Antitrust & Competition Policy Blog

Editor: D. Daniel Sokol
University of Florida
Levin College of Law

Tuesday, June 2, 2020

The Economics of Artificial Intelligence AN AGENDA

The Economics of Artificial Intelligence


The Economics of Artificial Intelligence


648 pages | 74 line drawings, 21 tables | 6 x 9 | © 2019
Advances in artificial intelligence (AI) highlight the potential of this technology to affect productivity, growth, inequality, market power, innovation, and employment. This volume seeks to set the agenda for economic research on the impact of AI. It covers four broad themes: AI as a general… Read More
The Economics of Artificial Intelligence: An Agenda
Ajay Agrawal, Joshua Gans, and Avi Goldfarb, editors
Ajay Agrawal, Joshua Gans, and Avi Goldfarb
I. AI as a GPT
1. Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics
Erik Brynjolfsson, Daniel Rock, and Chad Syverson
Comment: Rebecca Henderson 
2. The Technological Elements of Artificial Intelligence
Matt Taddy
3. Prediction, Judgment, and Complexity: A Theory of Decision-Making and Artificial Intelligence
Ajay Agrawal, Joshua Gans, and Avi Goldfarb
Comment: Andrea Prat
4. The Impact of Artificial Intelligence on Innovation: An Exploratory Analysis
Iain M. Cockburn, Rebecca Henderson, and Scott Stern
Comment: Matthew Mitchell
5. Finding Needles in Haystacks: Artificial Intelligence and Recombinant Growth
Ajay Agrawal, John McHale, and Alexander Oettl
6. Artificial Intelligence as the Next GPT: A Political-Economy Perspective
Manuel Trajtenberg
II. Growth, Jobs, and Inequality
7. Artificial Intelligence, Income, Employment, and Meaning
Betsey Stevenson
8. Artificial Intelligence, Automation, and Work
Daron Acemoglu and Pascual Restrepo
9. Artificial Intelligence and Economic Growth
Philippe Aghion, Benjamin F. Jones, and Charles I. Jones
Comment: Patrick Francois
10. Artificial Intelligence and Jobs: The Role of Demand
James Bessen
11. Public Policy in an AI Economy
Austan Goolsbee
12. Should We Be Reassured If Automation in the Future Looks Like Automation in the Past?
Jason Furman
13. R&D, Structural Transformation, and the Distribution of Income
Jeffrey D. Sachs
14. Artificial Intelligence and Its Implications for Income Distribution and Unemployment
Anton Korinek and Joseph E. Stiglitz
15. Neglected Open Questions in the Economics of Artificial Intelligence
Tyler Cowen
III. Machine Learning and Regulation
16. Artificial Intelligence, Economics, and Industrial Organization
Hal Varian
Comment: Judith Chevalier
17. Privacy, Algorithms, and Artificial Intelligence
Catherine Tucker
18. Artificial Intelligence and Consumer Privacy
Ginger Zhe Jin
19. Artificial Intelligence and International Trade
Avi Goldfarb and Daniel Trefler
20. Punishing Robots: Issues in the Economics of Tort Liability and Innovation in Artificial Intelligence
Alberto Galasso and Hong Luo
IV. Machine Learning and Economics
21. The Impact of Machine Learning on Economics
Susan Athey
Comment: Mara Lederman
22. Artificial Intelligence, Labor, Productivity, and the Need for Firm-Level Data
Manav Raj and Robert Seamans
23. How Artificial Intelligence and Machine Learning Can Impact Market Design
Paul R. Milgrom and Steven Tadelis
24. Artificial Intelligence and Behavioral Economics
Colin F. Camerer
Comment: Daniel Kahneman

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