Reported by: Liu Xiao, Senior Associate Professor of Tsinghua University School of Economics and Management, Associate Editor in Chief of Management Science

Time: 10:00 am on Tuesday, April 11, 2023

Address: 240, Main Building, Zhongguancun Campus, Beijing Institute of Technology

Introduction to report content:Individual rationality plays a central role in modern economic theory, while how to measure rationality has been quite challenging. In particular, whether the rationality measured in different domains is stable or not is an open question. Combining consumers’ purchase data from a large supermarket chain and their choice in a survey experiment, we directly examine three important questions for rationality measurements: (1) external validity: can rationality measured in the survey experiment successfully predict consumers’ actual purchase behaviour; (2) cross validity: is rationality exhibited in risk preference consistent with that in social preference? (3) What leads to these asymmetric patterns of consistency.

Introduction to the speaker:

Liu Xiao is an associate professor appointed by the School of Economics and Management at Tsinghua University. He graduated with a bachelor's degree from the School of Information at Renmin University of China and later went to the University of Michigan in Ann Arbor to obtain a doctoral degree in Information Science. After graduation, he has been working at Tsinghua University School of Economics and Management until now. Her main research interests include Experimental economics, Behavioral economics, market design and information economics. Currently serving as Associate Editor for three international journals: Management Science, Journal of Economic Behavior&Organization, Journal of Behavioral and Experimental Economics. Her research achievements were not only published on top journals of economics and management, such as Management Science, Games and Economic Behavior, Journal of Development Economics, but also on top conferences of machine learning and artificial intelligence, such as the International Conference on Data Mining and Knowledge Discovery (KDD), the International Joint Conference on Artificial Intelligence (IJCAI), etc.

(Undertaken by: Department of Technology, Economics and Strategic Management, Research and Academic Exchange Center)