Paper ID: 2306.13681

Estimating the Value of Evidence-Based Decision Making

Alberto Abadie, Anish Agarwal, Guido Imbens, Siwei Jia, James McQueen, Serguei Stepaniants

Business/policy decisions are often based on evidence from randomized experiments and observational studies. In this article we propose an empirical framework to estimate the value of evidence-based decision making (EBDM) and the return on the investment in statistical precision.

Submitted: Jun 21, 2023