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Economic model predictive control has been proposed as a means for solving the unit loading and unit allocation problem in multi-chiller cooling plants. The adjective economic stems from the use of financial cost due to electricity…
The rise of AI has been rapid, becoming a leading sector for investment and promising disruptive impacts across the economy. Within the critical analysis of the economic impacts, AI has been aligned to the critical literature on data power…
In recent years, artificial intelligence (AI) decision-making and autonomous systems became an integrated part of the economy, industry, and society. The evolving economy of the human-AI ecosystem raising concerns regarding the risks and…
We revisit a recently introduced agent model[ACS {\bf 11}, 99 (2008)], where economic growth is a consequence of education (human capital formation) and innovation, and investigate the influence of the agents' social network, both on an…
This position paper argues that there is an urgent need to restructure markets for the information that goes into AI systems. Specifically, producers of information goods (such as journalists, researchers, and creative professionals) need…
The use of artificial intelligence (AI) in the public sector is best understood as a continuation and intensification of long standing rationalization and bureaucratization processes. Drawing on Weber, we take the core of these processes to…
As humanity is becoming increasingly confronted by Earth's finite biophysical limits, there is increasing interest in questions about the stability and equitability of a zero-growth capitalist economy, most notably: if one maintains a…
The integration of AI agents into economic markets fundamentally alters the landscape of strategic interaction. We investigate the economic implications of expanding the set of available technologies in three canonical game-theoretic…
Motivated by concerns that AI-driven entry-level automation may deprive new generations of valuable work experience, this paper studies how technological change affects the intergenerational transmission of tacit knowledge -- practical,…
The money market and the capital market of the Indian financial markets have a symbiotic relationship in the development of the Indian economy. The nature and the characteristics of the markets differ to a large extent as the money market…
Autonomous systems, including generative AI, have been adopted faster than previous digital innovations. Their impact on society might as well be more profound, with a radical restructuring of the economy of knowledge and dramatic…
In the pursuit of ever increasing efficiency and growth, our economies have evolved to remarkable degrees of complexity, with nested production processes feeding each other in order to create products of greater sophistication from less…
This paper explores the transformative impact of Generative AI (GenAI) on the business landscape, examining its role in reshaping traditional business models, intensifying market competition, and fostering innovation. By applying the…
We derive the first closed-form condition under which artificial intelligence (AI) capital profits could sustainably finance a universal basic income (UBI) without relying on new taxation or the creation of new jobs. In a Solow-Zeira…
This paper explores the intricate relationship between capitalism, racial injustice, and artificial intelligence (AI), arguing that AI acts as a contemporary vehicle for age-old forms of exploitation. By linking historical patterns of…
Those best-positioned to profit from the proliferation of artificial intelligence (AI) systems are those with the most economic power. Extant global inequality has motivated Western institutions to involve more diverse groups in the…
Generative artificial intelligence (AI) exhibits the capability to generate creative content akin to human output with greater efficiency and reduced costs. This groundbreaking capability, however, has ignited a debate regarding its…
Generative AI has transformed human-computer interaction by enabling natural language interfaces and the emergence of autonomous agents capable of acting on users' behalf. While early applications have improved individual productivity,…
This paper presents a dynamic model to study the impact on the economic outcomes in different societies during the Malthusian Era of individualism (time spent working alone) and collectivism (complementary time spent working with others).…
Artificial intelligence (AI) signals the beginning of a revolutionary period where technological advancement and social change interact to completely reshape economies, work paradigms, and industries worldwide. This essay addresses the…