artificial intelligence, Blockchain

Falling Costs: Two Non-Technical Papers

This is just a pointer to two new (non-technical) papers of mine that look at the implications of various falling costs associated with new technologies.

The first is a much longer version of the blog post earlier this week on the simple economics of artificial intelligence. “Managing the Machines” co-authored with Ajay Agrawal and Avi Goldfarb looks at how new developments in machine intelligence is lowering the cost of prediction and, as a consequence, placing new emphasis on the role for human judgment.

The second is a paper co-authored with Christian Catalini on “Some Simple Economics of the Blockchain.” There, we look at how the blockchain may lead to a dramatic reduction in the cost of verification and how this may stimulate new economic activity.

One thought on “Falling Costs: Two Non-Technical Papers

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s