Is more data better?

K  Mitra

doi:10.1016/j.jebo.2003.03.006

Is more data better?

K Mitra

Research output: Contribution to journal › Article › peer-review

5 Citations (Scopus)

Abstract

Conventional wisdom usually suggests that agents should use all the data they have to make the best possible prediction. In this paper, it is shown that agents may make better predictions by discarding old data if their model is mis-specified. The applicability of the results to some economic models is also demonstrated. (C) 2004 Elsevier B.V. All rights reserved.

Original language	English
Pages (from-to)	263-272
Number of pages	10
Journal	Journal of Economic Behavior and Organization
Volume	56
Issue number	2
DOIs	https://doi.org/10.1016/j.jebo.2003.03.006
Publication status	Published - Feb 2005

Keywords

optimal
mean squared error
bounded memory
EXPECTATIONS

Access to Document

10.1016/j.jebo.2003.03.006

Cite this

@article{b4942b38e9ea46b0bb416f2f6ed77600,

title = "Is more data better?",

abstract = "Conventional wisdom usually suggests that agents should use all the data they have to make the best possible prediction. In this paper, it is shown that agents may make better predictions by discarding old data if their model is mis-specified. The applicability of the results to some economic models is also demonstrated. (C) 2004 Elsevier B.V. All rights reserved.",

keywords = "optimal, mean squared error, bounded memory, EXPECTATIONS",

author = "K Mitra",

year = "2005",

month = feb,

doi = "10.1016/j.jebo.2003.03.006",

language = "English",

volume = "56",

pages = "263--272",

journal = "Journal of Economic Behavior and Organization",