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Profiling problems with partially identified structure

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  • Brock,W.A.

    (University of Wisconsin-Madison, Social Systems Research Institute)

Abstract

This article studies two classes of profiling problems where the relevant structural inputs to the problems may be only partially identified: that where profilees are not 'strategic' in altering their characteristics and that where profilees strategically alter their characteristics at a cost. The analysis is unified by assuming there is a utilitarian planner that attempts to optimise the sum of welfare. We compare maximin solutions and minimax-regret solutions in two contexts. An unexpected feature of the minimax-regret solution is that a minimax-regret planner may end up learning unknown features of the population it faces rather quickly relative to a maximin planner. Copyright 2006 The Author(s). Journal compilation Royal Economic Society 2006.
(This abstract was borrowed from another version of this item.)

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  • Brock,W.A., 2004. "Profiling problems with partially identified structure," Working papers 21, Wisconsin Madison - Social Systems.
  • Handle: RePEc:att:wimass:200421
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    File URL: http://www.ssc.wisc.edu/econ/archive/wp2004-21.pdf
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    References listed on IDEAS

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    1. Truman F. Bewley, 1987. "Knightian Decision Theory, Part II. Intertemporal Problems," Cowles Foundation Discussion Papers 835, Cowles Foundation for Research in Economics, Yale University.
    2. Truman F. Bewley, 1986. "Knightian Decision Theory: Part 1," Cowles Foundation Discussion Papers 807, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:

    1. William A. Brock & Steven N. Durlauf, 2015. "On Sturdy Policy Evaluation," The Journal of Legal Studies, University of Chicago Press, pages 447-473.
    2. Brock, William A. & Durlauf, Steven N. & Nason, James M. & Rondina, Giacomo, 2007. "Simple versus optimal rules as guides to policy," Journal of Monetary Economics, Elsevier, pages 1372-1396.
    3. Iverson, Terrence, 2012. "Communicating Trade-offs amid Controversial Science: Decision Support for Climate Policy," Ecological Economics, Elsevier, vol. 77(C), pages 74-90.
    4. William A. Brock & Charles F. Manski, 2008. "Competitive Lending with Partial Knowledge of Loan Repayment," NBER Working Papers 14378, National Bureau of Economic Research, Inc.
    5. Brock, William A. & Cooley, Jane & Durlauf, Steven N. & Navarro, Salvador, 2012. "On the observational implications of taste-based discrimination in racial profiling," Journal of Econometrics, Elsevier, pages 66-78.
    6. Stoye, Jörg, 2009. "Minimax regret treatment choice with finite samples," Journal of Econometrics, Elsevier, pages 70-81.
    7. Brock,W.A. & Durlauf,S.N., 2004. "Macroeconomics and model uncertainty," Working papers 20, Wisconsin Madison - Social Systems.
    8. William A. Brock & Steven N. Durlauf & James M. Nason & Giacomo Rondina, 2007. "Simple versus optimal rules as guides to policy," FRB Atlanta Working Paper 2007-07, Federal Reserve Bank of Atlanta.
    9. Iverson, Terrence, 2013. "Minimax regret discounting," Journal of Environmental Economics and Management, Elsevier, vol. 66(3), pages 598-608.
    10. Charles F. Manski, 2006. "Search Profiling With Partial Knowledge of Deterrence," Economic Journal, Royal Economic Society, vol. 116(515), pages 385-401, November.
    11. Stoye, Jörg, 2012. "Minimax regret treatment choice with covariates or with limited validity of experiments," Journal of Econometrics, Elsevier, pages 138-156.

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