Related papers: Machine learning and behavioral economics for pers…
Large language models are increasingly used to predict human preferences in both scientific and business endeavors, yet current approaches rely exclusively on analyzing model outputs without considering the underlying mechanisms. Using…
For public health programs with limited resources, the ability to predict how behaviors change over time and in response to interventions is crucial for deciding when and to whom interventions should be allocated. Using data from a…
In AI-assisted decision-making, effective hybrid (human-AI) teamwork is not solely dependent on AI performance alone, but also on its impact on human decision-making. While prior work studies the effects of model accuracy on humans, we…
Agent-based models provide a constructive approach to studying emergent dynamics in life-like systems composed of interacting, adaptive agents. Financial markets serve as a canonical example of such systems, where collective price dynamics…
Machine learning (ML) algorithms are increasingly deployed to make critical decisions in socioeconomic applications such as finance, criminal justice, and autonomous driving. However, due to their data-driven and pattern-seeking nature, ML…
The advent of Large Language Models (LLMs) has revolutionized product recommenders, yet their susceptibility to adversarial manipulation poses critical challenges, particularly in real-world commercial applications. Our approach is the…
Personalized prediction of responses for individual entities caused by external drivers is vital across many disciplines. Recent machine learning (ML) advances have led to new state-of-the-art response prediction models. Models built at a…
A critical review of artificial intelligence and deep machine learning (AI/ML) applied to downscaling of global climate model simulations provides some words of caution, based on past experiences and well-established principles. Recent…
Environments built for people are increasingly operated by a new class of economic actors: LLM-powered software agents making decisions on our behalf. These decisions range from our purchases to travel plans to medical treatment selection.…
With the large language model showing human-like logical reasoning and understanding ability, whether agents based on the large language model can simulate the interaction behavior of real users, so as to build a reliable virtual…
This paper proposes a new way to model behavioral agents in dynamic macro-financial environments. Agents are described as neural networks and learn policies from idiosyncratic past experiences. I investigate the feedback between…
A very timely issue for economic agent-based models (ABMs) is their empirical estimation. This paper describes a line of research that could resolve the issue by using machine learning techniques, using multi-layer artificial neural…
Modeling human cognitive processes in dynamic decision-making tasks has been an endeavor in AI for a long time because such models can help make AI systems more intuitive, personalized, mitigate any human biases, and enhance training in…
Hardly any other area of research has recently attracted as much attention as machine learning (ML) through the rapid advances in artificial intelligence (AI). This publication provides a short introduction to practical concepts and methods…
Artificial intelligence algorithms are increasingly adopted as decisional aides by public bodies, with the promise of overcoming biases of human decision-makers. At the same time, they may introduce new biases in the human-algorithm…
This article provides a curated review of selected papers published in prominent economics journals that use machine learning (ML) tools for research and policy analysis. The review focuses on three key questions: (1) when ML is used in…
Political science, and social science in general, have traditionally been using computational methods to study areas such as voting behavior, policy making, international conflict, and international development. More recently, increasingly…
There is considerable interest in developing techniques for predicting human behavior, for instance to enable emerging contentious situations to be forecast or the nature of ongoing but hidden activities to be inferred. A promising approach…
This paper discusses capabilities that are essential to models applied in policy analysis settings and the limitations of direct applications of off-the-shelf machine learning methodologies to such settings. Traditional econometric…
Macroeconomic nowcasting sits at the intersection of traditional econometrics, data-rich information systems, and AI applications in business, economics, and policy. Machine learning (ML) methods are increasingly used to nowcast quarterly…