Related papers: Endogenous Growth Under Multiple Uses of Data
The Big Data is the most popular paradigm nowadays and it has almost no untouched area. For instance, science, engineering, economics, business, social science, and government. The Big Data are used to boost up the organization performance…
While the use of spatial agent-based and individual-based models has flourished across many scientific disciplines, the complexities these models generate are often difficult to manage and quantify. This research reduces population-driven,…
This paper develops a micro-founded economic theory of the AI industry by modeling large language models as a distinct asset class-Digital Intelligence Capital-characterized by data-compute complementarities, increasing returns to scale,…
This study reviews the topic of big data management in the 21st-century. There are various developments that have facilitated the extensive use of that form of data in different organizations. The most prominent beneficiaries are internet…
Urban agglomerations are constantly and rapidly evolving ecosystems, with globalization and increasing urbanization posing new challenges in sustainable urban development well summarized in the United Nations' Sustainable Development Goals…
Currently, experts from IT industry are closely monitoring the soaring total volume of digital data. Moreover the problem is not purely technical, it directly affects human civilization as a whole. The growth rate of the all increasing and…
With the rapid development of artificial intelligence (AI) technology, socio-economic systems are entering a new stage of "human-AI co-creation." Building upon a previously established multi-level intelligent agent economic model, this…
Knowledge acquisition by consumers is a key process in the diffusion of innovations. However, in standard theories of the representative agent, agents do not learn and innovations are adopted instantaneously. Here, we show that in a…
Knowledge spillovers occur when a firm researches a new technology and that technology is adapted or adopted by another firm, resulting in a social value of the technology that is larger than the initially predicted private value. As a…
We study how a monopolist's use of consumer data for price discrimination affects welfare. To answer this question, we develop a model of market segmentation subject to residual uncertainty. We fully characterize when data usage…
With the increasing complexity of collaboration among various social entities and user demands, the factors affecting the stable development of the data service market are also growing. These factors include the widespread dissemination of…
The process of market digitization at the world level and the increasing and extended usage of digital devices reshaped the way consumers employ their leisure time, with the emergence of what can be called digital leisure. This new type of…
We examine identification of differentiated products demand when one has "micro data" linking individual consumers' characteristics and choices. Our model nests standard specifications featuring rich observed and unobserved consumer…
This study investigates an optimal consumption--investment problem in which the unobserved stock trend is modulated by a hidden Markov chain that represents different economic regimes. In the classical approach, the hidden state is…
In the current data driven era, synthetic data, artificially generated data that resembles the characteristics of real world data without containing actual personal information, is gaining prominence. This is due to its potential to…
Central to the official "green growth" discourse is the conjecture that absolute decoupling can be achieved with certain market instruments. This paper evaluates this claim focusing on the role of technology, while changes in GDP…
We study a three-layer data market comprising users (data owners), platforms, and a data buyer. Each user benefits from platform services in exchange for data, incurring privacy loss when their data, albeit noisily, is shared with the…
We study a dynamic model in which a principal monitors agents based on historical data of infractions. This data informs when and at what intensity to monitor; the monitoring decision, in turn, selects the collected data, shaping the…
A detailed empirical analysis of the productivity of non financial firms across several countries and years shows that productivity follows a non-Gaussian distribution with power law tails. We demonstrate that these empirical findings can…
There are clear benefits associated with a particular consumer choice for many current markets. For example, as we consider here, some products might carry environmental or `green' benefits. Some consumers might value these benefits while…