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Using wrong statistical models

By David Azriel
Location Bloomfield 727
Academic Program:
Sunday 21 May 2017, 11:30 - 12:30

Statistical models in economics, biology, and most other areas, are not expected to be correct, and often are not very accurate. It turns out, however, that wrong statistical models are often very "useful". In those cases, one must take into account that the models are wrong. In this talk I will discuss the use of linear regression model in a non-linear situation, and also the use of wrong Markov models to predict choices in experimental game theory.