarial Monte Carlo Meta-Learning of Conditional Average Treatment Effects
Caroline Uhler: Causal inference in the light of drug repurposing for COVID-19
Bin Yu: Predictability, stability, and causality with case study of genetic drivers of heart disease
David Blei: The Deconfounder: What is it? What is its theory? Is it useful?
Marloes Maathuis: Combining causal structure learning and covariate adjustment