- Abrardi L, Cambini C, Rondi L (2019) The economics of artificial intelligence: A survey. Robert Schuman Centre for Advanced Studies Research Paper No. RSCAS 58.
Paper not yet in RePEc: Add citation now
- Aghion P, Jones BF, Jones CI (2019) 9. Artificial Intelligence and Economic Growth (University of Chicago Press).
Paper not yet in RePEc: Add citation now
- Agrawal A, Gans J, Goldfarb A (2018) Prediction machines: the simple economics of artificial intelligence (Harvard Business Press).
Paper not yet in RePEc: Add citation now
Agrawal A, Gans J, Goldfarb A (2019) Economic policy for artificial intelligence. Innovation Policy and the Economy 19(1):139â159.
Arnold R, Marcus JS, Petropoulos G, Schneider A (2018) Is data the new oil? Diminishing returns to scale (Calgary: International Telecommunications Society (ITS)).
Bajari P, Chernozhukov V, Hortaçsu A, Suzuki J (2018) The impact of big data on firm performance: An empirical investigation. Technical report, National Bureau of Economic Research.
Begenau J, Farboodi M, Veldkamp L (2018) Big data in finance and the growth of large firms. Journal of Monetary Economics 97:71â87.
Bergemann D, Bonatti A, Gan T (2020) The economics of social data (Cowles Foundation discussion paper).
Brynjolfsson E, Mitchell T, Rock D (2018) What can machines learn, and what does it mean for occupations and the economy? AEA Papers and Proceedings, volume 108, 43â47.
Carriere-Swallow MY, Haksar MV (2019) The economics and implications of data: an integrated perspective (International Monetary Fund).
Chiou L, Tucker C (2017) Search engines and data retention: Implications for privacy and antitrust. Technical report, National Bureau of Economic Research.
- Claussen J, Peukert C, Sen A (2021) The editor and the algorithm: Returns to data and externalities in online news. Available at SSRN 3479854 .
Paper not yet in RePEc: Add citation now
- Cockburn IM, Henderson R, Stern S (2019) 4. The Impact of Artificial Intelligence on Innovation: An Exploratory Analysis (University of Chicago Press).
Paper not yet in RePEc: Add citation now
- Cowgill B, Tucker CE (2020) Algorithmic fairness and economics. Columbia Business School Research Paper .
Paper not yet in RePEc: Add citation now
- CreÌmer J, de Montjoye YA, Schweitzer H (2019) Competition policy for the digital era. Report for the European Commission .
Paper not yet in RePEc: Add citation now
De Corniere A, Taylor G (2020) Data and competition: a general framework with applications to mergers, market structure, and privacy policy (CEPR Discussion Paper No. DP14446).
- Fan A, Jernite Y, Perez E, Grangier D, Weston J, Auli M (2019) Eli5: Long form question answering. arXiv preprint arXiv:1907.09190 .
Paper not yet in RePEc: Add citation now
Farboodi M, Mihet R, Philippon T, Veldkamp L (2019) Big data and firm dynamics. AEA papers and proceedings, volume 109, 38â42.
Farboodi M, Veldkamp L (2021) A growth model of the data economy. Technical report, National Bureau of Economic Research.
- Furman J, Coyle D, Fletcher A, McAuley D, Marsden P (2019) Unlocking digital competition: Report of the digital competition expert panel. UK government publication, HM Treasury .
Paper not yet in RePEc: Add citation now
- GPT-2 (2018-2020) Gpt-2 source code: https://github.com/openai/gpt-2. OpenAI.
Paper not yet in RePEc: Add citation now
- Gregory RW, Henfridsson O, Kaganer E, Kyriakou H (2021) Data network effects: Key conditions, shared data, and the data value duality. Academy of Management Review .
Paper not yet in RePEc: Add citation now
- Hestness J, Narang S, Ardalani N, Diamos G, Jun H, Kianinejad H, Patwary M, Ali M, Yang Y, Zhou Y (2017) Deep learning scaling is predictable, empirically. arXiv preprint arXiv:1712.00409 .
Paper not yet in RePEc: Add citation now
- Holtz D, Carterette B, Chandar P, Nazari Z, Cramer H, Aral S (2020) The engagement-diversity connection: Evidence from a field experiment on spotify. Proceedings of the 21st ACM Conference on Economics and Computation, 75â76.
Paper not yet in RePEc: Add citation now
Ichihashi S (2021) The economics of data externalities. Journal of Economic Theory 196:105316.
Jones CI, Tonetti C (2020) Nonrivalry and the economics of data. American Economic Review 110(9):2819â 58.
- Korinek A, Stiglitz JE (2019) 14. Artificial Intelligence and Its Implications for Income Distribution and Unemployment (University of Chicago Press).
Paper not yet in RePEc: Add citation now
- Kullback S, Leibler RA (1951) On information and sufficiency. The annals of mathematical statistics 22(1):79â86.
Paper not yet in RePEc: Add citation now
- Lambrecht A, Tucker CE (2015) Can big data protect a firm from competition? Available at SSRN 2705530 .
Paper not yet in RePEc: Add citation now
- Milgrom PR, Tadelis S (2019) 23. How Artificial Intelligence and Machine Learning Can Impact Market Design (University of Chicago Press).
