综合经济学
Microsoft's acquisition of Activision Blizzard valued at $68.7 billion has drastically altered the landscape of the video game industry. At the time of the takeover, the intellectual properties of Activision Blizzard included World of…
Stochastic versions of recursive integrated climate-economy assessment models are essential for studying and quantifying policy decisions under uncertainty. However, as the number of state variables and stochastic shocks increases, solving…
The provision of information can improve individual judgments but also fail to make group decisions more accurate; if individuals choose to attend to the same information in the same manner, the predictive diversity that enables crowd…
This paper derives `Scaling Laws for Economic Impacts' -- empirical relationships between the training compute of Large Language Models (LLMs) and professional productivity. In a preregistered experiment, over 500 consultants, data…
The conventional functional form of the Constant-Elasticity-of-Substitution (CES) production function is a general production function nesting a number of other forms of production functions. Examples of such functions include Leontief,…
Purpose: This paper explores gender differences in two distinct forms of risk aversion -- Payoff Risk Aversion (PaRA) and Price Risk Aversion (PrRA) -- in order to provide a more nuanced understanding of how men and women respond to…
Energy efficiency gains in production and consumption are undisputed economic and environmental goals. However, potential energy savings derived from efficiency innovations may have short-lasting effects due to increased demand for more…
What is the impact of private equity (PE) investment on healthcare value? Does PE investment hurt or improve healthcare value, and if so, can its effect be mitigated through the use of health information technologies (IT)? Given the…
This chapter surveys the application of matching theory to school choice, motivated by the shift from neighborhood assignment systems to choice-based models. Since educational choice is not mediated by price, the design of allocation…
This paper presents a novel quantitative approach for comparative economic studies, addressing limitations in current classification methods. Conventional approaches in comparative economics often rely on ad hoc and categorical…
This article expands Milton Friedman's spending matrix to analyse 'spending efficiency' and 'preference compatibility' across different economic systems against five key outcome criteria. By generalising Friedman's typology, it compares…
We find that event features extracted by large language models (LLMs) are effective for text-based stock return prediction. Using a pre-trained LLM to extract event features from news articles, we propose a novel deep learning model based…
We leverage multimodal large language models (LLMs) to construct a dataset of 306,070 German patents (1877-1918) from 9,562 archival image scans using our LLM-based pipeline powered by Gemini-2.5-Pro and Gemini-2.5-Flash-Lite. Our…
This paper investigates how institutional wage-setting constraints, such as a national minimum wage or collectively bargained wages, affect firm responses to demand shocks. We develop a framework to interpret heterogeneous shock responses…
Artificial intelligence has become a key arena of global technological competition and a central concern for Europe's quest for technological sovereignty. This paper analyzes global AI patenting from 2010 to 2023 to assess Europe's position…
Business growth is a goal of great importance for its both private and social benefits. Many firms view business growth as an imperative for their survival, stability, and long-term success. Business growth can be socially beneficial, too,…
A large literature has documented transitivity as a key feature of social networks: individuals are more likely connected with each other if they share common connections with other individuals. We take this idea to trading relationships…
This paper examines wage returns to labor-market experience with a focus on immigrant assimilation and the portability of foreign-acquired human capital. Using U.S. Census and American Community Survey microdata from IPUMS, I study a sample…
Society as a whole faces a host of economic tradeoffs, many of which emerge around economic policies. An example of tradeoffs that any society faces in many economic realms is the tradeoff between economic efficiency and income equality…
We develop a new identification strategy for demand estimation when cost shifters may not be available and there are substantial variations in demand over time. This approaches relies on a kind of nonlinear difference-in-differences, in…