Axiomatic arguments for decomposing goodness of fit according to Shapley and Owen values

By Frank Huettner, M. Sunder. 2012

198 citations recorded by the source corpus.

We advocate the decomposition of goodness of t into contri- butions of (groups of) regressor variables according to the Shapley value or|if regressors are exogenously grouped|the Owen value because of the attractive axioms associated with these values. A wage regression model with German data illustrates the method.

Subfields: Economics and Econometrics, Sociology and Political Science, Statistics and Probability

View Paper: https://www.semanticscholar.org/paper/5137998257e74c79552bc930274f77179630c477

How researchers see this paper

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In Economics and Econometrics

1. Godefroy Grosjean
2. Ottmar Edenhofer
3. Sabine Fuss
4. Graziano Abrate
5. Nicolas Koch
6. G. Viglia

In Sociology and Political Science

1. G. Viglia
2. Ottmar Edenhofer
3. Graziano Abrate

In Statistics and Probability

1. Godefroy Grosjean
2. Ottmar Edenhofer
3. Sabine Fuss
4. Graziano Abrate
5. Nicolas Koch
6. G. Viglia

Citations in the corpus

• Causes of the EU ETS price drop: Recession, CDM, renewable policies or a bit of everything? - New evidence (2014, background): “…finding, Figure 2 shows a decomposition of the R 2 into contributions of the different marginal abatement cost drivers (based on Shapley values, see Huettner and Sunder, 2012): approximately 40% of the explanatory power of the model can be attributed to variations in economic conditions and around…”
• Strategic and tactical price decisions in hotel revenue management (2016, background): “This concept can be extended to estimate the contribution of a single variable to a statistical indicator of goodness-of-fit of the adopted model, such as the R-squared (Huettner and Sunder, 2012; Shorrocks, 2013).”
• The shifting drivers of global liquidity (2020, unknown): “…23.22 42.00 9.82 71.09 83.48 59.86 Local 76.78 58.00 90.18 28.91 16.52 40.14 Total global 52.48 58.58 50.57 78.00 87.45 66.69 Total local 47.52 41.42 49.43 22.00 12.55 33.31 Notes: The table contains the Shapley values calculated following the methodology developed in Huettner and Sunder (2012).”
• Understanding the agricultural input landscape in Sub-Saharan Africa : recent plot, household, and community-level evidence (2014, unknown): “We then calculate Shapley values which decompose the explained variance (measured by R(2)) of those regressions into contributions over particular groups of regressors (Huettner and Sunder 2012).”