Related papers: Long Tails, Automation and Labor
Generative AI is altering work processes, task composition, and organizational design, yet its effects on employment and the macroeconomy remain unresolved. In this review, we synthesize theory and empirical evidence at three levels. First,…
We analyze export data aggregated at world global level of 219 classes of products over a period of 39 years. Our main goal is to set up a dynamical model to identify and quantify plausible mechanisms by which the evolutions of the various…
The potential impact of automation on the labor market is a topic that has generated significant interest and concern amongst scholars, policymakers, and the broader public. A number of studies have estimated occupation-specific risk…
The emergence of the modern gig economy introduces a new set of employment considerations for firms and laborers that include various trade-offs. With a game-theoretical approach, we examine the influences of technology, policy and markets…
Technological improvement is the most important cause of long-term economic growth. We study the effects of technology improvement in the setting of a production network, in which each producer buys input goods and converts them to other…
This paper uses firm-level data recorded in the AMADEUS database to investigate the distribution of labour productivity in different European countries. We find that the upper tail of the empirical productivity distributions follows a…
Labor market institutions are central for modern economies, and their polices can directly affect unemployment rates and economic growth. At the individual level, unemployment often has a detrimental impact on people's well-being and…
Tail risk protection is in the focus of the financial industry and requires solid mathematical and statistical tools, especially when a trading strategy is derived. Recent hype driven by machine learning (ML) mechanisms has raised the…
In this paper, we consider the problem of long tail scenario modeling with budget limitation, i.e., insufficient human resources for model training stage and limited time and computing resources for model inference stage. This problem is…
Predicting the states of dynamic traffic actors into the future is important for autonomous systems to operate safelyand efficiently. Remarkably, the most critical scenarios aremuch less frequent and more complex than the uncriticalones.…
Artificial intelligence is reshaping labor markets, yet we lack tools to systematically forecast its effects on employment. This paper introduces a benchmark for evaluating how well large language models (LLMs) can anticipate changes in job…
This paper examines whether artificial intelligence (AI) acts as a substitute or complement to human labour, drawing on 12 million online job vacancies from the United States spanning 2018-2023. We adopt a two-pronged approach: first,…
This article describes mathematical methods for estimating the top-tail of the wealth distribution and therefrom the share of total wealth that the richest $p$ percent hold, which is an intuitive measure of inequality. As the data base for…
The distribution of wealth among the members of a society is herein assumed to result from two fundamental mechanisms, trade and investment. An empirical distribution of wealth shows an abrupt change between the low-medium range, that may…
Economic issues, such as inflation, energy costs, taxes, and interest rates, are a constant presence in our daily lives and have been exacerbated by global events such as pandemics, environmental disasters, and wars. A sustained history of…
Automation is not a new phenomenon, and questions about its effects have long followed its advances. More than a half-century ago, US President Lyndon B. Johnson established a national commission to examine the impact of technology on the…
This paper develops a set of simplified dynamical models with which to explore the conditions under which division of labor leads to optimized system output, as measured by the rate of production of a given product. We consider two models:…
Can cost-reducing technical change lead to a fall in the long run rate of profit if class struggle manages to keep the rate of exploitation constant? In a general circulating capital model, we derive sufficient conditions for cost-reducing…
How to promote the innovative activities is an important problem for modern society. In this paper, combining with the evolutionary games and information spreading, we propose a lattice model to investigate dynamics of human innovative…
Heavy-tailed phenomena appear across diverse domains --from wealth and firm sizes in economics to network traffic, biological systems, and physical processes-- characterized by the disproportionate influence of extreme values. These…