General Rules:

  1. The regulations define the rules of conducting the third edition of  the competition named “Warsaw Econometric Challenge 2023”.
  2. Warsaw Econometric Challenge, third edition in 2023, hereinafter called the Contest, is organised by the Faculty of Economic Sciences of the University of Warsaw jointly with the High Tech Foundation (hereinafter jointlythe Organizers). The aim of the Contest is to extend students’ knowledge and abilities to use quantitative methods with a special emphasis on econometric and machine learning methods.
  3. All graduate and undergraduate students of each and every academic institution (universities, economic universities, business schools, universities of technology, etc.) located in countries that voted in favour of adopting the United Nations General Assembly Resolution ES-11/4, can participate in the Contest.
  4. The goal of the Contest is to prepare a scientific paper on the subject described by the Organizers based on the supplied dataset (data can be extended by teams).
  5. There will be one and the same subject given to all teams.
  6. All quantitative methods are allowed!
  7. The Contest paper must be prepared by teams of max 4 students. We allow intercollegiate teams.
  8. The subject is meant to be engaging and thought-provoking with more than one possible solution approach available. The ultimate goal of the Contest is to promote academic career path and to demonstrate that science can be fun!
  9. Participation is voluntary. Each participant can withdraw from the Contest at any point informing the Organizers and team members. 
  10. To participate in the Contest, registration via the form available on the website of the Contest is required. The form gathers information on team and team member(s):
  • name
  • surname
  • name of the team
  • email
  • student album no and photograph of student ID
  • affiliation (name of the academic institution)
  • country of affiliation
  1. All of the information provided by in the registration (or any other accompanying or required documents) have to be correct, accurate, actual and complete to the best of participants’ knowledge.

Contest Details:

  1. The Contest is supervised by the organising committee and in the same time jury that consists of dr Marcin Chlebus, dr mult. Jacek Lewkowicz, dr Rafal Woźniak and dr hab. Piotr Wójcik, prof. ucz.
  2. The Contest will take place remotely. It will start on Saturday, April 22nd, 2023 at 10 a.m. CET when participants will learn about the Contest problem and supplied data description. This introductory part will last about 1 hour. Until 1:00 p.m. CET teams will be allowed to consult their general ideas with the jury via email. The organizing committee reserves the right not to address some questions.
  3. The deadline for the paper submission is 4:00 p.m. CET on Sunday, April 23rd, 2023. The papers should be submitted via email to The papers submitted after the deadline will not be considered.
  4. The jury evaluates the submitted papers until May 31st, 2023.
  5. The jury selects the winning paper(s). The assessment of papers will be made in the same way the submitted papers are assessed by editors and reviewers at scientific journals. The jury will do its utmost to assess the papers impartially. Having said that, the participants should be reminded that not all decisions can be easily quantified.
  6. For all cases, including not foreseen in this statute, common sense and Fair Play rules are applied.
  7. The organising committee has a right to change the date of the Contest due to exigent circumstances.


  1. Certificates and prizes (in a form of non-returnable scholarships) will be provided. All participants who will submit a paper will be awarded with a certificate. 
  2. Each member of the winning team (1st place) will be awarded with PLN 4500, each member of the team getting the 2nd place will be awarded with PLN 3000, each member of the team getting the 3rd place will be awarded with PLN 2000, and each member of the team getting a honourable mentioned will be awarded with PLN 1000.
  3. The last one applies only to students of the Faculty of Economic Sciences of the University of Warsaw. An additional prize is foreseen for the top ranked team out of all teams affiliated at the Faculty of Economic Sciences of the University of Warsaw. Each member of the winning team can select an empirical project for which they will be awarded with the highest grade. The list of possible courses consists of:
    1. Advanced Econometrics (DS&BA),
    2. Zaawansowana Ekonometria II (IiE),
    3. Prognozowanie i symulacje (IiE),
    4. Ekonometria (IiE oraz MSEMat),
    5. Modelowanie danych panelowych (WK),
    6. Time Series Analysis (QF),
    7. Empirics of Financial Markets (QF),
    8. Machine Learning I (DS&BA),
    9. Credit Risk – methods of scorecards development in R,
    10. Programowanie Narzędzi Analitycznych oraz Programowanie Narzędzi Analitycznych II (IiE),
    11. Understanding Business (DSBA).

Copyrights and personal data processing:

  1. Members of the teams that submit solutions within the Contest, transfer – free of charge – all proprietary copyrights and related rights to the organizing committee of the Contest.
  2. Submitted works have to be original and cannot violate or infringe on any copyright or other personal or property rights of any third parties. The statement applies also to figures, tables, results and all accompanying codes.
  3. The administrator of personal data included in the registration is the University of Warsaw (ul. Krakowskie Przedmieście 26/28, 00-927 Warsaw) and The High Tech Foundation (Nowy Świat 60/9, 00-357 Warsaw). Participants consent to the processing of their personal data contained in the registration, in accordance with the Regulation of the European Parliament and of the Council (EU) 2016/679 of 27 April 2016 on the protection of individuals with regard to the processing of personal data. Participants also consent to process of my personal data for the purposes of any future processes related to the Contest.
  4. Participants hereby consent to the use of their likeness, biography and picture related to them, in photographs and videos made for the Contest promotion, as well as in publicity concerning the same. Participants consent to the use of their names in connection with the photographs and videos, and they also allow the Contest not to use their names, as appropriate. Participants declare that they have the full right to make this declaration of consent. Participants understand that they will not be entitled to receive any payment in consideration for the use of details related to them as set forth above, in the photographs pursuant to this declaration of consent. The Contest shall have the sub-licensable and worldwide right to use my details as set forth above in relation with the photographs, in any manner whatsoever. The use may include, but is not limited to, editing, duplication, licensing, distribution and incorporation in other works, in whatever form (e.g. hard copy or electronic), such as posters, publications, web sites, films or videos, and their unrestricted use, without any obligation on the part of the Contest to seek any further authorization by the undersigned.

Final Provisions:

  1. The Organizers declare that the competitions are not games of chance, raffle lotteries, promotional lotteries and mutual wagering and any other form provided for in the Gambling Act of 19 November 2009 (Journal of Laws of 2019, items 847, 1495, of 2020, item 284) and are not subject to the rules contained in the above-mentioned the act, executive regulations to this act.
  2. The Organizers reserve the right to change the provisions of these regulations.
  3. The statute available on the Contest website in electronic form.
  4. Any disputes not specified in the statute shall be settled by the Organizers.
  5. The regulations come into force on the day of publishing the them at the Contest website.