Estimating long-term treatment effects without long-term outcome data
David Rhys Bernard (Rethink Priorities), Jojo Lee and Victor Yaneng Wang (Global Priorities Institute, University of Oxford)
GPI Working Paper No. 13-2023
The surrogate index method allows policymakers to estimate long-run treatment effects before long-run outcomes are observable. We meta-analyse this approach over nine long-run RCTs in development economics, comparing surrogate estimates to estimates from actual long-run RCT outcomes. We introduce the M-lasso algorithm for constructing the surrogate approach’s first-stage predictive model and compare its performance with other surrogate estimation methods. Across methods, we find a negative bias in surrogate estimates. For the M-lasso method, in particular, we investigate reasons for this bias and quantify significant precision gains. This provides evidence that the surrogate index method incurs a bias-variance trade-off.
Other working papers
Welfare and felt duration – Andreas Mogensen (Global Priorities Institute, University of Oxford)
How should we understand the duration of a pleasant or unpleasant sensation, insofar as its duration modulates how good or bad the experience is overall? Given that we seem able to distinguish between subjective and objective duration and that how well or badly someone’s life goes is naturally thought of as something to be assessed from her own perspective, it seems intuitive that it is subjective duration that modulates how good or bad an experience is from the perspective of an individual’s welfare. …
How important is the end of humanity? Lay people prioritize extinction prevention but not above all other societal issues. – Matthew Coleman (Northeastern University), Lucius Caviola (Global Priorities Institute, University of Oxford) et al.
Human extinction would mean the deaths of eight billion people and the end of humanity’s achievements, culture, and future potential. On several ethical views, extinction would be a terrible outcome. How do people think about human extinction? And how much do they prioritize preventing extinction over other societal issues? Across six empirical studies (N = 2,541; U.S. and China) we find that people consider extinction prevention a global priority and deserving of greatly increased societal resources. …
Against the singularity hypothesis – David Thorstad (Global Priorities Institute, University of Oxford)
The singularity hypothesis is a radical hypothesis about the future of artificial intelligence on which self-improving artificial agents will quickly become orders of magnitude more intelligent than the average human. Despite the ambitiousness of its claims, the singularity hypothesis has been defended at length by leading philosophers and artificial intelligence researchers. In this paper, I argue that the singularity hypothesis rests on scientifically implausible growth assumptions. …