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Newly-developed large language models (LLM)--because of how they are trained and designed--are implicit computational models of humans--a homo silicus. LLMs can be used like economists use homo economicus: they can be given endowments, information, preferences, and so on, and then their behavior...
Persistent link: https://www.econbiz.de/10014250140
This article describes methods used in the field of spatial economics that combine insights from economic theory and evidence from data in order to answer counter- factual questions. I outline a general framework that emphasizes three elements: a specific question to be answered, a set of...
Persistent link: https://www.econbiz.de/10013334493
While hypothesis testing is a highly formalized activity, hypothesis generation remains largely informal. We propose a systematic procedure to generate novel hypotheses about human behavior, which uses the capacity of machine learning algorithms to notice patterns people might not. We illustrate...
Persistent link: https://www.econbiz.de/10014247938
While hypothesis testing is a highly formalized activity, hypothesis generation remains largely informal. We propose a procedure that uses machine learning algorithms—and their capacity to notice patterns people might not—to generate novel hypotheses about human behavior. We illustrate the...
Persistent link: https://www.econbiz.de/10014259580
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