Recent artificial intelligence advances can be seen as improvements in prediction. We examine how such predictions should be priced. We model two inputs into decisions: a prediction of the state and the payoff or utility from different actions in that state. The payoff is unknown, and can only...

We interpret recent developments in the field of artificial intelligence (AI) as improvements in prediction technology. In this paper, we explore the consequences of improved prediction in decision-making. To do so, we adapt existing models of decision-making under uncertainty to account for the...

Online advertising is increasingly subject to antitrust scrutiny, but there is a lack of empirical analysis on whether the large offline advertising market disciplines the online advertising market. Here, we summarize two empirical analyses that begin to fill this void by showing an effect of...