--- _id: '50719' abstract: - lang: eng text: We propose an indicator for detecting anomalous stock market valuation in real time such that market participants receive timely signals so as to be able to take stabilizing action. Unlike existing approaches, our anomaly indicator introduces three methodological novelties. First, we use an endogenous, purely data-driven, nonparametric trend identification method to separate long-term market movements from more short-term ones. Second, we apply SETAR models that allow for asymmetric expansions and contractions around the long-term trend and find systematic stock price cycles. Third, we implement these findings in our indicator and conduct real-time market forecasts, which have so far been neglected in the literature. Applications of our indicator using monthly S&P 500 stock data from 1970 to the end of 2022 show that short-term anomalous market movements can be identified in real time up to one year ahead. We predict all major anomalies, including the 1987 Bubble and the initial phase of the Financial Crisis that began in 2007. In total, our anomaly indicator identifies more than 80% of all – even minor – anomalous episodes. Thus, smoothing market exaggerations through early signaling seems possible. article_type: original author: - first_name: Marlon full_name: Fritz, Marlon last_name: Fritz - first_name: Thomas full_name: Gries, Thomas id: '186' last_name: Gries - first_name: Lukas full_name: Wiechers, Lukas last_name: Wiechers citation: ama: Fritz M, Gries T, Wiechers L. An early indicator for anomalous stock market performance. Quantitative Finance. Published online 2024:1-14. doi:10.1080/14697688.2023.2281529 apa: Fritz, M., Gries, T., & Wiechers, L. (2024). An early indicator for anomalous stock market performance. Quantitative Finance, 1–14. https://doi.org/10.1080/14697688.2023.2281529 bibtex: '@article{Fritz_Gries_Wiechers_2024, title={An early indicator for anomalous stock market performance}, DOI={10.1080/14697688.2023.2281529}, journal={Quantitative Finance}, publisher={Informa UK Limited}, author={Fritz, Marlon and Gries, Thomas and Wiechers, Lukas}, year={2024}, pages={1–14} }' chicago: Fritz, Marlon, Thomas Gries, and Lukas Wiechers. “An Early Indicator for Anomalous Stock Market Performance.” Quantitative Finance, 2024, 1–14. https://doi.org/10.1080/14697688.2023.2281529. ieee: 'M. Fritz, T. Gries, and L. Wiechers, “An early indicator for anomalous stock market performance,” Quantitative Finance, pp. 1–14, 2024, doi: 10.1080/14697688.2023.2281529.' mla: Fritz, Marlon, et al. “An Early Indicator for Anomalous Stock Market Performance.” Quantitative Finance, Informa UK Limited, 2024, pp. 1–14, doi:10.1080/14697688.2023.2281529. short: M. Fritz, T. Gries, L. Wiechers, Quantitative Finance (2024) 1–14. date_created: 2024-01-22T08:49:02Z date_updated: 2024-01-22T08:54:05Z department: - _id: '19' - _id: '200' - _id: '202' - _id: '475' doi: 10.1080/14697688.2023.2281529 keyword: - General Economics - Econometrics and Finance - Finance language: - iso: eng page: 1-14 publication: Quantitative Finance publication_identifier: issn: - 1469-7688 - 1469-7696 publication_status: published publisher: Informa UK Limited status: public title: An early indicator for anomalous stock market performance type: journal_article user_id: '186' year: '2024' ... --- _id: '35637' abstract: - lang: eng text: Individual cognitive functioning declines over time. We seek to understand how adverse physical health shocks in older ages contribute to this development. By use of event-study methods and data from the USA, England, and several countries in Continental Europe, we find evidence that health shocks lead to an immediate and persistent decline in cognitive functioning. This robust finding holds in all regions representing different health insurance systems and seems to be independent of underlying individual demographic characteristics such as sex and age. We also ask whether variables that are susceptible to policy action can reduce the negative consequences of a health shock. Our results suggest that neither compulsory education nor retirement regulations moderate the effects, thus emphasizing the importance for cognitive functioning of maintaining good physical health in old age. article_type: original author: - first_name: Valentin full_name: Schiele, Valentin id: '53779' last_name: Schiele - first_name: Hendrik full_name: Schmitz, Hendrik id: '48879' last_name: Schmitz citation: ama: 'Schiele V, Schmitz H. Understanding cognitive decline in older ages: The role of health shocks. European Economic Review. 