Nisheeth Srivastava: Where Do Preferences Come From?

The video discusses a research project on the cognitive foundations of economic microfoundations, led by a PhD from the University of Minnesota. The project aims to explore the origins of economic preferences using Bayesian modeling, challenging traditional economic assumptions. The speaker shares their academic journey from engineering in India to psychology and computer science in Minnesota. The video concludes with future plans and the significance of new economic thinking.

What is the main focus of the research project discussed in the video?

• The impact of globalization on markets

• The role of technology in economics

• The history of economic thought

• Cognitive foundations of economic microfoundations

Why were preferences historically neglected in economic theory?

• They were considered the domain of psychologists and philosophers

• They were already well understood

• Economists found them too complex to model

• They were irrelevant to economic outcomes

What is the proposed method for understanding human preferences in the research?

• Behavioral experiments

• Bayesian modeling

• Game theory

• Classical economic models

What is a key aspect of the proposed Bayesian modeling approach?

• It focuses solely on individual actions

• It disregards historical data

• It minimizes cognitive and metabolic costs

• It assumes everyone learns preferences differently

What type of experiments are involved in the research methodology?

• Field studies with professionals

• Interviews with psychologists

• Lab experiments with college students

• Surveys with economists

How did the speaker transition from engineering to psychology and computer science?

• Through a series of cybernetics and AI projects

• By studying economics in India

• By working in the technology sector

• Through a mentorship program

What are the speaker's plans after taking a break from research?

• To climb mountains and then continue the work

• To start a new research project

• To teach at a university

• To write a book on economics