Robustness in Economics and Econometrics Conference

April 5–6, 2019

(All day)

University of Chicago, Saieh Hall for Economics, Room 021 | 5757 S. University Ave
Hosted By:

 

Models are essential inputs to economic analysis. Yet, an economic model is at best only an approximation to a complex social reality. Economists have approached the issue of model misspecification from two perspectives. A first approach considers how agents within an economic model deal with the possibility that their model of the world may be wrong. A second approach studies how existing econometric techniques for the analysis and interpretation of data must be modified when the model is misspecified. In both settings, robust decision making requires the economic agent or the econometrician to explicitly allow for the risk of misspecification. The aim of the conference, "Robustness in Economics and Econometrics," is to bring together researchers engaged in these two modeling approaches.

 

Program

Friday, April 5, 2019

(Asterisk indicates presenter.)
8:00am – 9:00am                 

Registration and Breakfast

9:00am – 9:05am                   

Welcoming Remarks

9:05am – 10:05am           

Assessing Misspecification and Aggregation for Structured Preferences
*Roy Allen, Western University
John Rehbeck, Ohio State University
Discussant: Fernando Alvarez, University of Chicago

10:05am – 11:05am               

“Belief Heterogeneity with Uninsurable Risks”
*Jaroslav Borovicka, New York University and the Federal Reserve Bank of Minneapolis 
Anmol Bhandari, University of Minnesota
Jonathan Payne, NYU
Discussant: Jose Scheinkman, Columbia University

11:05am – 11:20am               

Break

11:20am – 12:20pm            

Self-justified Equilibria: Existence and Computation
*Felix Kubler, University of Zurich
Simon Scheidegger, HEC Lausanne
Discussant: Thomas Winberry, University of Chicago Booth

12:30pm – 1:30pm                

 Lunch

1:30pm – 2:30pm                   

Sensitivity and Informativeness under Local Misspecification
*Isaiah Andrews, Harvard University
Matthew Gentzkow, Stanford University
Jesse Shapiro, Brown University
Discussant: Jinyong Hahn, UCLA

2:30pm – 3:30pm                 

Estimation under Ambiguity
*Toru Kitagawa, University College London
Raffaella Giacomini, University College London
Harald Uhlig, University of Chicago
Discussant: Stephane Bonhomme, University of Chicago

3:30pm – 3:45pm                  

Break

3:45pm – 4:45pm                

Structured Uncertainty and Model Misspecification
*Thomas Sargent, New York University
Lars Hansen, University of Chicago
Discussant: Xiaohong Chen, Yale University

Saturday, April 6

8:15am – 9:00am                   

Registration and Breakfast

9:00am – 10:00am               

Statistical Reports for Remote Agents
*Jesse Shapiro, Brown University
Isaiah Andrews, Harvard University
Discussant: Jann Spiess, Microsoft Research

10:00am – 11:00am            

Sensitivity Analysis using Approximate Moment Condition Models
*Michal Kolesar, Princeton University
Timothy B. Armstrong, Yale University
Discussant: Bruce Hansen, University of Wisconsin

11:00am – 11:15am             

Break

11:15am – 12:15pm               

“Robust Dynamic Utility”
*Massimo Marinacci, Bocconi University
Discussant: Lars Peter Hansen, University of Chicago

12:15pm – 1:15pm          

Lunch

1:15pm – 2:15pm                   

“Counterfactual Sensitivity and Robustness”
*Tim Christensen, New York University
Benjamin Connault, IEX Group
Discussant: Jack Porter, University of Wisconsin-Madison

2:15pm – 2:30pm                   

Break

2:30pm – 3:30pm                   

Minimizing Sensitivity to Model Misspecification
*Martin Weidner, University College London
Stephane Bonhomme, University of Chicago
Discussant: Kirill Evdokimov, MIT

April 5, 2019 (All day) April 6, 2019 (All day)
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