Government Funding for R&D and Productivity Growth
What’s the return on government funding for research? There are a few places in the academic literature you can look to for insight. Jones and Summers (2021) uses a hypothetical thought experiment to make the case that, on average, every dollar of R&D spent probably generates several dollars in benefits via its long-run impact on economic growth (see What are the returns to R&D? for more discussion). But that result applies only to R&D in general, government and non-government, bu...
27 Jan 2025
Do prediction technologies help novices or experts more?
Which kind of inventor (or scientist) is going to benefit more from artificial intelligence: novices or experts? In theory, it can go either way.This podcast is an audio read through of the (initial version of the) article Do prediction technologies help novices or experts more?, originally published on New Things Under the Sun.Articles CitedNagaraj, Abhishek. 2021. The private impact of public data: Landsat satellite maps increased gold discoveries and encouraged entry. Management Science 68...
8 Jan 2025
Prediction Technologies and Innovation
Some inventions and discoveries make the inventive process itself more efficient. One such class of invention is the prediction technology. These can take a lot of forms. AI is one example of a technology that can help scientists and inventors make better predictions about what is worth trying as a candidate solution to a problem, but as we’ll see, there are many other kinds of prediction technology as well.This podcast is an audio read through of the (initial version of the) article Predicti...
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