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(419)

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

7 | Yascha Mounk on Threats to Liberal Democracy

7 | Yascha Mounk on Threats to Liberal Democracy

Both words in the phrase "liberal democracy" carry meaning, and both concepts are under attack around the world. "Democracy" means that they people rule, while "liberal" (in this sense) means that the...

30 Jul 20181h 5min

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 Jul 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 Jul 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 Jul 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 Jul 20181h 20min

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