2023;151. doi:10.1016/j.euroecorev.2022.104320' apa: 'Schiele, V., & Schmitz, H. (2023). Understanding cognitive decline in older ages: The role of health shocks. European Economic Review, 151. https://doi.org/10.1016/j.euroecorev.2022.104320' bibtex: '@article{Schiele_Schmitz_2023, title={Understanding cognitive decline in older ages: The role of health shocks}, volume={151}, DOI={10.1016/j.euroecorev.2022.104320}, journal={European Economic Review}, author={Schiele, Valentin and Schmitz, Hendrik}, year={2023} }' chicago: 'Schiele, Valentin, and Hendrik Schmitz. “Understanding Cognitive Decline in Older Ages: The Role of Health Shocks.” European Economic Review 151 (2023). https://doi.org/10.1016/j.euroecorev.2022.104320.' ieee: 'V. Schiele and H. Schmitz, “Understanding cognitive decline in older ages: The role of health shocks,” European Economic Review, vol. 151, 2023, doi: 10.1016/j.euroecorev.2022.104320.' mla: 'Schiele, Valentin, and Hendrik Schmitz. “Understanding Cognitive Decline in Older Ages: The Role of Health Shocks.” European Economic Review, vol. 151, 2023, doi:10.1016/j.euroecorev.2022.104320.' short: V. Schiele, H. Schmitz, European Economic Review 151 (2023). date_created: 2023-01-10T07:52:03Z date_updated: 2023-01-10T08:04:10Z department: - _id: '281' - _id: '475' doi: 10.1016/j.euroecorev.2022.104320 intvolume: ' 151' language: - iso: eng main_file_link: - url: https://www.sciencedirect.com/science/article/abs/pii/S0014292122002008 publication: European Economic Review publication_status: published quality_controlled: '1' status: public title: 'Understanding cognitive decline in older ages: The role of health shocks' type: journal_article user_id: '53779' volume: 151 year: '2023' ... --- _id: '42638' abstract: - lang: eng text: We propose a new method to estimate and isolate the localization of knowledge spillovers due to the physical presence of a person, using after-application but pre-grant deaths of differently located coinventors of the same patent. The approach estimates the differences in local citations between the deceased and still-living inventors at increasingly distant radii. Patents receive 26 percent fewer citations from within a radius of 20 miles around the deceased, relative to still-living coinventors. Differences attenuate with time and distance, are stronger when still-living coinventors live farther from the deceased, and hold for a subsample of possibly premature deaths. (JEL O31, O33, O34, R32) author: - first_name: Benjamin full_name: Balsmeier, Benjamin last_name: Balsmeier - first_name: Lee full_name: Fleming, Lee last_name: Fleming - first_name: Sonja full_name: Lück, Sonja id: '950' last_name: Lück orcid: 0000-0003-0380-1965 citation: ama: 'Balsmeier B, Fleming L, Lück S. Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials. American Economic Review: Insights. 2023;5(1):21-33. doi:10.1257/aeri.20210275' apa: 'Balsmeier, B., Fleming, L., & Lück, S. (2023). Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials. American Economic Review: Insights, 5(1), 21–33. https://doi.org/10.1257/aeri.20210275' bibtex: '@article{Balsmeier_Fleming_Lück_2023, title={Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials}, volume={5}, DOI={10.1257/aeri.20210275}, number={1}, journal={American Economic Review: Insights}, publisher={American Economic Association}, author={Balsmeier, Benjamin and Fleming, Lee and Lück, Sonja}, year={2023}, pages={21–33} }' chicago: 'Balsmeier, Benjamin, Lee Fleming, and Sonja Lück. “Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials.” American Economic Review: Insights 5, no. 1 (2023): 21–33. https://doi.org/10.1257/aeri.20210275.' ieee: 