Before revision:  Linear regression is a special case of the proposed ML framework , equivalent to the traditional approach . Standard results from the machine learning literaturemay be used to derive conditions for when ML algorithms improve upon linear regression . Based on simulation studies and several datasets, I find that ML significantly reduce estimation risk compared to  the traditional approach and several shrinkage approaches proposed in the literature .
After revision:  Linear regression is a special case of the proposed ML framework , equivalent to the traditional approach and recently proposed shrinkage approaches as special cases. By relying on results from the machine learning literaturemay be used to derive conditions for when ML algorithms improve upon linear regression . Based on simulation studies and several datasets, I find that ML significantly reduce estimation risk compared to the traditional approach and several shrinkage approaches proposed in the literature .