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.


Episoder(424)

30 | Derek Leben on Ethics for Robots and Artificial Intelligences

30 | Derek Leben on Ethics for Robots and Artificial Intelligences

It's hardly news that computers are exerting ever more influence over our lives. And we're beginning to see the first glimmers of some kind of artificial intelligence: computer programs have become mu...

21 Jan 20191h 28min

29 | Raychelle Burks on the Chemistry of Murder

29 | Raychelle Burks on the Chemistry of Murder

Sometimes science is asking esoteric questions about the fundamental nature of reality. Other times, it just wants to solve a murder. Today's guest, Raychelle Burks, is an analytical chemist at St. Ed...

14 Jan 20191h 15min

28 | Roger Penrose on Spacetime, Consciousness, and the Universe

28 | Roger Penrose on Spacetime, Consciousness, and the Universe

Sir Roger Penrose has had a remarkable life. He has contributed an enormous amount to our understanding of general relativity, perhaps more than anyone since Einstein himself -- Penrose diagrams, sing...

7 Jan 20191h 35min

Holiday Message 2018

Holiday Message 2018

There won't be any regular episodes of Mindscape this week or next, as we take a holiday break. Regular service will resume on Monday January 7, 2019. In the meantime, here is a special Holiday Messag...

24 Des 201844min

27 | Janna Levin on Black Holes, Chaos, and the Narrative of Science

27 | Janna Levin on Black Holes, Chaos, and the Narrative of Science

It's a big universe out there, full of an astonishing variety of questions and puzzles. Today's guest, Janna Levin, is a physicist who has delved into some of the trippiest aspects of cosmology and gr...

17 Des 20181h 8min

26 | Ge Wang on Artful Design, Computers, and Music

26 | Ge Wang on Artful Design, Computers, and Music

Everywhere around us are things that serve functions. We live in houses, sit on chairs, drive in cars. But these things don't only serve functions, they also come in particular forms, which may be emo...

10 Des 20181h 10min

25 | David Chalmers on Consciousness, the Hard Problem, and Living in a Simulation

25 | David Chalmers on Consciousness, the Hard Problem, and Living in a Simulation

The "Easy Problems" of consciousness have to do with how the brain takes in information, thinks about it, and turns it into action. The "Hard Problem," on the other hand, is the task of explaining our...

3 Des 20181h 22min

24 | Kip Thorne on Gravitational Waves, Time Travel, and Interstellar

24 | Kip Thorne on Gravitational Waves, Time Travel, and Interstellar

I remember vividly hosting a colloquium speaker, about fifteen years ago, who talked about the LIGO gravitational-wave observatory, which had just started taking data. Comparing where they were to whe...

26 Nov 20181h 19min

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