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Big Data and Minimum Wage
Paper details:
SO, this paper is worth 20% of my grade and the teacher and I have butted heads the entire semester. I want to kill it with this paper but need a boost. The paper is supposed to focus on a proposal and analyze whether higher minimum wages alleviate income inequality problems or not. He reiterates again, “you need to show how you will empirically test whether higher minimum wages alleviate income inequality problems or not”.
Please read the document attached accordingly. The paper will be reviewed first thing at 10 am and hope you will be by in case I need some corrections.
We also had to read the book Everybody Lies by Seth Stephens-Davidowitz in which I found some information or you to incorporate into the paper with the outside sources (you do not have to use all of this, just whatever helps).
-A doppelgänger search is another example of zooming in. It zooms in on the small subset of people most similar to a given person.
-The fourth power of Big Data: it makes randomized experiments, which can find truly casual effects. Randomized controlled experiments have been renamed “A/B testing”
-Regression continuity
-Seth talks about “the curse of dimensionality”, it occurs whenever you have a lot of variables (or “dimensions”)
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