Econometrics is an empirical of economics that applies mathematical and statistical models with economic theories to understand, explain and measure causality in economic systems, strategic decisions, the tech industry, and business.
The difference-in-differences method is a quasi-experimental approach that compares the changes in outcomes over time between a population enrolled in a program (the treatment group) and a population that is not (the comparison group). It is a useful tool for data analysis.
Regression Discontinuity Design (RDD) is a quasi-experimental evaluation option that measures the impact of an intervention, or treatment, by applying a treatment assignment mechanism based on a continuous eligibility index which is a variable with a continuous distribution.
The propensity score is the probability of treatment assignment conditional on observed baseline characteristics. The propensity score allows one to design and analyze an observational (nonrandomized) study so that it mimics some of the particular characteristics of a randomized controlled trial. In particular, the propensity score is a balancing score: conditional on the propensity score, the distribution of observed baseline covariates will be similar between treated and untreated subjects.
Survival Analysis is a field of statistical tools used to assess the time until an event occurs. As the name implies, this “event” could be death (of humans with a particular disease process, crops or plants under certain conditions, animals, etc.), but it also could be any number of alternatives (the failure of a structural beam or engineering component, the reoccurrence of a disease process, customer churn rate, etc.).
Data Exploration and Numerical Experimentation is licensed under a Creative Commons Attribution 4.0 International License.