Paper not yet in RePEc: Add citation now
- N (0,1) Q.E.D. Proof of Proposition 1) From our assumptions in the paper and the asymptotic efficiency of MLE [Casella and Berger (2021)], we know that limnââ m(d,θn) = P(d) where θn = arg maxθ Pn i=1 log (m(di,θ)). Hence, for E|log (m(di,θn))| < â and using the strong law of large number we have lim nââ â n n X i=1 log (m(di,θn)) = H (P) + KL(P||m(d,θâ))= H (P) + KL(P||P) = H(P) Therefore, a model that has been trained on Dâ,0 should reach the loss value H (P0). Assume d(0) â¼ P0 (d) and d(t) â¼ Pt (d). Consider a model that has been trained on a dataset from time t (Dâ,t) and been tested on a dataset from time 0, Dâ,0. In this case, limnââ m d(t) ,θn = Pt (d) where θn,t = arg maxθ Pn i=1 log m d (t) i ,θ The test loss value for this model is lim nââ â n n
Paper not yet in RePEc: Add citation now
- Newman N (2014) Search, antitrust, and the economics of the control of user data. Yale J. on Reg. 31:401.
Paper not yet in RePEc: Add citation now
- nH nH â R t t2 ÏH(t)dt â fnH (t1,t2) > nH nH â R t t2 ÏH(t)dt Valavi et al.: Time and the Value of Data Article submitted to ; manuscript no. (HBS Working Paper 21-016, First Draft: August 2020) 41 meaning that for all t1,t2 > 0 such that offloading is possible for the low flow rate ÏL(t), such offloading is also possible for high flow rate ÏH(t) and hence, the equivalent time for the high flow rate is weakly closer to the prediction time 0 compared to the equivalnet time for low flow rate. And that completes the proof.
Paper not yet in RePEc: Add citation now
- Petit N (2017) Antitrust and Artificial Intelligence: A Research Agenda. Journal of European Competition Law & Practice 8(6):361â362, ISSN 2041-7764, URL http://dx.doi.org/10.1093/jeclap/lpx033.
Paper not yet in RePEc: Add citation now
- Prufer J, Schottmuller C (2017) Competing with big data. TILEC Discussion Paper .
Paper not yet in RePEc: Add citation now
- Q.E.D. Valavi et al.: Time and the Value of Data 42 Article submitted to ; manuscript no. (HBS Working Paper 21-016, First Draft: August 2020)
Paper not yet in RePEc: Add citation now
- Radford A, Wu J, Child R, Luan D, Amodei D, Sutskever I, et al. (2019) Language models are unsupervised multitask learners. OpenAI blog 1(8):9.
Paper not yet in RePEc: Add citation now
Reimers I, Shiller B (2018) Welfare implications of proprietary data collection: an application to telematics in auto insurance. Available at SSRN 3125049 .
- Rubinfeld DL, Gal MS (2017) Access barriers to big data. Ariz. L. Rev. 59:339.
Paper not yet in RePEc: Add citation now
Schaefer M, Sapi G, Lorincz S (2018) The effect of big data on recommendation quality: The example of internet search. DIW Berlin Discussion Paper .
- Shannon CE (1948) A mathematical theory of communication. The Bell system technical journal 27(3):379â 423.
Paper not yet in RePEc: Add citation now
- Tirole J (2020) Competition and the industrial challenge for the digital age. paper for IFS Deaton Review on Inequalities in the Twenty-First Century .
Paper not yet in RePEc: Add citation now
- Valavi et al.: Time and the Value of Data 32 Article submitted to ; manuscript no. (HBS Working Paper 21-016, First Draft: August 2020) Baldwin R (2019) The globotics upheaval: Globalization, robotics, and the future of work (Oxford University Press).
Paper not yet in RePEc: Add citation now
- Valavi et al.: Time and the Value of Data 34 Article submitted to ; manuscript no. (HBS Working Paper 21-016, First Draft: August 2020) Van Til H, Van Gorp N, Price K (2017) Big data and competition. Ecorys Study for the Dutch Ministry of Economic Affairs, Ecorys, Rotterdam. https://www. rijksoverheid. nl/binaries/rijksoverheid/documenten/rapporten/2017/06/13/big-data-and-competition/big-dataandcompetition. pdf .
Paper not yet in RePEc: Add citation now
- Valavi et al.: Time and the Value of Data Article submitted to ; manuscript no. (HBS Working Paper 21-016, First Draft: August 2020) 33 Hagiu A, Wright J (2020) Data-enabled learning, network effects and competitive advantage. working paper .
Paper not yet in RePEc: Add citation now
- Wang A, Singh A, Michael J, Hill F, Levy O, Bowman SR (2018) Glue: A multi-task benchmark and analysis platform for natural language understanding. arXiv preprint arXiv:1804.07461 .
Paper not yet in RePEc: Add citation now
- X i=1 log m d (0) i ,θâ,t = H (P (d)) + KL(P(d)|| m(d,θâ,t)) = H (P0) + KL(P0||Pt) Since both H (P0) and KL(P0||Pt) are non-negative functions of distributions [Kullback and Leibler (1951),Shannon (1948)], we conclude that the loss value is higher than H (P0). Therefore, a bounded size dataset should reach the loss value H (P0) + KL(P0||Pt). Formalizing this argument, we define a neighborhood around H(P0) with the size δ > 0 and prove that with probability (1 â ), any dataset of bounded size reaches a value in the neighborhood.
Paper not yet in RePEc: Add citation now