Related papers: Is there a size premium for nations?
The distribution of living languages is investigated and scaling relations are found for the diversity of languages as a function of the country area and population. These results are compared with data from Ecology and from computer…
Large language models (LLMs) have been proposed as alternatives to human experts for estimating unknown quantities with associated uncertainty, a process known as Bayesian elicitation. We test this by asking eleven LLMs to estimate…
The pursuit of having an appropriate level of income inequality should be viewed as one of the biggest challenges facing academic scholars as well as policy makers. Unfortunately, research on this issue is currently lacking. This study is…
While running any experiment, we often have to consider the statistical power to ensure an effective study. Statistical power or power ensures that we can observe an effect with high probability if such a true effect exists. However,…
In this work the properties of multi choice minority games are studied by means of extensive computational simulations. We have considered several ways of rewarding the strategies of the players and compared the resulting behaviours of the…
Industries can enter one country first, and then enter its neighbors' markets. Firms in the industry can expand trade network through the export behavior of other firms in the industry. If a firm is dependent on a few foreign markets, the…
Large language models (LLMs) are increasingly being deployed in high-stakes applications like hiring, yet their potential for unfair decision-making remains understudied in generative and retrieval settings. In this work, we examine the…
We study the welfare effects of overreaction to information in the form of diagnostic expectations in markets with asymmetric information, and the effect of a simple intervention in the form of a tax or a subsidy. A large enough level of…
GDP is a vital measure of a country's economic health, reflecting the total value of goods and services produced. Forecasting GDP growth is essential for economic planning, as it helps governments, businesses, and investors anticipate…
Incentives have surprisingly inconsistent effects when it comes to encouraging people to behave prosocially. Classical economic theory, according to which a specific behavior becomes more prevalent when it is rewarded, struggles to explain…
The share of the world population living in cities with more than one million people rose from 11% in 1975 to 24% in 2025 (our estimates). Will this trend towards greater concentration in large cities continue or level off? We introduce two…
Understanding cities is central to addressing major global challenges from climate and health to economic resilience. Although increasingly perceived as fundamental socio-economic units, the detailed fabric of urban economic activities is…
We develop a theoretical framework to investigate the link between rising scale economies and stagnating productivity. Our model features heterogeneous firms, imperfect competition, and firm selection. We demonstrate that scale economies…
In accordance with "Democracy's Effect on Development: More Questions than Answers", we seek to carry out a study in following the description in the 'Questions for Further Study.' To that end, we studied 33 countries in the Sub-Saharan…
The appropriate discount rate for evaluating policies is a critical consideration in economic decision-making. This paper presents a new model for calculating the derived discount rate for a society that includes different groups with…
Various factors influence why some countries are more open to immigration than others. Policy is only one of them. We design country-specific measures of openness to immigration that aim to capture de facto levels of openness to…
This study investigates possibility and impossibility results of the repugnant and sadistic conclusions in population ethics and economics. The repugnant conclusion says that an enormous population with very low well-being is socially…
Adapting a simple biological model, we study the effects of control on the market. Companies are depicted as sites on a lattice and labelled by a fitness parameter (some `company-size' indicator). The chance of survival of a company on the…
Understanding scaling relations of social and environmental attributes of urban systems is necessary for effectively managing cities. Urban scaling theory (UST) has assumed that population density scales positively with city size. We…
Superlinear scaling in cities, which appears in sociological quantities such as economic productivity and creative output relative to urban population size, has been observed but not been given a satisfactory theoretical explanation. Here…