Overview of Machine Learning in Behavioral Economics | AISC

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Canada LLMs Explained - Aggregate Intellect - AI.SCIENCE
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Published on ● Video Link: https://www.youtube.com/watch?v=WGDWv_OgUaw


Duration: 40:38
1,117 views
27

Speaker(s): Jiri Stodulka

Find the recording, slides, and more info at https://ai.science/e/overview-of-ml-in-behavioral-economics--h1jWO5wq80DIitDlOsvZ

Motivation / Abstract
The talk will bridge between cognitive models used in behavioural economics and ML. Using cognitive model priors in ML may lead to a new generation of human choice prediction models. Specifically, Best Estimate and Sampling Tools (BEAST) leverages subjective weighing functions in favour of tackling deficiencies of expected utility and prospect theory used in economics. The two works discussed use the BEAST for human gamble choice predictions from two different perspectives in ML models and outline the future path in the field.



What was discussed?


What are the key takeaways?


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