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Jeremy Horne
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  • London
  • United Kingdom
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  • Timothy McWilliams
  • Berkay Adlim

Jeremy Horne's Discussions

Diminishing returns in econometrics

Started this discussion. Last reply by Timothy McWilliams Oct 18. 4 Replies

I was wondering if anyone here has much experience in building econometric models - specifically in calculating diminishing returns as there are tonnes of different ways to go about this. For…Continue

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Jeremy Horne and Berkay Adlim are now friends
Wednesday
Timothy McWilliams and Jeremy Horne are now friends
Oct 24
Vincent Granville liked Jeremy Horne's discussion Diminishing returns in econometrics
Oct 18
Timothy McWilliams replied to Jeremy Horne's discussion Diminishing returns in econometrics
"Hi Soodi,  The grid search will take each set of parameters and fit the model.  Then you can print out a few measures or the best one you think. There are a few different measures you could use. You can use the accuracy, R-squared, AIC,…"
Oct 18
Soodi Milanlouei replied to Jeremy Horne's discussion Diminishing returns in econometrics
"Hi Timothy --  When you use the grid search, what criteria do you usually use to specify the best values for the parameters? "
Oct 18
Jeremy Horne replied to Jeremy Horne's discussion Diminishing returns in econometrics
"Thanks Timothy - and for the R tip too - which is my language of choice! I will have a look at this next week and let you know if I have any more questions."
Oct 18
Timothy McWilliams replied to Jeremy Horne's discussion Diminishing returns in econometrics
"Hi Jeremy,  I have worked on a project just like this one. Our statement was, holding other factors constant, increasing the amount of media spend in your budget will increase x up to a certain point. It will get to a point where…"
Oct 17
Jeremy Horne's discussion was featured

Diminishing returns in econometrics

I was wondering if anyone here has much experience in building econometric models - specifically in calculating diminishing returns as there are tonnes of different ways to go about this. For simplicity, I have previously used an exponential decay (e to the power of -(a.x) where a is the rate of diminishing returns and x is the rate of media spend - but there are many other ways to model this (e.g. Linear log models, Multiplicative Competitive Interaction) and I'd be interested to hear of…See More
Oct 15

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Professional Status
Manager
Years of Experience:
10
Your Company:
MEC Global Solutions
Industry:
Media Agency
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