Related papers: Cognitive Aging and Labor Share
Standard macroeconomic models assume that households are rational in the sense that they are perfect utility maximizers, and explain economic dynamics in terms of shocks that drive the economy away from the stead-state. Here we build on a…
We consider in a market model the cooperative emergence of value due to a positive feedback between perception of needs and demand. Here we consider also a negative feedback from production of the traded products, and find that this…
The question of why we age is a fundamental one. It is about who we are, and it also might have critical practical aspects as we try to find ways to age slower. Or to not age at all. Different reasons point at distinct strategies for the…
What looks like acceleration can be a quiet transfer of burden from the present to the future. Attempts to replace human labor with AI systems are often presented as rational responses to technological progress, but that view is often…
The analysis of the demographic transition of the past century and a half, using both empirical data and mathematical models, has rendered a wealth of well-established facts, including the dramatic increases in life expectancy. Despite…
Economic complexity measures aim to quantify the capability content or endowment of industries and territories; however, capabilities are not observable, and therefore cannot be directly used in the computations. We estimate such endowments…
Despite its historical and biological stability, the sex ratio at birth (SRB) has risen in parts of the world in the last several decades. The resultant demographic consequences, mostly on sex imbalance, are well documented, typically…
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…
Categorization is an essential component for us to understand the world for ourselves and to communicate it collectively. It is therefore important to recognize that classification system are not necessarily static, especially for economic…
Cognitive endurance -- the ability to sustain performance on a cognitively-demanding task over time -- is thought to be a crucial productivity determinant. However, a lack of data on this variable has limited researchers' ability to…
Heterogeneity of economic agents is emphasized in a new trend of macroeconomics. Accordingly the new emerging discipline requires one to replace the production function, one of key ideas in the conventional economics, by an alternative…
Cognitive effort, defined as the relationship between cognitive load and task performance, provides insight into how individuals allocate mental resources during demanding tasks. This construct is particularly important in high-stakes…
Typically, fair machine learning research focuses on a single decisionmaker and assumes that the underlying population is stationary. However, many of the critical domains motivating this work are characterized by competitive marketplaces…
Most existing notions of algorithmic fairness are one-shot: they ensure some form of allocative equality at the time of decision making, but do not account for the adverse impact of the algorithmic decisions today on the long-term welfare…
Throughout the modern era, when new technologies displaced workers, societies adapted through the same mechanism: education raised the cognitive ceiling, producing workers capable of tasks machines could not yet reach. Generative AI may be…
Cognitive ageing seems to be a story of global degradation. As one ages there are a number of physical, chemical and biological changes that take place. Therefore it is logical to assume that the brain is no exception to this phenomenon.…
The average and median income dependence on work experience and time is analyzed and modeled for the USA. The original data set providing the mean and median income estimates in 10 year long intervals spans a long time period of almost 35…
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…
Recent debates over adults' theory of mind use have been fueled by surprising failures of perspective-taking in communication, suggesting that perspective-taking can be relatively effortful. How, then, should speakers and listeners allocate…
Economists have mainly focused on human capital accumulation rather than on the causes and consequences of human capital depreciation in late adulthood. To investigate how human capital depreciates over the life cycle, we examine how a…