'B. Balsmeier, L. Fleming, and S. Lück, “Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials,” American Economic Review: Insights, vol. 5, no. 1, pp. 21–33, 2023, doi: 10.1257/aeri.20210275.' mla: 'Balsmeier, Benjamin, et al. “Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials.” American Economic Review: Insights, vol. 5, no. 1, American Economic Association, 2023, pp. 21–33, doi:10.1257/aeri.20210275.' short: 'B. Balsmeier, L. Fleming, S. Lück, American Economic Review: Insights 5 (2023) 21–33.' date_created: 2023-02-28T20:28:16Z date_updated: 2023-02-28T20:35:11Z department: - _id: '200' - _id: '281' - _id: '475' doi: 10.1257/aeri.20210275 intvolume: ' 5' issue: '1' keyword: - Management - Monitoring - Policy and Law - Geography - Planning and Development language: - iso: eng page: 21-33 publication: 'American Economic Review: Insights' publication_identifier: issn: - 2640-205X - 2640-2068 publication_status: published publisher: American Economic Association status: public title: 'Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials' type: journal_article user_id: '950' volume: 5 year: '2023' ... --- _id: '44092' abstract: - lang: eng text: "We study how competition between physicians affects the provision of medical care. In\r\nour theoretical model, physicians are faced with a heterogeneous patient population, in which patients\r\nsystematically vary with regard to both their responsiveness to the provided quality of care and their\r\nstate of health. We test the behavioral predictions derived from this model in a controlled laboratory\r\nexperiment. In line with the model, we observe that competition significantly improves patient benefits\r\nas long as patients are able to respond to the quality provided. For those patients, who are not able\r\nto choose a physician, competition even decreases the patient benefit compared to a situation without\r\ncompetition. This decrease is in contrast to our theoretical prediction implying no change in benefits for\r\npassive patients. Deviations from patient-optimal treatment are highest for passive patients in need of\r\na low quantity of medical services. With repetition, both, the positive effects of competition for active\r\npatients as well as the negative effects of competition for passive patients become more pronounced. Our\r\nresults imply that competition can not only improve but also worsen patient outcome and that patients’\r\nresponsiveness to quality is decisive." article_type: original author: - first_name: Jeannette full_name: Brosig-Koch, Jeannette last_name: Brosig-Koch - first_name: Burkhard full_name: Hehenkamp, Burkhard id: '37339' last_name: Hehenkamp - first_name: Johanna full_name: Kokot, Johanna last_name: Kokot citation: ama: Brosig-Koch J, Hehenkamp B, Kokot J. Who benefits from quality competition in health care? A theory and a laboratory experiment on the relevance of patient characteristics. Health Economics. Published online 2023. doi:10.1002/hec.4689 apa: Brosig-Koch, J., Hehenkamp, B., & Kokot, J. (2023). Who benefits from quality competition in health care? A theory and a laboratory experiment on the relevance of patient characteristics. Health Economics. https://doi.org/10.1002/hec.4689 bibtex: '@article{Brosig-Koch_Hehenkamp_Kokot_2023, title={Who benefits from quality competition in health care? A theory and a laboratory experiment on the relevance of patient characteristics}, DOI={10.1002/hec.4689}, journal={Health Economics}, author={Brosig-Koch, Jeannette and Hehenkamp, Burkhard and Kokot, Johanna}, year={2023} }' chicago: Brosig-Koch, Jeannette, Burkhard Hehenkamp, and Johanna Kokot. “Who Benefits from Quality Competition in Health Care? A Theory and a Laboratory Experiment on the Relevance of Patient Characteristics.” Health Economics, 2023. https://doi.org/10.1002/hec.4689. ieee: 'J. Brosig-Koch, B. Hehenkamp, and J. Kokot, “Who benefits from quality competition in health care? A theory and a laboratory experiment on the relevance of patient characteristics,” Health Economics, 2023, doi: 10.1002/hec.4689.' mla: Brosig-Koch, Jeannette, et al. “Who Benefits