What data scientists can learn from economists?

I recently came across a pair of articles (part 1 and 2) that generalize the ideas behind the ROC plot into a broader framework for model selection driven by economics. This is part of a broader topic that deserves a lot of attention, but is usually left out of the discussion altogether. In fact, the ability to “think like an economist” is an absolutely essential skill most data scientists should have, and it can be learned. Remember that to …

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