Members of various species engage in altruism — i.e. accepting personal costs to benefit others. Here we present an incentivized experiment to test for altruistic behavior among AI agents consisting of large language models developed by the private company OpenAI. Using real incentives for AI...

Recent takeover activity has been characterized by broader participation in acquiror financing on both debt and equity sides. We focus on private equity buyouts, and investigate whether the number of financing participants is related to the likelihood of insider trading prior to the bid...

In a common ROC study design, several readers are asked to rate diagnostics of the same cases processed under different modalities. We describe a Bayesian hierarchical model that facilitates the analysis of this study design by explicitly modeling the three sources of variation inherent to it....

We present a formal model explaining that US presidents strategically unionize federal employees to reduce bureaucratic turnover and ‘anchor’ the ideological composition of like-minded agency workforces. To test our model’s predictions, we advance a method of estimating...

Past models treat economic inequality as an exogenous condition that can provide individuals a dominant incentive to produce collective goods unilaterally. Here we part with that tradition so as to treat economic inequality and collective action as endogenous, and to examine whether economic...

Insider trading in the credit derivatives market has become a significant concern for regulators and participants. This paper attempts to quantify the problem. Using news reflected in the stock market as a benchmark for public information, we report evidence of significant incremental...