from Quality Competition in Health Care? A Theory and a Laboratory Experiment on the Relevance of Patient Characteristics.” Health Economics, 2023, doi:10.1002/hec.4689. short: J. Brosig-Koch, B. Hehenkamp, J. Kokot, Health Economics (2023). date_created: 2023-04-20T17:02:41Z date_updated: 2023-04-20T17:16:14Z department: - _id: '280' - _id: '475' doi: 10.1002/hec.4689 jel: - I11 - D43 - C91 keyword: - physician competition - patient characteristics - heterogeneity in quality responses - fee-for-service - laboratory experiment language: - iso: eng project: - _id: '1' name: 'SFB 901: SFB 901' - _id: '2' name: 'SFB 901 - A: SFB 901 - Project Area A' - _id: '7' name: 'SFB 901 - A3: SFB 901 - Subproject A3' publication: Health Economics quality_controlled: '1' status: public title: Who benefits from quality competition in health care? A theory and a laboratory experiment on the relevance of patient characteristics type: journal_article user_id: '37339' year: '2023' ... --- _id: '34114' abstract: - lang: eng text: "Qualitative comparative analysis (QCA) enables researchers in international management to better understand how the impact of a single explanatory factor depends on the context of other factors. But the analytical toolbox of QCA does not include a parameter for the explanatory power of a single explanatory factor or “condition”. In this paper, we therefore reinterpret the Banzhaf power index, originally developed in cooperative game theory, to establish a goodness-of-fit parameter in QCA. The relative Banzhaf index we suggest measures the explanatory power of one condition averaged across all sufficient combinations of conditions. The paper argues that the index is especially informative in three situations that are all salient in international management and call for a context-sensitive analysis of single conditions, namely substantial limited diversity in the data, the emergence of strong INUS conditions in the analysis, and theorizing with contingency factors. The paper derives the properties of the relative Banzhaf index in QCA, demonstrates how the index can be computed easily from a rudimentary truth table, and explores its insights by revisiting selected papers in international management that apply fuzzy-set QCA. It finally suggests a three-step procedure for utilizing the relative Banzhaf index when the causal structure involves both contingency effects and configurational causation.\r\n" article_type: original author: - first_name: Claus-Jochen full_name: Haake, Claus-Jochen id: '20801' last_name: Haake - first_name: Martin full_name: Schneider, Martin id: '471' last_name: Schneider orcid: https://orcid.org/0000-0002-6961-3716 citation: ama: 'Haake C-J, Schneider M. Playing games with QCA: Measuring the explanatory power of single conditions with the Banzhaf index. Journal of International Management.' apa: 'Haake, C.-J., & Schneider, M. (n.d.). Playing games with QCA: Measuring the explanatory power of single conditions with the Banzhaf index. Journal of International Management.' bibtex: '@article{Haake_Schneider, title={Playing games with QCA: Measuring the explanatory power of single conditions with the Banzhaf index}, journal={Journal of International Management}, publisher={Elsevier}, author={Haake, Claus-Jochen and Schneider, Martin} }' chicago: 'Haake, Claus-Jochen, and Martin Schneider. “Playing Games with QCA: Measuring the Explanatory Power of Single Conditions with the Banzhaf Index.” Journal of International Management, n.d.' ieee: 'C.-J. Haake and M. Schneider, “Playing games with QCA: Measuring the explanatory power of single conditions with the Banzhaf index,” Journal of International Management.' mla: 'Haake, Claus-Jochen, and Martin Schneider. “Playing Games with QCA: Measuring the Explanatory Power of Single Conditions with the Banzhaf Index.” Journal of International Management, Elsevier.' short: C.