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4min chapter
A Nobel laureate on the limits of evidence-based policy
Chicago Booth Review Podcast
The Potential Role of Machine Learning in Economic Analysis
This chapter explores the potential of machine learning in analyzing large amounts of data and its impact on ideological frameworks. While machine learning offers clever algorithms for pattern recognition, it is primarily used for short-term forecasting rather than addressing fundamental policy questions. The chapter suggests integrating machine learning tools with economic frameworks to enhance economic analysis.
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