The Rise of Artificially Intelligent Agents Rapid advances in AI imply that machines increasingly behave like artificially intelligent agents (AIAs). This raises fundamental questions about what an economy with AIAs will look like – questions that stretch from the allocation of resources between humans and non-humans to the potential for Read more…

Teamwork, Technology Combinations, and Value of Innovation ABSTRACT: We examine the role of teamwork in the inventive process. We show that a better ability of an invention team to combine interdependent technologies results in innovations with both higher scientific and private economic value, leads to more breakthroughs in innovations, helps Read more…

COSTS, CROSS-SUBSIDIES, AND COLLEGE SAVINGS: EVALUATING SECTION 529 SAVINGS PLANS ABSTRACT:  Americans collectively save hundreds of billions of dollars for their children’s education in Section 529 college savings plans. These plans are sponsored by states and largely exempt from regulations that typically apply to money management. This is the first Read more…