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  1. Artificial Intelligence and the economics of decision-making
    Autor*in: Naudé, Wim
    Erschienen: March 2023
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Artificial Intelligence (AI) scientists are challenged to create intelligent, autonomous agents that can make rational decisions. In this challenge, they confront two questions: what decision theory to follow and how to implement it in AI systems.... mehr

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    Artificial Intelligence (AI) scientists are challenged to create intelligent, autonomous agents that can make rational decisions. In this challenge, they confront two questions: what decision theory to follow and how to implement it in AI systems. This paper provides answers to these questions and makes three contributions. The first is to discuss how economic decision theory - Expected Utility Theory (EUT) - can help AI systems with utility functions to deal with the problem of instrumental goals, the possibility of utility function instability, and coordination challenges in multi-actor and human-agent collectives settings. The second contribution is to show that using EUT restricts AI systems to narrow applications, which are "small worlds" where concerns about AI alignment may lose urgency and be better labelled as safety issues. This papers third contribution points to several areas where economists may learn from AI scientists as they implement EUT. These include consideration of procedural rationality, overcoming computational difficulties, and understanding decision-making in disequilibrium situations.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
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    Weitere Identifier:
    hdl: 10419/272627
    Schriftenreihe: Discussion paper series / IZA ; no. 16000
    Schlagworte: economics; artificial intelligence; expected utility theory; decision-theory
    Umfang: 1 Online-Ressource (circa 35 Seiten)
  2. What drives drilling up and prices down?
    a structural vector autoregressive model of the U.S. natural gas market
    Autor*in: Winkler, Valentin
    Erschienen: [2023]
    Verlag:  Macroeconomic Policy Institute (IMK) of Hans-Böckler-Foundation, Düsseldorf, Germany

    This study uses a structural vector autoregressive (SVAR) model to examine the relationships between the intensity of drilling (i.e. investment) for natural gas production, natural gas withdrawals, economic activity and natural gas prices in the... mehr

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    This study uses a structural vector autoregressive (SVAR) model to examine the relationships between the intensity of drilling (i.e. investment) for natural gas production, natural gas withdrawals, economic activity and natural gas prices in the United States. The results show that the reaction of drilling to an unexpected change in natural gas prices depends on the source of the price change. Specifically, I find that the reaction of drilling is significantly stronger after an economic activity shock than after a gas demand shock (e.g. due to oil price fluctuations). In addition, it is shown that demand-side factors were more important than supply-side factors in explaining the 85% drop in natural gas prices from June 2008 to April 2012. This contradicts prevailing explanations focused on shale gas development and should dampen the expectations of policy makers seeking to rapidly expand shale gas production in order to obtain similar cheap energy as the U.S. after 2008.

     
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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/274591
    Schriftenreihe: Working paper / Macroeconomic Policy Institute ; no. 217 (March 2023)
    Schlagworte: natural gas; natural gas prices; energy; energy crisis; fracking; shale gas; gas drilling; gas supply; gas demand; economics; macroeconomics; energy economics; time series; econometrics
    Umfang: 1 Online-Ressource (circa 54 Seiten), Illustrationen
  3. Slow recognition of seminal papers and fast growth of author connectivity in economics
    Autor*in: Haghani, Milad; Hensher, David A.; Greene, William
    Erschienen: January 2023
    Verlag:  Institute of Transport and Logistics Studies, Sydney, NSW, Australia

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    Weitere Identifier:
    hdl: 2123/29969
    Schriftenreihe: Working paper / Institute of Transport and Logistics Studies, The Australian Key Centre in Transport and Logistics Management, The University of Sydney ; ITLS-WP-23, 02
    Schlagworte: economics; temporal analysis; scholarly impact; document co-citation; collaboration
    Umfang: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  4. The conditional influence of poverty, inequality and severity of poverty on economic growth in sub-Saharan Africa
    Autor*in: Asongu, Simplice; Eita, Joel Hinaunye
    Erschienen: [2023]
    Verlag:  African Governance and Development Institute, [Yaoundé]

    Poverty and inequality represent major policy syndromes that are relevant in the achievement of most United Nations' sustainable development goals (SDGs) in sub-Saharan Africa, while economic growth is also essential for the achievement of attendant... mehr

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    Poverty and inequality represent major policy syndromes that are relevant in the achievement of most United Nations' sustainable development goals (SDGs) in sub-Saharan Africa, while economic growth is also essential for the achievement of attendant SDGs. The present study extends existing literature by assessing the conditional influence of poverty, income inequality and severity of poverty on economic growth. The focus is on 42 countries in sub-Saharan Africa with data from 1980 to 2019. The Gini index is used to measure income inequality. Poverty is measured in terms of the poverty headcount ratio while the severity of poverty is computed as the squared of the poverty gap index. The empirical evidence is based on quantile regressions in order to assess how income inequality and poverty dynamics affect economic growth throughout the conditional distribution of economic growth. Our main finding shows that the negative response of economic growth to poverty is a decreasing function of economic growth. In other words, the incidence of poverty in reducing economic growth decreases with increasing levels of economic growth. In two specifications, the effect of inequality is negative in bottom quantiles and positive in top quantiles of the conditional distribution of economic growth. Policy implications are discussed, especially as it pertains to: (i) the relevance of poverty in mitigating economic growth in SSA contingent on initial levels of economic growth and (ii) comparative incidences of poverty and inequality in affecting economic growth.

