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Incentives in Markets, Firms and Governments
Acemoglu, Daron - 2003
healthcare. We argue that markets are most advantageous in areas where high-powered incentives are desirable, but in areas where … high-powered incentives stimulate unproductive signalling effort, firms, or even government, may have a comparative … advantage. Firms may be able to weaken incentives and improve efficiency by obscuring information about individual workers …
Persistent link: https://www.econbiz.de/10012468896
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Markets Versus Governments : Political Economy of Mechanisms
Acemoglu, Daron - 2006
We study the optimal Mirrlees taxation problem in a dynamic economy with idiosyncratic (productivity or preference) shocks. In contrast to the standard approach, which implicitly assumes that the mechanism is operated by a benevolent planner with full commitment power, we assume that any...
Persistent link: https://www.econbiz.de/10012466444
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Bayesian Learning in Social Networks
Acemoglu, Daron - 2008
We study the perfect Bayesian equilibrium of a model of learning over a general social network. Each individual receives a signal about the underlying state of the world, observes the past actions of a stochastically-generated neighborhood of individuals, and chooses one of two possible actions....
Persistent link: https://www.econbiz.de/10012464607
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Fast and Slow Learning From Reviews
Acemoglu, Daron - 2017
This paper develops a model of Bayesian learning from online reviews, and investigates the conditions for asymptotic learning of the quality of a product and the speed of learning under different rating systems. A rating system provides information about reviews left by previous customers. A...
Persistent link: https://www.econbiz.de/10012453667
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The Perils of High-Powered Incentives : Evidence from Colombia's False Positives
Acemoglu, Daron; Romero Fonseca, Dario; Robinson, James Alan - 2016
High-powered incentives for the military and security services have become a common counterinsurgency strategy over the … last several decades. We investigate the use of such incentives for members of the Colombian army in the long-running civil … colonels have stronger career concerns and should be more responsive to such incentives, we show that there were significantly …
Persistent link: https://www.econbiz.de/10012456062
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AI and Jobs : Evidence from Online Vacancies
Acemoglu, Daron; Autor, David H.; Hazell, Jonathon; … - National Bureau of Economic Research - 2022 - Revised February 2022
We study the impact of AI on labor markets, using establishment level data on vacancies with detailed occupational information comprising the near-universe of online vacancies in the US from 2010 onwards. We classify establishments as "AI exposed" when their workers engage in tasks that are...
Persistent link: https://www.econbiz.de/10012482476
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The Wrong Kind of AI? Artificial Intelligence and the Future of Labor Demand
Acemoglu, Daron - 2019
Artificial Intelligence is set to influence every aspect of our lives, not least the way production is organized. AI, as a technology platform, can automate tasks previously performed by labor or create new tasks and activities in which humans can be productively employed. Recent technological...
Persistent link: https://www.econbiz.de/10012479634
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Harms of AI
Acemoglu, Daron - National Bureau of Economic Research - 2021
This essay discusses several potential economic, political and social costs of the current path of AI technologies. I argue that if AI continues to be deployed along its current trajectory and remains unregulated, it may produce various social, economic and political harms. These include:...
Persistent link: https://www.econbiz.de/10012629467
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Demographics and Automation
Acemoglu, Daron - 2018
We argue theoretically and document empirically that aging leads to greater (industrial) automation, and in particular, to more intensive use and development of robots. Using US data, we document that robots substitute for middle-aged workers (those between the ages of 36 and 55). We then show...
Persistent link: https://www.econbiz.de/10012453293
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Artificial Intelligence, Automation and Work
Acemoglu, Daron - 2018
We summarize a framework for the study of the implications of automation and AI on the demand for labor, wages, and employment. Our task-based framework emphasizes the displacement effect that automation creates as machines and AI replace labor in tasks that it used to perform. This displacement...
Persistent link: https://www.econbiz.de/10012453517