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.


Avsnitt(417)

335 | Andrew Jaffe on Models, Probability, and the Universe

335 | Andrew Jaffe on Models, Probability, and the Universe

Science has an incredibly impressive track record of uncovering nonintuitive ideas about the universe that turn out to be surprisingly accurate. It can be tempting to think of scientific discoveries a...

10 Nov 20251h 17min

334 | Daniel Whiteson on the Physics of and by Aliens

334 | Daniel Whiteson on the Physics of and by Aliens

The universe as revealed by physics is objective: it's out there, existing and behaving in ways that are completely independent of human thought. But the process by which we learn about the universe, ...

3 Nov 20251h 14min

333 | Gordon Pennycook on Unthinkingness, Conspiracies, and What to Do About Them

333 | Gordon Pennycook on Unthinkingness, Conspiracies, and What to Do About Them

Why are people wrong all the time, anyway? Is it because we human beings are too good at being irrational, using our biases and motivated reasoning to convince ourselves of something that isn't quite ...

27 Okt 20251h 10min

332 | Dmitri Tymoczko on the Mathematics Behind Music

332 | Dmitri Tymoczko on the Mathematics Behind Music

Music is math that you can dance to. The fact that certain notes sound good when played together, or in succession, is related to the mathematical properties of the frequencies to which they correspon...

20 Okt 20251h 21min

AMA | October 2025

AMA | October 2025

Welcome to the October 2025 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 Pat...

13 Okt 20253h 37min

331 | Solo: Fine-Tuning, God, and the Multiverse

331 | Solo: Fine-Tuning, God, and the Multiverse

Certain features of our universe seem unnatural to us. These include "constants of nature" such as the cosmological constant and the mass of the Higgs boson, as well as features of the initial conditi...

6 Okt 20251h 54min

330 | Petter Törnberg on the Dynamics of (Mis)Information

330 | Petter Törnberg on the Dynamics of (Mis)Information

A characteristic of complex systems is that individual components combine to exhibit large-scale emergent behavior even when the components were not specifically designed for any particular purpose wi...

29 Sep 20251h 12min

329 | Steven Pinker on Rationality and Common Knowledge

329 | Steven Pinker on Rationality and Common Knowledge

Getting along in society requires that we mostly adhere to certainly shared norms and customs. Often it's not enough that we all know what the rules are, but also that everyone else knows the rules, a...

22 Sep 20251h 16min

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