6 papers
Dynamic Discrete Choice and Inverse Reinforcement Learning: Inferring Preferences and Beliefs From Human Behavior
Pranjal Rawat, John Rust
This article surveys two deeply connected literatures that approach the same fundamental problem from different disciplinary traditions: dynamic discrete choice (DDC) in structural…
A Survey of Reinforcement Learning For Economics
Pranjal Rawat
This survey (re)introduces reinforcement learning methods to economists. The curse of dimensionality limits how far exact dynamic programming can be effectively applied, forcing us…
Who is More Bayesian: Humans or ChatGPT?
Tianshi Mu, Pranjal Rawat, John Rust +2
We compare the performance of human and artificially intelligent (AI) decision makers in simple binary classification tasks where the optimal decision rule is given by Bayes Rule.…
Approximating Auction Equilibria with Reinforcement Learning
Pranjal Rawat
Traditional methods for computing equilibria in auctions become computationally intractable as auction complexity increases, particularly in multi-item and dynamic auctions. This p…
A Deep Learning Approach to Heterogeneous Consumer Aesthetics in Fast Fashion
Pranjal Rawat
Aesthetics drives product differentiation in industries such as fashion, interior decor, luxury goods, real estate and hospitality. However, visual differentiation is hard to encod…
Designing Auctions when Algorithms Learn to Bid
Pranjal Rawat
Algorithms increasingly automate bidding in online auctions, raising concerns about tacit bid suppression and revenue shortfalls. Prior work identifies individual mechanisms behind…