Causation versus Correlation - Tools and Solutions from Economics
Presented by Mungo Wilson (Oxford University - Said Business School)
Date: Monday 13 July 2020
Time: 14.00 BST
This talk will give a brief overview of the statistics of causation and the solutions developed over the decades in the field of economics, many of which are more widely relevant. I will explain how, in the absence of randomized controlled trials, methods such as instrumental variables and differences-in-differences can still be used to estimate causal relationships in data. I will give examples from business, economics, and public health among other areas.
Mungo Wilson is associate professor of financial economics at Oxford University’s Said Business School, where he has taught MBAs for over ten years. His research has mainly been relating high average returns observed at certain times in global stock markets to theories about the determinants of expected returns on stocks. He is a director of the Edinburgh World Investment Trust, a fund investing in businesses with strong and disruptive growth potential, and of Salty, an early stage growth company in the USA pioneering new solutions in insurance. Prior to coming to Oxford, he has spent time at the London School of Economics and at the Hong Kong University of Science & Technology after completing his Ph.D. in Economics at Harvard University.