Algorithm-based decision support systems play an increasingly important role in decisions involving exploration tasks, such as product searches, portfolio choices, and human resource procurement. These tasks often involve a trade-off between exploration and exploitation, which can be highly...

Can directed technical change be used to combat climate change? We construct new firm-level panel data on auto industry innovation distinguishing between dirty (internal combustion engine) and clean (e.g. electric and hybrid) patents across 80 countries over several decades. We show that firms...