An Experimental Evaluation of Regret-Based Econometrics

@inproceedings{Nisan2017AnEE,
  title={An Experimental Evaluation of Regret-Based Econometrics},
  author={Noam Nisan and Gali Noti},
  booktitle={WWW},
  year={2017}
}
Using data obtained in a controlled ad-auction experiment that we ran, we evaluate the regret-based approach to econometrics that was recently suggested by Nekipelov, Syrgkanis, and Tardos (EC 2015). We found that despite the weak regret-based assumptions, the results were (at least) as accurate as those obtained using classic equilibrium-based assumptions. En route we studied to what extent humans actually minimize regret in our ad auction, and found a significant difference between the “high… CONTINUE READING
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