-J. Haake, M. Schneider, Journal of International Management (n.d.). date_created: 2022-11-19T15:33:27Z date_updated: 2023-08-29T16:17:48Z department: - _id: '205' - _id: '475' - _id: '178' - _id: '185' keyword: - Qualitative comparative analysis - Banzhaf power index - causality - explanatory power language: - iso: eng project: - _id: '1' grant_number: '160364472' name: 'SFB 901: SFB 901' - _id: '2' name: 'SFB 901 - A: SFB 901 - Project Area A' - _id: '7' grant_number: '160364472' name: 'SFB 901 - A3: SFB 901 - Subproject A3' publication: Journal of International Management publication_status: accepted publisher: Elsevier status: public title: 'Playing games with QCA: Measuring the explanatory power of single conditions with the Banzhaf index' type: journal_article user_id: '20801' year: '2023' ... --- _id: '30341' author: - first_name: Britta full_name: Hoyer, Britta id: '42447' last_name: Hoyer - first_name: Dirk full_name: van Straaten, Dirk id: '10311' last_name: van Straaten citation: ama: Hoyer B, van Straaten D. Anonymity and Self-Expression in Online Rating Systems - An Experimental Analysis. Journal of Behavioral and Experimental Economics. 2022;98:101869. doi:10.1016/j.socec.2022.101869 apa: Hoyer, B., & van Straaten, D. (2022). Anonymity and Self-Expression in Online Rating Systems - An Experimental Analysis. Journal of Behavioral and Experimental Economics, 98, 101869. https://doi.org/10.1016/j.socec.2022.101869 bibtex: '@article{Hoyer_van Straaten_2022, title={Anonymity and Self-Expression in Online Rating Systems - An Experimental Analysis}, volume={98}, DOI={10.1016/j.socec.2022.101869}, journal={Journal of Behavioral and Experimental Economics}, publisher={Elsevier BV}, author={Hoyer, Britta and van Straaten, Dirk}, year={2022}, pages={101869} }' chicago: 'Hoyer, Britta, and Dirk van Straaten. “Anonymity and Self-Expression in Online Rating Systems - An Experimental Analysis.” Journal of Behavioral and Experimental Economics 98 (2022): 101869. https://doi.org/10.1016/j.socec.2022.101869.' ieee: 'B. Hoyer and D. van Straaten, “Anonymity and Self-Expression in Online Rating Systems - An Experimental Analysis,” Journal of Behavioral and Experimental Economics, vol. 98, p. 101869, 2022, doi: 10.1016/j.socec.2022.101869.' mla: Hoyer, Britta, and Dirk van Straaten. “Anonymity and Self-Expression in Online Rating Systems - An Experimental Analysis.” Journal of Behavioral and Experimental Economics, vol. 98, Elsevier BV, 2022, p. 101869, doi:10.1016/j.socec.2022.101869. short: B. Hoyer, D. van Straaten, Journal of Behavioral and Experimental Economics 98 (2022) 101869. date_created: 2022-03-16T06:24:37Z date_updated: 2022-03-21T06:07:39Z department: - _id: '280' - _id: '475' - _id: '179' doi: 10.1016/j.socec.2022.101869 intvolume: ' 98' keyword: - General Social Sciences - Economics and Econometrics - Applied Psychology language: - iso: eng main_file_link: - url: https://www.sciencedirect.com/science/article/abs/pii/S2214804322000441 page: '101869' project: - _id: '1' name: 'SFB 901: SFB 901' - _id: '2' name: 'SFB 901 - A: SFB 901 - Project Area A' - _id: '7' name: 'SFB 901 - A3: SFB 901 - Subproject A3' - _id: '8' name: 'SFB 901 - A4: SFB 901 - Subproject A4' publication: Journal of Behavioral and Experimental Economics publication_identifier: issn: - 2214-8043 publication_status: published publisher: Elsevier BV status: public title: Anonymity and Self-Expression in Online Rating Systems - An Experimental Analysis type: journal_article user_id: '42447' volume: 98 year: '2022' ... --- _id: '31881' author: - first_name: Britta full_name: Hoyer, Britta id: '42447' last_name: Hoyer - first_name: Kris full_name: De Jaegher, Kris last_name: De Jaegher citation: ama: Hoyer B, De Jaegher K. Network Disruption and the Common-Enemy Effect. International Journal of Game Theory. Published online 2022. doi:10.1007/s00182-022-00812-5 apa: Hoyer, B., & De Jaegher, K. (2022). Network Disruption and the Common-Enemy Effect. International Journal of Game Theory. https://doi.org/10.1007/s00182-022-00812-5 bibtex: '@article{Hoyer_De Jaegher_2022, title={Network Disruption and the Common-Enemy Effect}, DOI={10.1007/s00182-022-00812-5}, journal={International Journal of Game Theory}, publisher={Springer}, author={Hoyer, Britta and De Jaegher, Kris}, year={2022} }' chicago: Hoyer, Britta, and Kris De Jaegher. “Network