Related papers: Machine learning and behavioral economics for pers…
Two-sided matching markets have long existed to pair agents in the absence of regulated exchanges. A common example is school choice, where a matching mechanism uses student and school preferences to assign students to schools. In such…
Artificial Intelligence (AI) has revolutionized food marketing by providing advanced techniques for personalized recommendations, consumer behavior prediction, and campaign optimization. This paper explores the shift from traditional…
Recent advances in computing power and the potential to make more realistic assumptions due to increased flexibility have led to the increased prevalence of simulation models in economics. While models of this class, and particularly…
Regression plays a key role in many research areas and its variable selection is a classic and major problem. This study emphasizes cost of predictors to be purchased for future use, when we select a subset of them. Its economic aspect is…
Artificial intelligence is reshaping labor markets, yet we lack tools to systematically forecast its effects on employment. This paper introduces a benchmark for evaluating how well large language models (LLMs) can anticipate changes in job…
Machine learning models are increasingly integrated into societally critical applications such as recidivism prediction and medical diagnosis, thanks to their superior predictive power. In these applications, however, full automation is…
Behavioural analytics provides insights into individual and crowd behaviour, enabling analysis of what previously happened and predictions for how people may be likely to act in the future. In defence and security, this analysis allows…
The use of Artificial Intelligence (AI), or more generally data-driven algorithms, has become ubiquitous in today's society. Yet, in many cases and especially when stakes are high, humans still make final decisions. The critical question,…
Large Language Models (LLMs) are increasingly used in decision-making scenarios that involve risk assessment, yet their alignment with human economic rationality remains unclear. In this study, we investigate whether LLMs exhibit risk…
Applications of machine learning (ML) to high-stakes policy settings -- such as education, criminal justice, healthcare, and social service delivery -- have grown rapidly in recent years, sparking important conversations about how to ensure…
Standard economic theory uses mathematics as its main means of understanding, and this brings clarity of reasoning and logical power. But there is a drawback: algebraic mathematics restricts economic modeling to what can be expressed only…
Behavioural economics provides labels for patterns in human economic behaviour. Probability weighting is one such label. It expresses a mismatch between probabilities used in a formal model of a decision (i.e. model parameters) and…
Large Language Models (LLMs) have empowered AI agents with advanced capabilities for understanding, reasoning, and interacting across diverse tasks. The addition of memory further enhances them by enabling continuity across interactions,…
When humans are subject to an algorithmic decision system, they can strategically adjust their behavior accordingly (``game'' the system). While a growing line of literature on strategic classification has used game-theoretic modeling to…
This systematic review examines how machine learning (ML) and deep learning (DL) have transformed forecasting, decision-making, and financial modelling, promoting innovation and efficiency in financial systems. Following PRISMA 2020…
Optimizing economic and public policy is critical to address socioeconomic issues and trade-offs, e.g., improving equality, productivity, or wellness, and poses a complex mechanism design problem. A policy designer needs to consider…
Artificial Intelligence (AI) and Machine Learning (ML) algorithms can support the span of indicator-level, e.g. anomaly detection, to behavioral level cyber security modeling and inference. This contribution is based on a dataset named BRON…
A broad current application of algorithms is in formal and quantitative measures of murky concepts -- like merit -- to make decisions. When people strategically respond to these sorts of evaluations in order to gain favorable decision…
Machine Learning (ML) algorithms are vital for supporting clinical decision-making in biomedical informatics. However, their predictive performance can vary across demographic groups, often due to the underrepresentation of historically…
The improvement of computers' capacities, advancements in algorithmic techniques, and the significant increase of available data have enabled the recent developments of Artificial Intelligence (AI) technology. One of its branches, called…