Related papers: Augmented Neural Networks for Modelling Consumer I…
What might sound like the beginning of a joke has become an attractive prospect for many cognitive scientists: the use of deep neural network models (DNNs) as models of human behavior in perceptual and cognitive tasks. Although DNNs have…
The digital revolution has led to the digitization of human behavior, creating unprecedented opportunities to understand observable actions on an unmatched scale. Emerging phenomena such as crowdfunding and crowdsourcing have further…
This paper integrates deep neural networks (DNNs) into structural economic models to increase flexibility and capture rich heterogeneity while preserving interpretability. Economic structure and machine learning are complements in empirical…
Prior studies have generally suggested that Artificial Neural Networks (ANNs) are superior to conventional statistical models in predicting consumer buying behavior. There are, however, contradicting findings which raise question over…
We study an alternative use of machine learning. We train neural nets to provide the parameter estimate of a given (structural) econometric model, for example, discrete choice or consumer search. Training examples consist of datasets…
The widespread use of machine learning in credit scoring has brought significant advancements in risk assessment and decision-making. However, it has also raised concerns about potential biases, discrimination, and lack of transparency in…
This paper presents a novel approach to credit risk prediction by employing Graph Convolutional Neural Networks (GCNNs) to assess the creditworthiness of borrowers. Leveraging the power of big data and artificial intelligence, the proposed…
This paper presents a novel credit scoring approach using neural networks to address class imbalance and out-of-time prediction challenges. We develop a specific optimizer and loss function inspired by Hamiltonian mechanics that better…
Multiple datasets containing different types of features may be available for a given task. For instance, users' profiles can be used to group users for recommendation systems. In addition, a model can also use users' historical behaviors…
With the development of the financial industry, credit default prediction, as an important task in financial risk management, has received increasing attention. Traditional credit default prediction methods mostly rely on machine learning…
The inability of artificial neural networks to assess the uncertainty of their predictions is an impediment to their widespread use. We distinguish two types of learnable uncertainty: model uncertainty due to a lack of training data and…
We present a new approach for predictive modeling and its uncertainty quantification for mechanical systems, where coarse-grained models such as constitutive relations are derived directly from observation data. We explore the use of a…
Discrete-choice models are used in economics, marketing and revenue management to predict customer purchase probabilities, say as a function of prices and other features of the offered assortment. While they have been shown to be…
Neural networks have proven successful at learning from complex data distributions by acting as universal function approximators. However, they are often overconfident in their predictions, which leads to inaccurate and miscalibrated…
Deep neural networks are often ignorant about what they do not know and overconfident when they make uninformed predictions. Some recent approaches quantify classification uncertainty directly by training the model to output high…
This paper contributes to the literature on parametric demand estimation by using deep learning to model consumer preferences. Traditional econometric methods often struggle with limited within-product price variation, a challenge addressed…
The artificial neural network shows powerful ability of inference, but it is still criticized for lack of interpretability and prerequisite needs of big dataset. This paper proposes the Rule-embedded Neural Network (ReNN) to overcome the…
While deep neural networks (DNNs) have been increasingly applied to choice analysis showing high predictive power, it is unclear to what extent researchers can interpret economic information from DNNs. This paper demonstrates that DNNs can…
Data missingness and quality are common problems in machine learning, especially for high-stakes applications such as healthcare. Developers often train machine learning models on carefully curated datasets using only high quality data;…
In the realm of globalized financial markets, commercial banks are confronted with an escalating magnitude of credit risk, thereby imposing heightened requisites upon the security of bank assets and financial stability. This study harnesses…