Disruption and the Common-Enemy Effect.” International Journal of Game Theory, 2022. https://doi.org/10.1007/s00182-022-00812-5. ieee: 'B. Hoyer and K. De Jaegher, “Network Disruption and the Common-Enemy Effect,” International Journal of Game Theory, 2022, doi: 10.1007/s00182-022-00812-5.' mla: Hoyer, Britta, and Kris De Jaegher. “Network Disruption and the Common-Enemy Effect.” International Journal of Game Theory, Springer, 2022, doi:10.1007/s00182-022-00812-5. short: B. Hoyer, K. De Jaegher, International Journal of Game Theory (2022). date_created: 2022-06-14T15:33:35Z date_updated: 2022-12-04T14:40:38Z department: - _id: '280' - _id: '475' doi: 10.1007/s00182-022-00812-5 extern: '1' language: - iso: eng project: - _id: '1' name: 'SFB 901: SFB 901' - _id: '2' name: 'SFB 901 - A: SFB 901 - Project Area A' - _id: '7' name: 'SFB 901 - A3: SFB 901 - Subproject A3' publication: International Journal of Game Theory publication_status: epub_ahead publisher: Springer status: public title: Network Disruption and the Common-Enemy Effect type: journal_article user_id: '42447' year: '2022' ... --- _id: '33221' abstract: - lang: eng text: AbstractNon-pharmaceutical interventions are an effective strategy to prevent and control COVID-19 transmission in the community. However, the timing and stringency to which these measures have been implemented varied between countries and regions. The differences in stringency can only to a limited extent be explained by the number of infections and the prevailing vaccination strategies. Our study aims to shed more light on the lockdown strategies and to identify the determinants underlying the differences between countries on regional, economic, institutional, and political level. Based on daily panel data for 173 countries and the period from January 2020 to October 2021 we find significant regional differences in lockdown strategies. Further, more prosperous countries implemented milder restrictions but responded more quickly, while poorer countries introduced more stringent measures but had a longer response time. Finally, democratic regimes and stronger manifested institutions alleviated and slowed down the introduction of lockdown measures. author: - first_name: Margarete full_name: Redlin, Margarete id: '135' last_name: Redlin citation: ama: Redlin M. Differences in NPI strategies against COVID-19. Journal of Regulatory Economics. Published online 2022. doi:10.1007/s11149-022-09452-9 apa: Redlin, M. (2022). Differences in NPI strategies against COVID-19. Journal of Regulatory Economics. https://doi.org/10.1007/s11149-022-09452-9 bibtex: '@article{Redlin_2022, title={Differences in NPI strategies against COVID-19}, DOI={10.1007/s11149-022-09452-9}, journal={Journal of Regulatory Economics}, publisher={Springer Science and Business Media LLC}, author={Redlin, Margarete}, year={2022} }' chicago: Redlin, Margarete. “Differences in NPI Strategies against COVID-19.” Journal of Regulatory Economics, 2022. https://doi.org/10.1007/s11149-022-09452-9. ieee: 'M. Redlin, “Differences in NPI strategies against COVID-19,” Journal of Regulatory Economics, 2022, doi: 10.1007/s11149-022-09452-9.' mla: Redlin, Margarete. “Differences in NPI Strategies against COVID-19.” Journal of Regulatory Economics, Springer Science and Business Media LLC, 2022, doi:10.1007/s11149-022-09452-9. short: M. Redlin, Journal of Regulatory Economics (2022). date_created: 2022-08-29T06:49:33Z date_updated: 2022-08-29T08:38:12Z department: - _id: '475' - _id: '200' - _id: '202' doi: 10.1007/s11149-022-09452-9 keyword: - Economics and Econometrics language: - iso: eng publication: Journal of Regulatory Economics publication_identifier: issn: - 0922-680X - 1573-0468 publication_status: published publisher: Springer Science and Business Media LLC status: public title: Differences in NPI strategies against COVID-19 type: journal_article user_id: '14931' year: '2022' ... --- _id: '33220' abstract: - lang: eng text: AbstractWe provide a partial equilibrium model wherein AI provides abilities combined with human skills to provide an aggregate intermediate service good. We use the model