What are the determinants of creativity, novelty, and innovation? In this paper I explore this question through an analysis of data from the Song Explorer podcast, where composers describe how they created a specific song. I mine their accounts to classify their processes into seven different,...

The failure of public policies is ubiquitous. This paper ascribes this failure to the complex system nature of public policies. A key characteristic of complex systems is that they cannot be closely controlled or predicted. Yet the traditional approach to public policy is fundamentally based on...

This paper models the process of regulatory agency design, focusing on the role of credibility. The government is constrained in the sense that it must create regulatory institutions that allow it to commit to not administratively expropriate investors. The model explains both the preference of...