Every year, the University of Amsterdam hosts the Econometric Game, one of the most prestigious projects organized by the study association for Actuarial Science, Econometrics & Operational Research (VSAE) of the University of Amsterdam. The participating universities are selected and expected to send delegations of four students majoring in econometrics or relevant studies with a maximum of two PhD students. The teams will be given a case study, which they will have to resolve in two days. After these two days, the ten teams with the best solutions will continue to the third day. On the third day, the finalists have to solve the second case. The solutions will be reviewed by a jury of qualified and independent professors and they will announce the winner of the Game during the award ceremony on Friday.
For the past nineteen years, the event has evolved from a one-day city contest between the University of Amsterdam and the VU University Amsterdam into an international three-day competition. During the Econometric Game, Amsterdam is proud to host teams from the world’s best universities in the field of econometrics. The competition challenges the most talented econometricians to think outside the box in order to solve existing, as well as new, societal problems. Over the years the event has grown and obtained worldwide attention, and respect, because of the challenging content and its uniqueness. It has also come to be recommended by several distinguished professors in the field. The Econometric Game differentiates itself by assembling 30 universities worldwide who then show the world that econometrics is more than just number crunching to solve financial problems.
- 120 PhD & master students from all around the world;
- All continents represented;
- 30 participating universities i.e. Harvard (2017 & 2016 winner), Oxford and Cambridge.
- 1 year preparations;
- 7 committee members;
- 1500 sandwiches;
- 500 meals;
- 19th edition;
- 7 supporting partners;
Econometrics is applied at the Econometric Game to challenge a variety of problems, ranging from poverty analysis to the effect of maternal use of alcohol during the pregnancy on the infants’ cognitive outcomes. Aside from academically challenging, the cases are also socially relevant. This year's case revolved around the topic of the economics of happiness. The central question was: ‘What is the multiplier between the detrimental effect of unemployment on the wellbeing of the individual who is unemployed and the total effect of that person’s unemployment on the wellbeing of the group as a whole.’
Daily report by Casper Hoogenboom
Wednesday - Opening & case
On behalf of this year's committee, I was honoured to welcome all the participants, as well as all our partners, to the nineteenth edition of the Econometric Game in Kriterion during the opening. It is truly inspiring to see 120 of the best students in econometrics from all over the world coming together to compete in this event. This year's case revolved around the topic of the economics of happiness.
Thursday – Amsterdam Data Challenge (ADC)
While the Econometric Game participants started working for the second day on the case, their younger fellow econometricians started working on the Amsterdam Data Challenge case. The Amsterdam Data Challenge is a challenging side event during the Econometric Game, where a group of 24 students from Dutch universities are selected by their resume to participate. This year the case revolved around the topic of how Airbnb is affecting the housing sector in Amsterdam. During the day a challenging case had to be resolved using data science techniques. At the end of the day, the participants pitched their outcomes and a jury of qualified and independent professors reviewed the outcomes and announced the winner during the dinner and drinks later that day. The Amsterdam Data Challenge is a unique event in the way that it gives bachelor, master and even PhD students the opportunity to experience the Econometric Game.
A piece from the Amsterdam Data Challenge magazine:
Friday – Final & exploring Amsterdam & winners
On the third day, the 10 finalist teams started working on a new case. In the final round, the case revolved about how the effects of the unemployment of one person on others are mediated. The other 80 participants, who did not make it to the final round, explored the city of Amsterdam by a boat trip. At the end of the day, the finalists pitched their outcomes for the jury at the University of Amsterdam. Later that day, the winners of the Econometric Game 2018 were announced during the award ceremony at Calf & Bloom. Carlos III de Madrid won the Econometric Game 2018 with their report on "About the Transmission Channels of Unemployment Rate on Individual Happiness".
Find more information about the winners, cases and findings on www.econometricgame.com.
Chairman Econometric Game Committee 2018