Best of #econtwitter - Week of February 16, 2025: paper summaries
Welcome readers old and new to this week’s edition of the Best of Econtwitter newsletter. Please submit suggestions — very much including your own work! — over email or on Twitter @just_economics.
AI papers
^this is their language for complements vs. substitutes. key question!
^ie, the data only includes Claude usage from the claude.ai website, not usage via API (which businesses are going to use)
^this looks like:
the latent social welfare function of the internet ( = the training data) is utilitarian with marginal utility weighting…
…with CRRA utility (constant slope!)… [EDIT: correction, the x-axis is in linear units, this is not right?]
…with a CRRA coefficient of like 0.4, if I eyeballed my math right? (recall log would be 1.0, so 0.4 is sharply diminishing marginal utility!)
Do I have that right? Someone double check me? Hilarious stuff, still cackling
Caveats:
Nostalgebraist (critical) commentary is always worth reading — says sensitive to framing
^speculative…
^🧐
Idiosyncratic favorites
More paper summaries
