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Estimating the Value of Evidence-Based Decision Making

Author

Listed:
  • Alberto Abadie
  • Anish Agarwal
  • Guido Imbens
  • Siwei Jia
  • James McQueen
  • Serguei Stepaniants

Abstract

Business/policy decisions are often based on evidence from randomized experiments and observational studies. In this article we propose an empirical framework to estimate the value of evidence-based decision making (EBDM) and the return on the investment in statistical precision.

Suggested Citation

  • Alberto Abadie & Anish Agarwal & Guido Imbens & Siwei Jia & James McQueen & Serguei Stepaniants, 2023. "Estimating the Value of Evidence-Based Decision Making," Papers 2306.13681, arXiv.org, revised Sep 2023.
    • Handle: RePEc:arx:papers:2306.13681
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    References listed on IDEAS

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    1. Roger Koenker & Ivan Mizera, 2014. "Convex Optimization, Shape Constraints, Compound Decisions, and Empirical Bayes Rules," Journal of the American Statistical Association, Taylor & Francis Journals, vol. 109(506), pages 674-685, June.
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