“Is it transformative? Maybe not,” said Eric Verhoogen, a professor of economics at Columbia University who focuses on industrial development.. “But this sort of model can be quite beneficial for the community in which production is happening, in part because many times people in the community don’t really know what the end consumer in the U.S. or another rich country wants. The advantage that companies like this one bring is they know the consumer.”
Behavioral economists speak of “loss aversion.” “If I give you $10 and take it away from you, that feels a lot worse than me not giving it to you in the first place,” said Mark Dean, an economics professor at Columbia University.
Transparency and Deliberation Within the FOMC: A Computational Linguistics Approach
Stephen Hansen, Michael McMahon, Andrea Prat
The Quarterly Journal of Economics, May 2018
Recommender Systems as Mechanisms for Social Learning
Yeon-Koo Che, Johannes Hörner
The Quarterly Journal of Economics, May 2018
Columbia University Professor Jeffrey Sachs said the world’s ways of producing and using energy need to change “much faster, much more dramatically” than political leaders looking to tap hydrocarbon reserves understand. “So, if we want to move to zero emissions we better get the idea to move away from fossil fuels faster than Shell oil company thinks we can,” Sachs told a conference in the Cypriot capital on the climate change challenges faced by Mediterranean countries and the Middle East.
Richard Clarida, the Columbia University economist tapped to serve as the Federal Reserve’s No. 2 official by President Donald Trump, said he would “fully support” the central bank’s mission and promote accountability that preserves its independent status. In prepared testimony released Monday by the Senate Banking Committee ahead of a hearing on his nomination Tuesday, Mr. Clarida said he would support interest-rate policy that takes a “balanced approach” to achieving the central bank’s goals of stabilizing prices and maximizing sustainable employment.
