Hongtao Liu

Jiarui Ji, Yang Li, Hongtao Liu et al.

Public scarce resource allocation plays a crucial role in economics as it directly influences the efficiency and equity in society. Traditional studies including theoretical model-based, empirical study-based and simulation-based methods encounter limitations due to the idealized assumption of complete information and individual rationality, as well as constraints posed by limited available data. In this work, we propose an innovative framework, SRAP-Agent (Simulating and Optimizing Scarce Resource Allocation Policy with LLM-based Agent), which integrates Large Language Models (LLMs) into economic simulations, aiming to bridge the gap between theoretical models and real-world dynamics. Using public housing allocation scenarios as a case study, we conduct extensive policy simulation experiments to verify the feasibility and effectiveness of the SRAP-Agent and employ the Policy Optimization Algorithm with certain optimization objectives. The source code can be found in https://github.com/jijiarui-cather/SRAPAgent_Framework

Hongtao Liu

A growing number of empirical studies suggest that negative advertising is effective in campaigning, while the mechanisms are rarely mentioned. With the scandal of Cambridge Analytica and Russian intervention behind the Brexit and the 2016 presidential election, people have become aware of the political ads on social media and have pressured congress to restrict political advertising on social media. Following the related legislation, social media companies began disclosing their political ads archive for transparency during the summer of 2018 when the midterm election campaign was just beginning. This research collects the data of the related political ads in the context of the U.S. midterm elections since August to study the overall pattern of political ads on social media and uses sets of machine learning methods to conduct sentiment analysis on these ads to classify the negative ads. A novel approach is applied that uses AI image recognition to study the image data. Through data visualization, this research shows that negative advertising is still the minority, Republican advertisers and third party organizations are more likely to engage in negative advertising than their counterparts. Based on ordinal regressions, this study finds that anger evoked information-seeking is one of the main mechanisms causing negative ads to be more engaging and effective rather than the negative bias theory. Overall, this study provides a unique understanding of political advertising on social media by applying innovative data science methods. Further studies can extend the findings, methods, and datasets in this study, and several suggestions are given for future research.