232 | Amy Finkelstein on Adverse Selection and Hidden Information

232 | Amy Finkelstein on Adverse Selection and Hidden Information

If you knew exactly when every person was going to die, or require medical care, you could make a killing buying and selling insurance. Nobody knows these things, of course -- the future is hard to predict -- but some people know something about the future that other people don't. This sets up adverse selection: the ability of one party to leverage information another party doesn't have, in order to gain an economic advantage. Economist Amy Finkelstein is an expert in this phenomenon, as well as the usefulness of empirical studies in economic research.

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Amy Finkelstein received her Ph.D. in economics from the Massachusetts Institute of Technology. She is currently John & Jennie S. MacDonald Professor of Economics at MIT. She is the co-director and research associate of the Public Economics Program at the National Bureau of Economic Research, and the co-Scientific Director of J-PAL North America. Among her awards are a MacArthur Fellowship and the John Bates Clark Medal. Her recent book, with co-authors Liran Einav and Ray Fisman, is Risky Business: Why Insurance Markets Fail and What to Do About It.


Jaksot(415)

333 | Gordon Pennycook on Unthinkingness, Conspiracies, and What to Do About Them

333 | Gordon Pennycook on Unthinkingness, Conspiracies, and What to Do About Them

Why are people wrong all the time, anyway? Is it because we human beings are too good at being irrational, using our biases and motivated reasoning to convince ourselves of something that isn't quite ...

27 Loka 20251h 10min

332 | Dmitri Tymoczko on the Mathematics Behind Music

332 | Dmitri Tymoczko on the Mathematics Behind Music

Music is math that you can dance to. The fact that certain notes sound good when played together, or in succession, is related to the mathematical properties of the frequencies to which they correspon...

20 Loka 20251h 21min

AMA | October 2025

AMA | October 2025

Welcome to the October 2025 Ask Me Anything episode of Mindscape! These monthly excursions are funded by Patreon supporters (who are also the ones asking the questions). We take questions asked by Pat...

13 Loka 20253h 37min

331 | Solo: Fine-Tuning, God, and the Multiverse

331 | Solo: Fine-Tuning, God, and the Multiverse

Certain features of our universe seem unnatural to us. These include "constants of nature" such as the cosmological constant and the mass of the Higgs boson, as well as features of the initial conditi...

6 Loka 20251h 54min

330 | Petter Törnberg on the Dynamics of (Mis)Information

330 | Petter Törnberg on the Dynamics of (Mis)Information

A characteristic of complex systems is that individual components combine to exhibit large-scale emergent behavior even when the components were not specifically designed for any particular purpose wi...

29 Syys 20251h 12min

329 | Steven Pinker on Rationality and Common Knowledge

329 | Steven Pinker on Rationality and Common Knowledge

Getting along in society requires that we mostly adhere to certainly shared norms and customs. Often it's not enough that we all know what the rules are, but also that everyone else knows the rules, a...

22 Syys 20251h 16min

328 | Mary Roach on Replacing Parts of Our Bodies

328 | Mary Roach on Replacing Parts of Our Bodies

Like any machine, bodies occasionally break down, and it's natural to go in search of a replacement part. Ancient societies featured simple prosthetics for teeth, noses, and limbs, while modern medici...

15 Syys 20251h 7min

AMA | September 2025

AMA | September 2025

Welcome to the September 2025 Ask Me Anything episode of Mindscape! These monthly excursions are funded by Patreon supporters (who are also the ones asking the questions). We take questions asked by P...

8 Syys 20253h 30min

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