This paper presents novel evidence for the prevalence of deviations from rational behavior in human decision making – and for the corresponding causes and consequences. The analysis is based on move-by-move data from chess tournaments and an identification strategy that compares behavior of...

In this paper, we show the causal influence of the launch of generative AI in the form of ChatGPT on the search behavior of young people for apprenticeship vacancies. There is a strong and long-lasting decline in the intensity of searches for vacancies, which suggests great uncertainty among the...

The advent of the internet, and more recently of artificial intelligence (AI), has challenged academic and other institutions to ensure ethical practices and reward/promote true merit. The borderless and relatively anonymous nature of the internet creates policing challenges, leading to the...

We study the effect of Artificial Intelligence (AI) on employment across US commuting zones over the period 2000-2020. A simple model shows that AI can automate jobs or complement workers, and illustrates how to estimate its effect by exploiting variation in a novel measure of local exposure to...

Attention is a pivotal resource in the modern economy and plays an increasingly prominent role in economic analysis. We summarize research on attention from both psychology and economics, placing a particular emphasis on its capacity to explain numerous documented violations of classical...

This paper assesses the impact of US policy responses to the Covid-19 pandemic on various cryptocurrencies and also technology stocks using fractional integration techniques. More precisely, it analyses the behaviour of the percentage returns in the case of nine major coins (Bitcoin - BITC,...

Economic theory provides ambiguous and conflicting predictions about the association between algorithmic pricing and competition. In this paper we provide the first empirical analysis of this relationship. We study Germany’s retail gasoline market where algorithmic-pricing software became...

Qualitative interviews are one of the fundamental tools of empirical social science research and give individuals the opportunity to explain how they understand and interpret the world, allowing researchers to capture detailed and nuanced insights into complex phenomena. However, qualitative...

We show that the recently released text-based artificial intelligence tool GPT-4 can provide suitable financial advice. The tool suggests specific investment portfolios that reflect an investor's individual circumstances such as risk tolerance, risk capacity, and sustainability preference....

The use of Artificial Intelligence (AI) in recruitment is rapidly increasing and drastically changing how people apply to jobs and how applications are reviewed. In this paper, we use two field experiments to study how AI recruitment tools can impact gender diversity in the male-dominated...