Big Data

Using a rapidly growing wealth of consumer and business data to improve decision-making
BFI: Big Data Initiative

Faculty Directors

Stéphane Bonhomme, Professor of Economics, Department of Economics 

Ali Hortaçsu, the Ralph and Mary Otis Isham Professor in Economics and the College   

Azeem Shaikh, Professor of Economics, Department of Economics

Description 

Modern businesses, from banks and online retailers to social media platforms and search engines, are amassing a wealth of consumer data that is unprecedented in terms of both size and level of detail. Commonly referred to as “big data,” this newfound and rapidly growing wealth of information is dramatically changing markets. However, the fact that so much data is collected and privately-owned raises important new questions about the use of such data by businesses and government, its potential benefits and costs, and the role for regulations regarding its use.

This initiative explores the ability of big data to improve business decision-making, from pricing and market design to supply and demand forecasting. Equally important, the Big Data Initiative supports rigorous, cutting-edge research to answer a wide range of fundamental policy and regulatory questions to help inform this rapidly evolving field.

Affiliated Scholars

Max Farrell, Assistant Professor of Econometrics and Statistics, Booth School of Business 

Guillaume Pouliot, Assistant Professor, Harris School of Public Policy

Alexander Torgovitsky, Assistant Professor of Economics and the College, Department of Economics

Features

Q&A with Big Data Co-Director Stéphane Bonhomme

Research

A Distributional Framework for Matched Employer Employee Data, Stéphane Bonhomme, Thibaut Lamadon, and Elena Manresa 

Discretizing Unobserved Heterogeneity, Stéphane Bonhomme, Thibaut Lamadon, and Elena Manresa

The Wild Bootstrap with a “Small” Number of “Large” Clusters, Ivan A. Canay, Andres Santos, Azeem M. Shaikh

Instrumental Variables and the Sign of the Average Treatment Effect, Cecilia Machado, Azeem M. Shaikh, Edward J. Vytlacil

Inference Under Covariate-Adaptive Randomization with Multiple Treatments, Federico A. Bugni, Ivan A. Canay, Azeem M. Shaikh 

Multiple Hypothesis Testing in Experimental Economics, John A. List, Azeem M. Shaikh, Yang Xu

Inference Under Covariate-Adaptive Randomization with Multiple Treatments, Federico A. Bugni, Ivan A. Canay, Azeem M. Shaikh 

The Econometrics of Shape Restrictions, Denis Chetverikov, Andres Santos, Azeem M. Shaikh