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.


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Avsnitt(443)

367 | Jared Diamond on the Course of History and the Role of leaders

367 | Jared Diamond on the Course of History and the Role of leaders

The course of history is affected by many things, including the political and social situations of large groups of people, their biological and physical abilities, and their geographical and environme...

7 Sep 1h 17min

366 | Jim Al-Khalili on Time, Quantum, Biology, and Cosmology

366 | Jim Al-Khalili on Time, Quantum, Biology, and Cosmology

Everyone lives through time, but we continue to struggle to fully understand it. We remain unsure whether time is fundamental or emergent, why it has an arrow pointing from past to future, and how tha...

31 Aug 1h 15min

365 | Vitor Cardoso on Why Black Holes Are Special

365 | Vitor Cardoso on Why Black Holes Are Special

Black holes, as Stephen Hawking discovered, do grow old: they emit radiation, lose mass, and eventually evaporate away. But our fascination with black holes never grows old. This is especially true to...

24 Aug 1h 5min

364 | Stuart Firestein on How Science Relies on Ignorance and Failure

364 | Stuart Firestein on How Science Relies on Ignorance and Failure

One of the paradoxes of science is that it seeks objectively true understanding of the world, but its methodology is driven by ignorance, failure, and uncertainty. Some phenomena we understand pretty ...

17 Aug 1h 16min

363 | Chandra Sripada on How LLMs and Humans are Cognitive Cousins

363 | Chandra Sripada on How LLMs and Humans are Cognitive Cousins

Large Language Models display an uncanny ability to construct human-sounding speech, and can synthesize concepts in novel ways. Is this because they are truly thinking like human beings in some way, o...

10 Aug 1h 51min

Mindscape Ask Me Anything, Sean Carroll | August 2026

Mindscape Ask Me Anything, Sean Carroll | August 2026

Welcome to the August 2026 Ask Me Anything episode of Mindscape! These monthly excursions are funded by Patreon supporters (who are also the ones asking the questions). We take questions asked by Patr...

3 Aug 3h 57min

362 | Luis Bettencourt on the Universal Properties of Self-Organizing Cities

362 | Luis Bettencourt on the Universal Properties of Self-Organizing Cities

People who live in large cities produce more patents per person than those who live in small towns. They also walk faster down the street, and use less infrastructure per person. Indeed, the relations...

27 Juli 1h 20min

361 | Bonnie Bassler on How Bacteria Talk and Work Together

361 | Bonnie Bassler on How Bacteria Talk and Work Together

One of the characteristics of life is that living organisms gather information and put it to use. Even one of the simplest lifeforms, bacteria, are able to sense features of their surroundings and alt...

20 Juli 1h 15min

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