Recent advances in AI represent improvements in prediction. We examine how decision-making and risk management strategies change when prediction improves. The adoption of AI may cause substitution away from risk management activities used when rules are applied (rules require always taking the...

Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks. However, this procedure can still lead to potential attacks...

Permissionless blockchains were constructed with a view to being sustainably secure. At the heart of blockchain consensus mechanisms was an explicit cost (whether it be work or stake) for participation in the network and the opportunity to propose blocks that would be added to the blockchain. A...

We ask whether a technical objective of using human performance of tasks as a benchmark for AI performance will result in the negative outcomes highlighted in prior work in terms of jobs and inequality. Instead, we argue that task automation, especially when driven by AI advances, can enhance...

How should theory-based entrepreneurs search for strategies to implement their ideas? The theory-based view of strategy posits that decision-makers hold theories about their environment premised on beliefs that should be actively tested. This causal framework, which underlies the theory-based...