Google users who encounter an AI summary are less likely to click on links to other websites than users who do not see one. But Google won't kill the content market...[1/3]
www.pewresearch.org/short-reads/...

What happens if you put a full scientific paper into AI and ask it to find known errors in proofs, tables, etc?

Every model before o3 fails completely, o3 gets 21% (its better at proofs, worse at tables & figures). Progress & useful as a second opinion/co-intelligence, not yet autonomous science.

Paper on the economics of AI competition shows new AI models are adopted very rapidly but are not always substitutes for each other (better models in the same family often substitute, but others expand the pie). Also, people use a mix of models. andreyfradkin.com/assets/deman...

Submissions for ItAIS 2025 are now open!

This year, we have a special topic on Information Economics and Decision Analysis.

www.itais.org/conference/2...

Giulia Brancaccio and I are looking for a pre-doc to work with us on topics related to Industrial Organization and Trade
@nyu.edu

Ideally for two years starting in September

apply.interfolio.com/165860

#EconSky #EconRA

Near as I can tell the only people winning out of this are graduate students in macro and trade who needed a random shock to study causal effects.

In this paper Rob and I review Agent-Based Modeling in economics and finance and how it can be used to relax conventional assumptions in standard economic models. We suggest how ABMs might be used in the future to build more realistic models of the economy and examine potential hurdles.

Provoking, to say the least.

Economist @joshgans.bsky.social uses o1-pro to generate a (minor, fun) paper in an hour based on an idea of his, and it gets published in an appropriate peer reviewed journal, with adequate disclosure.

He ends with the same sentiment I am increasingly seeing from fellow academics: what now?

Competition policy that sets market power to 1980s levels would lower the stock market by 45%. The remainder, due to accumulated retained earnings (35%) and a lower risk-free rate (20%), is unaffected.

chain of thought is hilarious

(distilled deepseek 14b running via ollama)

Happy to share our latest work on GenAI and competition. #GenAI may reduce content and increase its price when it summarizes content that can be found on the Web, such as Wikipedia or news articles. But not all markets will suffer the same fate...
#EconSky

link.springer.com/article/10.1...

Hi! I'm Manuel, an economist working on platform competition, AI and market simulations. I mostly read but write little. Nonetheless, views are my own.