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)

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15 | David Poeppel on Thought, Language, and How to Understand the Brain

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8 Sep 20181h 24min

14 | Alta Charo on Bioethics and the Law

14 | Alta Charo on Bioethics and the Law

To paraphrase Ian Malcolm in Jurassic Park, scientists tend to focus on whether they can do something, not whether they should. Questions of what we should do tend to wander away from the pristine bea...

8 Sep 20181h 8min

13 | Neha Narula on Blockchain, Cryptocurrency, and the Future of the Internet

13 | Neha Narula on Blockchain, Cryptocurrency, and the Future of the Internet

For something of such obvious importance, money is kind of mysterious. It can, as Homer Simpson once memorably noted, be exchanged for goods and services. But who decides exactly how many goods/servic...

8 Sep 20181h 6min

12 | Wynton Marsalis on Jazz, Time, and America

12 | Wynton Marsalis on Jazz, Time, and America

Jazz occupies a special place in the American cultural landscape. It's played in elegant concert halls and run-down bars, and can feature esoteric harmonic experimentation or good old-fashioned foot-s...

4 Sep 20181h 1min

11 | Mike Brown on Killing Pluto and Replacing It with Planet 9

11 | Mike Brown on Killing Pluto and Replacing It with Planet 9

Few events in recent astronomical history have had the worldwide emotional resonance as the 2006 announcement that Pluto was no longer considered a planet, at least as far as the International Astrono...

27 Aug 20181h 17min

10 | Megan Rosenbloom on the Death Positive Movement

10 | Megan Rosenbloom on the Death Positive Movement

We're all going to die. But while we are alive, it's up to us how we understand and deal with that fact. In the United States especially, there is a tendency to not face up to the reality of death, an...

20 Aug 20181h 9min

9 | Solo -- Why Is There Something Rather than Nothing?

9 | Solo -- Why Is There Something Rather than Nothing?

It's fun to be in the exciting, chaotic, youthful days of the podcast, when anything goes and experimentation is the order of the day. So today's show is something different: a solo effort, featuring ...

13 Aug 20181h 21min

8 | Carl Zimmer on Heredity, DNA, and Editing Genes

8 | Carl Zimmer on Heredity, DNA, and Editing Genes

Our understanding of heredity and genetics is improving at blinding speed. It was only in the year 2000 that scientists obtained the first rough map of the human genome: 3 billion base pairs of DNA wi...

6 Aug 20181h 31min

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