Frontiers in computational revealed preference analysis.
Abstract: Prest (https://prestsoftware.com/) is a recently published piece of open-source software for computational revealed preference analysis that provides novel ways to estimate decision makers’ preferences over choice alternatives by analysing their observable choice behaviour. This software is informed by classic as well as recent developments in economic revealed preference theory. Some of the recent developments take the form of models that are computationally complex. This complexity currently hinders the inclusion of these models in the Prest toolkit. The presentation will first aim to describe the primary ideas underpinning Prest and illustrate them with examples from its existing toolkit. It will then proceed with a discussion of some of the challenges pertaining to the expansion of that toolkit with more models and operations. The presentation will be self-contained and no prior background in economics will be necessary.
Speaker Bio: Georgios is a Reader in Economics at the University of St Andrews, working mainly on decision theory and revealed preference analysis. In the latter research programme, Georgios’ work aims to improve our understanding of people’s decision processes and preferences through theoretical, experimental/empirical as well as computational methods. Georgios co-developed the Prest software program for computational revealed preference analysis (https://prestsoftware.com/).