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The Allocation of Decision Authority to Human and Artificial Intelligence
Athey, Susan C. - 2020
The allocation of decision authority by a principal to either a human agent or an artificial intelligence (AI) is …
Persistent link: https://www.econbiz.de/10012479197
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The Effect of Offer-of-Settlement Rules on the Terms of Settlement
Bebchuk, Lucian Arye - 2000
case and may affect the allocation of litigation costs. Specifically, if the parties litigate to judgment, then the … allocation of litigation costs may depend on how the judgment compares with the special offer. This paper develops a model of …
Persistent link: https://www.econbiz.de/10012471084
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Producers and Predators
Grossman, Herschel I. - 1999
This paper explores a series of general-equilibrium models in which people can choose to be either producers or predators, and in which producers can allocate their resources either to production or to guarding their production against predators. The analysis shows how the ratio of predators to...
Persistent link: https://www.econbiz.de/10012471640
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Costly Capital Reallocation and the Effects of Government Spending
Ramey, Valerie A. - 1999
Changes in government spending often lead to significant shifts in demand across sectors. This paper analyzes the effects of sector-specific changes in government spending in a two-sector dynamic general equilibrium model in which the reallocation of capital across sectors is costly. The...
Persistent link: https://www.econbiz.de/10012471736
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Asset Allocation and Risk Allocation : Can Social Security Improve Its Future Solvency Problem by Investing in Private Securities?
MaCurdy, Thomas E. - 1999
This paper examines the economics of investing the central trust fund of Social Security in private securities. We note that switching from a policy of having the trust fund invest solely in special issue Treasury bonds to one where some of the portfolio holds common stocks amounts to an asset...
Persistent link: https://www.econbiz.de/10012471785
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Management and Misallocation in Mexico
Bloom, Nicholas; Iacovone, Leonardo; Pereira-López, Mariana - National Bureau of Economic Research - 2022
We argue that greater misallocation is a key driver of the worse management practices in Mexico compared to the US. These management practices are strongly associated with higher productivity, growth, trade, and innovation. One indicator of greater misallocation in Mexico is the weaker...
Persistent link: https://www.econbiz.de/10012938686
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Who Cares More? Allocation with Diverse Preference Intensities
Ortoleva, Pietro; Safonov, Evgenii; Yariv, Leeat - National Bureau of Economic Research - 2021
similarly but differ in their preference intensities. We characterize optimal allocation rules when individual preferences are …
Persistent link: https://www.econbiz.de/10012629428
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Reserve System Design for Allocation of Scarce Medical Resources in a Pandemic : Some Perspectives from the Field
Pathak, Parag A.; Persad, Govind; Sönmez, Tayfun; … - National Bureau of Economic Research - 2022
The Covid-19 pandemic has brought renewed attention to rationing guidelines for scarce medical resources. This paper describes the benefits of using a reserve system over a priority system in operationalizing compromises between certain ethical goals. In the last two years, more than a dozen...
Persistent link: https://www.econbiz.de/10013210092
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Vaccine Allocation Priorities Using Disease Surveillance and Economic Data
Malani, Anup; Soman, Satej; Ramachandran, Sabareesh; … - National Bureau of Economic Research - 2022
economic benefits. We examine what allocation strategy is optimal and how to translate that strategy into actionable … procurement decisions in the context of India. We compare 3 different allocation strategies (oldest first, highest contact rate …
Persistent link: https://www.econbiz.de/10012814457
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The Allocation of Credit and Financial Collapse
Mankiw, N. Gregory - 1986
This paper examines the allocation of credit in a market in which borrowers have greater information concerning their … own riskiness than do lenders. It illustrates (1) the allocation of credit is inefficientand at times can be improved by … in the allocation of credit and the efficiency of the market equilibrium.These conclusions suggest a role for government …
Persistent link: https://www.econbiz.de/10012477291