综合经济学
In many non-cooperative settings, agents often possess useful information that provide an advantage over their opponent(s), but acting on such information too frequently can lead to detection. I develop a simple framework to analyze such a…
Existing studies have shown that the monetization of silver in the Ming Dynasty effectively promoted the prosperity of trade in the Ming Dynasty, while the prices of labor, handicraft products and grain were long suppressed by the deformed…
Research on the role of Large Language Models (LLMs) in business models and services is limited. Previous studies have utilized econometric models, technical showcases, and literature reviews. However, this research is pioneering in its…
This paper proposes a new measure of relative intergenerational mobility along the educational trait as a proxy of inequality of opportunity. The new measure is more suitable for controlling for the variations in the trait distributions of…
This paper contributes to the literature on parametric demand estimation by using deep learning to model consumer preferences. Traditional econometric methods often struggle with limited within-product price variation, a challenge addressed…
This report documents the development, test, and application of Large Language Models (LLMs) for automated text analysis, with a specific focus on gambling-like elements in digital games, such as lootboxes. The project aimed not only to…
The Global Change Analysis Model (GCAM) simulates complex interactions between the coupled Earth and human systems, providing valuable insights into the co-evolution of land, water, and energy sectors under different future scenarios.…
The integration of artificial intelligence (AI) into the workplace is advancing rapidly, necessitating robust metrics to evaluate its tangible impact on the labour market. Existing measures of AI occupational exposure largely focus on AI's…
We conduct a field experiment on a movie-recommendation platform to investigate whether and how online recommendations influence consumption choices. Using a within-subjects design, our experiment measures the causal effect of…
The classical DICE model is a widely accepted integrated assessment model for the joint modeling of economic and climate systems, where all model state variables evolve over time deterministically. We reformulate and solve the DICE model as…
Current theories of decision making suggest that the neural circuits in mammalian brains (including humans) computationally combine representations of the past (memory), present (perception), and future (agentic goals) to take actions that…
Immigration is often blamed for increasing unemployment among local workers. This sentiment is reflected in the rise of anti-immigration parties and policies in Western democracies. And in fact, numerous studies estimate that in the short…
A randomized experiment with almost 35 million Pandora listeners enables us to measure the sensitivity of consumers to advertising, an important topic of study in the era of ad-supported digital content provision. The experiment randomized…
Trade imbalances significantly alter the welfare implications of tariffs. Using an illustrative model, we show that trade deficits enhance a country's ability to alter its terms of trade, and thereby benefit from tariffs. Greater trade…
This paper explores how ad platforms can utilize Bayesian persuasion within blockchain-based auction systems to strategically influence advertiser behavior despite increased transparency. By integrating game-theoretic models with machine…
This paper derives "scaling laws"--empirical relationships between the training compute of Large Language Models (LLMs) and their performance--for economic outcomes. In a preregistered online experiment, 300 professional translators…
We construct a novel unified merger list in the global container shipping industry between 1966 (the beginning of the industry) and 2022. Combining the list with proprietary data, we construct a structural matching model to describe the…
I argue that generative AI will have an uneven effect on the evolution of the law. To do so, I consider generative AI as a labor-augmenting technology that reduces the cost of both writing more complete contracts and litigating in court.…
As the global population and the per capita demand for resource intensive diets continues to grow, the corresponding increase in food demand challenges the global food system, enhancing its reliance on trade. Most previous research…
We propose a machine learning algorithm for solving finite-horizon stochastic control problems based on a deep neural network representation of the optimal policy functions. The algorithm has three features: (1) It can solve…