Results 91 to 100 of about 193,127 (269)

LLM economicus? Mapping the Behavioral Biases of LLMs via Utility Theory [PDF]

arXiv
Humans are not homo economicus (i.e., rational economic beings). As humans, we exhibit systematic behavioral biases such as loss aversion, anchoring, framing, etc., which lead us to make suboptimal economic decisions. Insofar as such biases may be embedded in text data on which large language models (LLMs) are trained, to what extent are LLMs prone to ...
arxiv  

Are all meats substitutes? A basket‐and‐expenditure‐based approach

Agribusiness, EarlyView.
Abstract This study examines the relationship among animal‐based meat and plant‐based meat alternatives (PBMAs) using a basket‐and‐expenditure‐based choice experiment. In particular, we examine whether animal‐based meat products are substitutes or complements with PBMAs.
Clinton L. Neill, Logan L. Britton
wiley   +1 more source

Inequality's Economic and Social Roots: the Role of Social Networks and Homophily [PDF]

arXiv
I discuss economic and social sources of inequality and elaborate on the role of social networks in inequality, economic immobility, and economic inefficiencies. The lens of social networks clarifies how the entanglement of people's information, opportunities, and behaviors with those of their friends and family leads to persistent differences across ...
arxiv  

Large Effects of Small Cues: Priming Selfish Economic Decisions [PDF]

Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature offers for the differences found in the behavior between economists and noneconomists are the selection effect ...
arxiv   +1 more source

BEHAVIORAL ECONOMICS WITHOUT ANOMALIES [PDF]

, 1995
Howard Rachlin
openalex   +1 more source

Disentangling the relationships between denomination of origin regulatory councils activities and Spanish wineries' export performance

Agribusiness, EarlyView.
Abstract World markets for quality differentiated agri‐food products are highly competitive, presenting significant challenges for firms aiming to compete effectively. Government agencies and business organizations often implement various export promotion policies to address these challenges.
Nicolás Depetris‐Chauvin, Marta Fernández‐Olmos   +1 more
wiley   +1 more source

The R.B.Q. (Rational, Behavioral and Quantified) Model

Ekonomika, 2019
[full article and abstract in English] This paper is about the classic methods used in the analysis of economics. More precisely, the R.B.Q. (Rational, Behavioral, and Quantified) model is about rational economics and behavioral economic analysis in ...
Constantinos Challoumis
doaj   +1 more source

LLMs Model Non-WEIRD Populations: Experiments with Synthetic Cultural Agents [PDF]

arXiv
Despite its importance, studying economic behavior across diverse, non-WEIRD (Western, Educated, Industrialized, Rich, and Democratic) populations presents significant challenges. We address this issue by introducing a novel methodology that uses Large Language Models (LLMs) to create synthetic cultural agents (SCAs) representing these populations.
arxiv  

Can outsourcing pest and disease control help reduce pesticide expenditure? Evidence from rice farmers

Agribusiness, EarlyView.
Abstract Outsourcing pest and disease control (PDC) has grown rapidly worldwide, especially in developing countries. Although numerous studies have investigated various advantages of outsourcing PDC, little is known about its impact on pesticide expenditure.
Pengcheng Wang, Wanglin Ma, Mengling Diao   +2 more
wiley   +1 more source

Machine learning and behavioral economics for personalized choice architecture [PDF]

arXiv, 2019
Behavioral economics changed the way we think about market participants and revolutionized policy-making by introducing the concept of choice architecture. However, even though effective on the level of a population, interventions from behavioral economics, nudges, are often characterized by weak generalisation as they struggle on the level of ...
arxiv