X hits on this document

159 views

0 shares

0 downloads

0 comments

12 / 39

Wharton

Department of Statistics

12

Auctions and Over-fitting

Auction jar of coins to a class of MBA students

Histogram shows the bids of 30 students

Most were suspicious, but a few were not!

Actual value is $3.85

Known as “Winner’s Curse”

Similar to over-fitting: best model like high bidder

Document info
Document views159
Page views159
Page last viewedSun Jan 22 03:36:47 UTC 2017
Pages39
Paragraphs586
Words1669

Comments