5 papers
Policy Learning with Network-Shaping Assignments
Zhenxiao Chen, Zhiheng You
Many policies determine social arrangements whose effects depend on the relationships formed afterwards. We study how to learn such policies when a constrained joint action changes…
Variance or Standard Deviation? Shell Geometry and Global-Scale Priors in High-Dimensional Shrinkage
Wayne Yuan Gao, Zhiheng You
We study how the choice of default prior for a common Gaussian scale affects high-dimensional shrinkage risk, highlighting the role played by high-dimensional geometry. Formally, w…
Could It Have Fit Anything? Restrictiveness of Economic Models, LLMs, and AI Workflows
Drew Fudenberg, Wayne Yuan Gao, Zhiheng You
How much does a prediction procedure rule out when its model class is unspecified? We extend restrictiveness from economic models to black-box procedures by measuring how well they…
Using Prior Studies to Design Experiments: An Empirical Bayes Approach
Zhiheng You
We develop an empirical Bayes framework for experimental design that leverages information from prior related studies. When a researcher has access to estimates from previous studi…
How Well Are State-Dependent Local Projections Capturing Nonlinearities?
Zhiheng You
We use quadratic vector autoregressions, motivated by pruned second-order perturbation solutions to DSGE models, as a laboratory to evaluate how well popular local projection (LP)…