Related papers: Endogenous Growth Under Multiple Uses of Data
As the digital economy grows increasingly intangible, traditional productivity measures struggle to capture the true economic impact of artificial intelligence (AI). AI systems capable of cognitive work significantly enhance productivity,…
Information and communication technologies are permeating all aspects of industrial and manufacturing systems, expediting the generation of large volumes of industrial data. This article surveys the recent literature on data management as…
We investigate the emergence of synchronization in a network of coupled chaotic macroeconomic systems. Each node represents an economy characterized by three key variables savings, gross domestic product (GDP), and foreign capital inflows.…
In many two-sided markets, the parties to be matched have incomplete information about their characteristics. We consider the settings where the parties engaged are extremely patient and are interested in long-term partnerships. Hence, once…
Today, web-based companies use user data to provide and enhance services to users, both individually and collectively. Some also analyze user data for other purposes, for example to select advertisements or price offers for users. Some even…
Innovation records often exhibit "hockey-stick" patterns of abrupt, near-singular growth at the collective level. However, this macroscopic explosiveness stands in stark contrast to individual discovery, which remains bounded by cognitive…
The processes of ecological interactions, dispersal and mutations shape the dynamics of biological communities, and analogous eco-evolutionary processes acting upon economic entities have been proposed to explain economic change. This…
Data is the central commodity of the digital economy. Unlike physical goods, it is non-rival, replicable at near-zero cost, and traded under heterogeneous licensing rules. These properties defy standard supply--demand theory and call for…
An important question that often arises in the operation of networked systems is whether to collect the real-time data or to estimate them based on the previously collected data. Various factors should be taken into account such as how…
We examine the dynamics of informational efficiency in a market with asymmetrically informed, boundedly rational traders who adaptively learn optimal strategies using simple multiarmed bandit (MAB) algorithms. The strategies available to…
Data collection is pervasively bound to our digital lifestyle. A recent study by the IDC reports that the growth of the data created and replicated in 2020 was even higher than in the previous years due to pandemic-related confinements to…
Over the years, the growing availability of extensive datasets about registered patents allowed researchers to better understand technological innovation drivers. In this work, we investigate how the technological contents of patents…
Data sharing issues pervade online social and economic environments. To foster social progress, it is important to develop models of the interaction between data producers and consumers that can promote the rise of cooperation between the…
With recent development of artificial intelligence, it is more common to adopt AI agents in economic activities. This paper explores the economic actions of agents, including human agents and AI agents, in an economic game of trading…
In the context of Industry 4.0, the manufacturing sector is increasingly facing the challenge of data usability, which is becoming a widespread phenomenon and a new contemporary concern. In response, Data Governance (DG) emerges as a viable…
The use of data-driven decision support by public agencies is becoming more widespread and already influences the allocation of public resources. This raises ethical concerns, as it has adversely affected minorities and historically…
This paper studies the impact of Demand-pull (DP) and Technology-push (TP) on growth, innovation, and the factor bias of technological change in a two-layer network of input-output (market) and patent citation (innovation) links among 307…
We characterize the outcomes of a canonical deterministic model for the intergenerational transmission of capital that features differential fertility. A fertility function determines the relationship between parental capital and the number…
We study several models of growth driven by innovation and imitation by a continuum of firms, focusing on the interaction between the two. We first investigate a model on a technology ladder where innovation and imitation combine to…
In this short paper, we define the investment ability of data investors in the data economy and its heterogeneity. We further construct an analytical heterogeneous agent model to demonstrate that differences in data investment ability lead…