论文标题
这种功能形式的灵活性有多灵活？量化理论的限制
How Flexible is that Functional Form? Quantifying the Restrictiveness of Theories
论文作者
论文摘要
我们基于对经济模型的限制性度量，该措施是根据它们从预定阶段的合成数据拟合的程度。该度量以及对模型对真实数据的拟合程度的措施，概述了帕累托前沿，其中排除更多规律性但捕获实际数据中存在的规律性的模型是首选的。为了说明我们的方法，我们评估了在两个实验室环境中流行模型的限制性 - 确定性等效和初始游戏 - 在一个现场环境中 - 在印度村庄的小额信贷中使用。限制性度量揭示了有关每个模型的新见解，包括一些只有少数参数的经济模型非常灵活。
We propose a restrictiveness measure for economic models based on how well they fit synthetic data from a pre-defined class. This measure, together with a measure for how well the model fits real data, outlines a Pareto frontier, where models that rule out more regularities, yet capture the regularities that are present in real data, are preferred. To illustrate our approach, we evaluate the restrictiveness of popular models in two laboratory settings -- certainty equivalents and initial play -- and in one field setting -- takeup of microfinance in Indian villages. The restrictiveness measure reveals new insights about each of the models, including that some economic models with only a few parameters are very flexible.
