new wine in new bottles? the fermentation of behavioral ... · palladium corporate presentation ....
TRANSCRIPT
© Palladium 2017 © This material is the copyright of Palladium
Dr. Robert Wuertz
May 17, 2018
New Wine in New Bottles? The Fermentation of Behavioral Economics in PFM
© Palladium 2017
Introduction
Palladium Corporate Presentation
What’s DRM?
What’s it got to do with wine?
© Palladium 2017
Overview
Palladium Corporate Presentation
Is use of behavioral economics new?
Is big data new?
Where big data breaks out
Predictions: where is this taking us?
© Palladium 2017
What can we expect from behavioral economics?
Is behavioral economics new?
Palladium Corporate Presentation
Guatemala study
Evidence from El Salvador
© Palladium 2017
• Historical example of big data • Computer Assisted Mass Appraisal
• Exploratory data analysis
Is big data new?
Palladium Corporate Presentation
© Palladium 2017
How big data can strengthen behavioral economics?
Predictive data mining
Could it help in Guatemala?
And from there?
The IRS foreshadows the future
Where big data breaks out: traditional
Palladium Corporate Presentation
© Palladium 2017
IRS • Internal data bases, • Commercial sources
(Facebook, MySpace, YouTube)
Sources of data
Palladium Corporate Presentation
Jamaica • Internal data bases • Telecommunications
data
© Palladium 2017
Sources of data
Palladium Corporate Presentation
IRS uses big data for: • Charting and analyzing social media
• Targeting audits by matching tax filings to social media or electronic
payments
• Tracking individual Internet addresses and emailing patterns
• Sorting data in 32,000 categories of metadata and 1 million unique “attributes”
• Machine learning across “neural” networks
• Statistical and agent-based modeling
• Relationship analysis based on Social Security numbers
© Palladium 2017
Other sources of data: Mobile devices
Software logs
Radio-frequency identification readers, and
Wireless sensor networks
Where big data breaks out: fiscal space
Palladium Corporate Presentation
Indonesia
© Palladium 2017
• How the financial industry uses big data
The private sector foreshadows the future
Palladium Corporate Presentation
© Palladium 2017
• Privacy • Ethical issues
The downside of big data
Palladium Corporate Presentation
© Palladium 2017
Is behavioral economics new wine? What’s the vote?
Big data can inform behavioral economics
And the future is…
Conclusions
Palladium Corporate Presentation
© Palladium 2017
Questions?
Palladium Corporate Presentation
© Palladium 2017 © This material is the copyright of Palladium thepalladiumgroup.com