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)

6 | Liv Boeree on Poker, Aliens, and Thinking in Probabilities

6 | Liv Boeree on Poker, Aliens, and Thinking in Probabilities

Poker, like life, is a game of incomplete information. To do well in such a game, we have to think in terms of probabilities, unpredictable strategies, and Bayesian inference. These are ideas that pla...

23 Heinä 20181h 10min

5 | Geoffrey West on Networks, Scaling, and the Pace of Life

5 | Geoffrey West on Networks, Scaling, and the Pace of Life

If you scale up an animal to twice its height, keeping everything else proportionate, its volume and weight become eight times as much. Such a scaling relation was used by J.B.S. Haldane in his famous...

16 Heinä 20181h 23min

4 |  Anthony Pinn on Humanism, Theology, and the Black Community

4 | Anthony Pinn on Humanism, Theology, and the Black Community

According to atheism, God does not exist. But religions have traditionally done much more than simply proclaim God's existence: they have provided communities, promoted the arts, handed down moral gui...

12 Heinä 20181h

3 | Alice Dreger on Sexuality, Truth, and Justice

3 | Alice Dreger on Sexuality, Truth, and Justice

The human mind loves nothing more than to build mental boxes -- categories -- and put things into them, then refuse to accept it when something doesn't fit. Nowhere is this more clear than in the idea...

11 Heinä 20181h 20min

2 | Carlo Rovelli on Quantum Mechanics, Spacetime, and Reality

2 | Carlo Rovelli on Quantum Mechanics, Spacetime, and Reality

Quantum mechanics and general relativity are the two great triumphs of twentieth-century theoretical physics. Unfortunately, they don't play well together -- despite years of effort, we currently lack...

10 Heinä 20181h 12min

1 | Carol Tavris on Mistakes, Justification, and Cognitive Dissonance

1 | Carol Tavris on Mistakes, Justification, and Cognitive Dissonance

For the first full episode of Mindscape, it's an honor to welcome social psychologist Carol Tavris. Her book with co-author Eliot Aronson, Mistakes Were Made (But Not By Me), explores the effect that ...

4 Heinä 20181h 11min

Welcome to the Mindscape Podcast!

Welcome to the Mindscape Podcast!

I've decided to officially take the plunge into the world of podcasting. The new show will be called Mindscape, and will mostly consist of me talking to smart people about interesting ideas. (Occasion...

1 Heinä 201816min

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