This paper uses data from global and Canadian surveys data to estimate the powerful linkages between social connections, their related social identities, and subjective well-being. Our explanatory variables include several measures of the extent and frequency of use of social networks, combined...

This paper has a double purpose: to see how well Durkheim's (1897) findings apply a century later, and to see if the beneficial effects of social capital on suicide prevention are parallel to those already found for subjective well-being (Helliwell 2003). The results show that more social...

This paper surveys evidence documenting positive linkages among social capital, prosocial behaviour, and subjective well-being. Whether in the workplace, at home, in the community, or among nations, better and deeper social connections, and especially higher levels of trust are linked to higher...

As artificial intelligence (AI) becomes more powerful and widespread, the AI alignment problem--how to ensure that AI systems pursue the goals that we want them to pursue--has garnered growing attention. This article distinguishes two types of alignment problems depending on whose goals we...

Entitlement programs have become an increasing component of total government spending in the US over the last six decades. To some observers, this growth of the welfare state is excessive and unwarranted. To others, it is a welcome counter-acting force to the rapid increase in income inequality....

We study an economy subject to recurrent disasters when agents have imprecise information about the frequency and duration of the disasters. Uncertainty about the persistence of states can lead to seemingly pessimistic behavior in bad times and optimistic behavior in good times. In a disaster,...

We show how to measure the welfare effects arising from increased data availability. When lenders have more data on prospective borrower costs, they can charge prices that are more aligned with these costs. This increases total social welfare, and transfers surplus from borrowers to lenders. We...

Products with negative externalities are often subject to regulations that limit competition. The single-product case may suggest that it is irrelevant for aggregate welfare whether output is restricted via corrective taxes or limiting competition. However, when products are differentiated...

A key contention in economics is the discrepancy between micro and macro elasticities of labor supply with respect to marginal tax rates. We revisit this question, focusing on the role of dynamic returns to effort among top earners. We develop a new model of earnings responses to taxes in the...

How strong are peer effects on the beliefs and spending decisions of individuals? We use a randomized control study in which treated households are told about either average income or debt of individuals like them to assess how peer effects influence their beliefs and spending. The information...