In science fiction films, artificial intelligence and robots are the bogeymen of the future, replacing us and rendering us useless as they impose their mechanical will upon us. Economists, though less apocalyptic, are sounding alarms too. In a study, economist Carl Benedikt Frey and machine learning expert Michael Osborne examine more than 700 occupations in the United States. … [Read more...] about Will Robots Really Harm Employment?
Microeconomics and Competitiveness
If you are reading this blog, you are most likely a person with limited rationality. If you doubt that, ask yourself, if you have ever over-snoozed your morning alarm or eaten beyond your point of hunger? Humans, as it turns out, often fail to act in their best self-interest. We fail to follow through on intended goals and undervalue, or discount, the importance of the future. … [Read more...] about What Behavioral Economics Can Do for the G20
Suppose you are a government facing various social crises. Traditionally, you might send out teams of government researchers, create government-led commissions, and hire consultancies. You might host public hearings. But you wouldn't bring your problems to the internet "crowd." Over the last 10-15 years, however, governments and non-governmental organizations in both the … [Read more...] about How Can Crowdsourcing Help Latin America in the Digital Age?
The IDB invites researchers with a keen intellectual interest in behavioral interventions to apply for visiting positions with its recently established IDB Working Group on Behavioral Economics. As the leading multilateral institution for Latin America and the Caribbean, the IDB is looking to build on its experience helping governments use behavioral economics tools to improve … [Read more...] about New Research Opportunities at the IDB for Behavioral Economists
The year 2017 may be the year behavioral economics found its place in the sun. Fifteen years after behavioral economics pioneer Daniel Kahneman won his Nobel Prize, its principles have been transformed into key policy tools in government, business, and development agencies. The 2017 Nobel Prize to Richard Thaler, one of its principle theoreticians and practitioners, only … [Read more...] about Nudging Latin Americans to Healthier, More Prosperous Lives