     
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    Sprache: Englisch
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    Schriftenreihe: AGDI working paper ; WP/23, 022
    Schlagworte: poverty; inequality; economic growth; sub-Saharan Africa; econometrics; economics
    Umfang: 1 Online-Ressource (circa 20 Seiten)
  5. Research similarity and women in academia
    Autor*in: Bello, Piera; Casarico, Alessandra; Nozza, Debora
    Erschienen: September 2023
    Verlag:  CESifo, Munich, Germany

    We investigate the extent to which research similarity between senior and junior researchers influences promotion in academia and study its implications in terms of gender diversity among faculty. Using data on the universe of job applications for... mehr

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    We investigate the extent to which research similarity between senior and junior researchers influences promotion in academia and study its implications in terms of gender diversity among faculty. Using data on the universe of job applications for tenure-track assistant professor positions in economics in Italy and exploiting NLP techniques (i.e., document embeddings) on the abstract of each publication of the scholars in our dataset, we propose a novel measure of research similarity, which can capture closeness in research topics, methodologies or policy relevance between candidates and members of selection committees. We show that the level of similarity is strongly associated with the winning probability. Moreover, while there are no gender differences in average similarity, maximum similarity with members of the selection committee is lower for female candidates. This gender gap disappears when similarity is calculated only focusing on female members of the committee. The results suggest that similarity bias in male-dominated environments can have implications for gender and research diversity.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/282345
    Schriftenreihe: CESifo working papers ; 10657 (2023)
    Schlagworte: cosine similarity; document embeddings; academia; economics; gender differences; labour force composition
    Umfang: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  6. Writing matters
    Autor*in: Feld, Jan; Lines, Corinna; Ross, Libby
    Erschienen: November 2023
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    For papers to have scientific impact, they need to impress our peers in their role as referees, journal editors, and members of conference committees. Does better writing help our papers make it past these gatekeepers? In this study, we estimate the... mehr

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    For papers to have scientific impact, they need to impress our peers in their role as referees, journal editors, and members of conference committees. Does better writing help our papers make it past these gatekeepers? In this study, we estimate the effect of writing quality by comparing how 30 economists judge the quality of papers written by PhD students in economics. Each economist judged five papers in their original version and five different papers that had been language edited. No economist saw both versions of the same paper. Our results show that writing matters. Compared to the original versions, economists judge edited versions as higher quality; they are more likely to accept edited versions for a conference; and they believe that edited versions have a better chance of being accepted at a good journal.

     
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    Weitere Identifier:
    hdl: 10419/282698
    Schriftenreihe: Discussion paper series / IZA ; no. 16571
    Schlagworte: academic writing; writing quality; economics; randomized experiment
    Umfang: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  7. Oaxaca-Blinder meets Kitagawa
    what is the link?
    Autor*in: Oaxaca, Ronald L.; Sierminska, Eva
    Erschienen: May 2023
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Recently, papers have started combining the naming of two popular decomposition methods: the Oaxaca-Blinder method and the Kitagawa method, a popular method in demographics and sociology. Although the two approaches have the same objective in terms... mehr

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    Recently, papers have started combining the naming of two popular decomposition methods: the Oaxaca-Blinder method and the Kitagawa method, a popular method in demographics and sociology. Although the two approaches have the same objective in terms of decomposing outcome differences in some variable of interest between two populations, they are framed quite differently and do not overlap except in a special set of circumstances. Consequently, the combined labeling of these two approaches can be misleading. This note establishes the conditions under which the two methodologies are identical and when they are not. It also provides the citation history of the two methods and examples of "misuses" of the naming convention when the methods are not equivalent, accompanied by a proposal for the way forward.

     
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    hdl: 10419/278886
    Schriftenreihe: Discussion paper series / IZA ; no. 16188
    Schlagworte: decomposition methods; economics; demography
    Umfang: 1 Online-Ressource (circa 24 Seiten), Illustrationen
  8. Illuminating the e-commerce marketing mix
    framework development, marketing tool effects on online patronage, and impact of brand equity
    Autor*in: Klink, Benjamin
    Erschienen: [2023]

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  9. Reducing food loss and waste in the Near East and North Africa
    producers, intermediaries and consumers as key decision-makers
    Autor*in: Anríquez, Gustavo; Foster, William E.; Santos Rocha, Jozimo; Ortega, Jorge; Smolak, Jennifer; Jansen, Sarah
    Erschienen: 2023
    Verlag:  Food and Agriculture Organization of the United Nations, Cairo

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    Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht, Bibliothek
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789251373781
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    Schriftenreihe: Impact of disasters on agriculture and food security ; 2023
    Schlagworte: food losses; food waste; waste reduction; agrifood systems; agricultural transformation; economics; Near East; North Africa
    Umfang: 1 Online-Ressource (circa 116 Seiten)
  10. The political economy of economic policy advice
    Autor*in: Dercon, Stefan
    Erschienen: September 27, 2023
    Verlag:  Centre for the Study of African Economies, Oxford

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    Auflage/Ausgabe: This version September 27, 2023
    Schriftenreihe: CSAE working paper ; WPS/2023, 09
    Schlagworte: policy advice; economics; political economy; Africa
    Umfang: 1 Online-Ressource (circa 18 Seiten), Illustrationen