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Designing Human-AI Collaboration : A Sufficient-Statistic Approach

Agarwal, Nikhil; Moehring, Alex; Wolitzky, Alexander - National Bureau of Economic Research - 2025

We propose a sufficient statistic for designing AI information-disclosure and selective automation policies. The approach allows for endogenous and biased beliefs, and effort crowd-out, without using a structural model of human decision-making. We deploy and validate our approach in a...

Persistent link: https://www.econbiz.de/10015421900

Will User-Contributed AI Training Data Eat Its Own Tail?

Gans, Joshua - National Bureau of Economic Research - 2024

This paper examines and finds that the answer is likely to be no. The environment examined starts with users who contribute based on their motives to create a public good. Their own actions determine the quality of that public good but also embed a free-rider problem. When AI is trained on that...

Persistent link: https://www.econbiz.de/10014635649

Large Language Models as Simulated Economic Agents : What Can We Learn from Homo Silicus?

Horton, John J. - National Bureau of Economic Research - 2023

Newly-developed large language models (LLM)--because of how they are trained and designed--are implicit computational models of humans--a homo silicus. LLMs can be used like economists use homo economicus: they can be given endowments, information, preferences, and so on, and then their behavior...

Persistent link: https://www.econbiz.de/10014250140

AI Agents for Economic Research

Korinek, Anton - National Bureau of Economic Research - 2025

The objective of this paper is to demystify AI agents - autonomous LLM-based systems that plan, use tools, and execute multi-step research tasks - and to provide hands-on instructions for economists to build their own, even if they do not have programming expertise. As AI has evolved from simple...

Persistent link: https://www.econbiz.de/10015464371

The Mid-Life Dip in Well-Being : Economists (Who Find It) Versus Psychologists (Who Don't)!

Blanchflower, David G. - 2020

A number of studies - including our own - find a mid-life dip in well-being. We review a psychology literature that claims that the evidence of a U-shape is "overblown" and if there is such a decline it is "trivial". We find remarkably strong and consistent evidence across countries and US...

Persistent link: https://www.econbiz.de/10012482068

Ricardo's Theory of Comparative Advantage : Old Idea, New Evidence

Costinot, Arnaud - 2012

replied: 'Ricardo's theory of comparative advantage'. Truth, however, in Samuelson's reply refers to the fact that Ricardo …'s theory of comparative advantage is mathematically correct, not that it is empirically valid. The goal of this paper is to … output predicted by Ricardo's theory of comparative advantage. Despite all of the real-world considerations from which this …

Persistent link: https://www.econbiz.de/10012460690

The New Comparative Economics

Djankov, Simeon - 2003

In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence on economic development. We argue that, to understand capitalist institutions, one needs to understand...

Persistent link: https://www.econbiz.de/10012469090

Economic Imperialism

Lazear, Edward P. - 1999

theory. Finally, a focus on efficiency leads economists to ask questions that other social sciences ignore. These ingredients …

Persistent link: https://www.econbiz.de/10012471484

Language Models and Cognitive Automation for Economic Research

Korinek, Anton - National Bureau of Economic Research - 2023

Large language models (LLMs) such as ChatGPT have the potential to revolutionize research in economics and other disciplines. I describe 25 use cases along six domains in which LLMs are starting to become useful as both research assistants and tutors: ideation, writing, background research, data...

Persistent link: https://www.econbiz.de/10014226154

A Research Agenda for the Economics of Transformative AI

Brynjolfsson, Erik; Korinek, Anton; Agrawal, Ajay - National Bureau of Economic Research - 2025

As we approach Transformative Artificial Intelligence (TAI), there is an urgent need to advance our understanding of how it could reshape our economic models, institutions and policies. We propose a research agenda for the economics of TAI by identifying nine Grand Challenges: economic growth,...

Persistent link: https://www.econbiz.de/10015464424