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(417)

39 | Malcolm MacIver on Sensing, Consciousness, and Imagination

39 | Malcolm MacIver on Sensing, Consciousness, and Imagination

Consciousness has many aspects, from experience to wakefulness to self-awareness. One aspect is imagination: our minds can conjure up multiple hypothetical futures to help us decide which choices we s...

25 Maalis 20191h 19min

38 | Alan Lightman on Transcendence, Science, and a Naturalist's Sense of Meaning

38 | Alan Lightman on Transcendence, Science, and a Naturalist's Sense of Meaning

Let's say, for sake of argument, that you don't believe in God or the supernatural. Is there still a place for talking about transcendence, the sacred, and meaning in life? Some of the above, but not ...

18 Maalis 20191h 16min

37 | Edward Watts on the End of the Roman Republic and Lessons for Democracy

37 | Edward Watts on the End of the Roman Republic and Lessons for Democracy

When many of us think "Ancient Rome," we think of the Empire and the Caesars. But the Empire was preceded by the Roman Republic, which flourished for a full five centuries. Why, after such a long and ...

11 Maalis 20191h 31min

36 | David Albert on Quantum Measurement and the Problems with Many-Worlds

36 | David Albert on Quantum Measurement and the Problems with Many-Worlds

Quantum mechanics is our best theory of how reality works at a fundamental level, yet physicists still can't agree on what the theory actually says. At the heart of the puzzle is the "measurement prob...

4 Maalis 20191h 42min

35 | Jessica Yellin on The Changing Ways We Get Our News

35 | Jessica Yellin on The Changing Ways We Get Our News

Everything we think about the world outside our immediate senses is shaped by information brought to us by other sources. In the case of what's currently happening to the human race, we call that info...

25 Helmi 20191h 8min

34 | Paul Bloom on Empathy, Rationality, Morality, and Cruelty

34 | Paul Bloom on Empathy, Rationality, Morality, and Cruelty

Within every person's mind there is on ongoing battle between reason and emotion. It's not always a battle, of course; very often the two can work together. But at other times, our emotions push us to...

18 Helmi 20191h 10min

33 | James Ladyman on Reality, Metaphysics, and Complexity

33 | James Ladyman on Reality, Metaphysics, and Complexity

Reality is a tricky thing. Is love real? What about the number 5? This is clearly a job for a philosopher, and James Ladyman is one of the world's acknowledged experts. He and his collaborators have b...

11 Helmi 20191h 7min

32 | Naomi Oreskes on Climate Change and the Distortion of Scientific Facts

32 | Naomi Oreskes on Climate Change and the Distortion of Scientific Facts

Our climate is in the midst of dramatic changes, driven largely by human activity, with potentially enormous consequences for humanity and other species. That's why science tells us, anyway. But there...

4 Helmi 20191h 10min

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