Richeng Piao, Ph.D.: Economist, Data Scientist, and AI Researcher
As an economist and data scientist, my work focuses on the intersection of technology, data, and economic theory, examining the profound ways advancements like AI reshape markets and influence decision-making. My approach blends a strong academic foundation with hands-on data science techniques, providing actionable insights into today’s digital economy.
Research Focus Areas
- Advanced Empirical Economic Models
- I specialize in applying structural demand estimation and market simulations to explore how technological advancements influence consumer behavior and market dynamics. My work combines rigorous econometric modeling with data-driven insights to address pressing questions across diverse sectors.
- AI in Industrial Organization
- A central theme of my research is the exploration of AI in the context of antitrust and market regulation. This includes studying the A core theme of my research is the transformative impact of AI on market structures and regulatory frameworks. I study AI’s role in pricing mechanisms, competition, and antitrust considerations, contributing to an understanding of how digital tools shape economic efficiency and market fairness.
- Airbnb’s Smart Pricing Tool
- My ongoing research investigates Airbnb’s algorithmic pricing tool and its implications for market behavior. Using machine learning to cluster host characteristics from 2022 data, I examine how different host types adopt and use the tool. Employing fuzzy Regression Discontinuity Design (RDD) and instrumental variables on 2023 data, I explore the causal effects of this tool on pricing strategies and market competition.
- Consumer Demographics and Identity in Market Analysis
- Future research will leverage machine learning techniques to extract demographic and behavioral insights from consumer reviews on platforms like Airbnb. By integrating these insights into BLP demand estimation models, I aim to capture nuanced variations in consumer preferences, enriching the analysis of market demand and competition.
- Development of AI Pricing Agents
- I plan to develop AI pricing agents to simulate market behaviors and competitive dynamics. This research will advance market simulations, providing insights into how automated decision-making impacts pricing strategies and equilibrium outcomes in competitive environments.
Methodological Approach and Tools:
My research employs a blend of traditional economic theory and modern data science methods. Proficient in tools like Python, R, and Stata, I use machine learning, causal inference techniques (RDD, IV), and predictive analytics to conduct in-depth analyses. This integrative approach ensures both empirical rigor and relevance in addressing real-world economic challenges.
Vision and Contribution:
I aim to contribute to a deeper understanding of the evolving digital economy by exploring how AI and technological innovation are reshaping economic landscapes. My work provides valuable insights for policymakers, businesses, and academia, bridging the gap between theory and practice. Beyond addressing current trends, I focus on anticipating future challenges, equipping stakeholders with tools and knowledge to navigate a rapidly changing economic environment.
This restructured profile aligns with the themes and priorities we’ve discussed, presenting a cohesive narrative of your expertise and research focus. Let me know if you’d like further refinements!