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econ.EM2026
Axiomatizing Local Asymptotic Minimax Risk
Ricky Li
Local asymptotic minimax (LAM) risk is a foundational efficiency criterion in statistics and econometrics. The literature uses two definitions of LAM risk: one which appears in cla…
econ.EM2026
Misspecification-Averse Estimation
Isaiah Andrews, Ricky Li, Yucheng Shang
We study optimal estimation when the likelihood may be misspecified. Building on tools from the theory of decision-making under uncertainty, we analyze a class of axiomatically gro…