Artificial Intelligence and Behavioral Economics

Abstract

This paper describes 2-1/2 highly speculative ideas about how artificial intelligence (AI) and behavioral economics may interact, particular in future developments in the economy and in research frontiers. First note that I’ll use the terms AI and machine learning (ML) interchangeably (although AI is broader) because the examples I have in mind all involve ML and prediction. A good introduction to ML for economists is Mullainathan and Spiess (2017).