This paper describes how statistical methods can be tested on computer-generated data from known models. We explore bias and percentile tests in detail, illustrating these with examples based on insurance claims and financial time series.

The James Webb Space Telescope (JWST), which has recently become operational, is capable of detecting objects at record-breaking redshifts, z?15. This a crucial advance for observational cosmology, as these redshifts the differences between alternative cosmological models manifest themselves in most obvious way. In recent years, some hints have emerged indicating that Standard Cosmological Mode...

Should regulators reveal the models they use to stress-test banks? In our setting, revealing leads gaming, but secrecy can induce banks underinvest in socially desirable assets for fear of failing test. We show that although regulator solve this underinvestment problem by making test easier, some disclosure may still be optimal (e.g., if have high appetite risk or capital shortfalls are not ver...