Cosma Shalizi - Why Economics Needs Data Mining

The video discusses a grant project on model complexity and prediction error in macroeconomic forecasting. It highlights the issues of overfitting in economic models and the use of Rademacher complexity to address these issues. The speaker critiques the shift from data-driven to theory-driven economics and explores the role of data mining and machine learning in economic modeling. The speaker also shares personal insights into their background and engagement with economists.

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