to find that the extent of automation through AI will be greater if (a) the economy is relatively abundant in sophisticated programs and machine abilities compared to human skills; (b) the economy hosts a relatively large number of AI-providing firms and experts; and (c) the task-specific productivity of AI services is relatively high compared to the task-specific productivity of general labor and labor skills. We also illustrate that the contribution of AI to aggregate productive labor service depends not only on the amount of AI services available but on the endogenous number of automated tasks, the relative productivity of standard and IT-related labor, and the substitutability of tasks. These determinants also affect the income distribution between the two kinds of labor. We derive several empirical implications and identify possible future extensions. article_number: '12' author: - first_name: Thomas full_name: Gries, Thomas id: '186' last_name: Gries - first_name: Wim full_name: Naudé, Wim last_name: Naudé citation: ama: Gries T, Naudé W. Modelling artificial intelligence in economics. Journal for Labour Market Research. 2022;56(1). doi:10.1186/s12651-022-00319-2 apa: Gries, T., & Naudé, W. (2022). Modelling artificial intelligence in economics. Journal for Labour Market Research, 56(1), Article 12. https://doi.org/10.1186/s12651-022-00319-2 bibtex: '@article{Gries_Naudé_2022, title={Modelling artificial intelligence in economics}, volume={56}, DOI={10.1186/s12651-022-00319-2}, number={112}, journal={Journal for Labour Market Research}, publisher={Springer Science and Business Media LLC}, author={Gries, Thomas and Naudé, Wim}, year={2022} }' chicago: Gries, Thomas, and Wim Naudé. “Modelling Artificial Intelligence in Economics.” Journal for Labour Market Research 56, no. 1 (2022). https://doi.org/10.1186/s12651-022-00319-2. ieee: 'T. Gries and W. Naudé, “Modelling artificial intelligence in economics,” Journal for Labour Market Research, vol. 56, no. 1, Art. no. 12, 2022, doi: 10.1186/s12651-022-00319-2.' mla: Gries, Thomas, and Wim Naudé. “Modelling Artificial Intelligence in Economics.” Journal for Labour Market Research, vol. 56, no. 1, 12, Springer Science and Business Media LLC, 2022, doi:10.1186/s12651-022-00319-2. short: T. Gries, W. Naudé, Journal for Labour Market Research 56 (2022). date_created: 2022-08-29T06:43:37Z date_updated: 2022-08-30T07:37:57Z department: - _id: '475' - _id: '200' - _id: '202' doi: 10.1186/s12651-022-00319-2 intvolume: ' 56' issue: '1' keyword: - General Medicine language: - iso: eng publication: Journal for Labour Market Research publication_identifier: issn: - 2510-5019 - 2510-5027 publication_status: published publisher: Springer Science and Business Media LLC status: public title: Modelling artificial intelligence in economics type: journal_article user_id: '135' volume: 56 year: '2022' ... --- _id: '33219' author: - first_name: Thomas full_name: Gries, Thomas id: '186' last_name: Gries - first_name: Veronika full_name: Müller, Veronika last_name: Müller - first_name: John T. full_name: Jost, John T. last_name: Jost citation: ama: 'Gries T, Müller V, Jost JT. The Market for Belief Systems: A Formal Model of Ideological Choice. Psychological Inquiry. 2022;33(2):65-83. doi:10.1080/1047840x.2022.2065128' apa: 'Gries, T., Müller, V., & Jost, J. T. (2022). The Market for Belief Systems: A Formal Model of Ideological Choice. Psychological Inquiry, 33(2), 65–83. https://doi.org/10.1080/1047840x.2022.2065128' bibtex: '@article{Gries_Müller_Jost_2022, title={The Market for Belief Systems: A Formal Model of Ideological Choice}, volume={33}, DOI={10.1080/1047840x.2022.2065128}, number={2}, journal={Psychological Inquiry}, publisher={Informa UK Limited}, author={Gries, Thomas and Müller, Veronika and Jost, John T.}, year={2022}, pages={65–83} }' chicago: 'Gries, Thomas, Veronika Müller, and John T. Jost. “The Market for Belief Systems: A Formal Model of Ideological Choice.” Psychological Inquiry 33, no. 2 (2022): 65–83. https://doi.org/10.1080/1047840x.2022.2065128.' ieee: 'T. Gries, V. Müller, and J. T. Jost, “The Market for Belief Systems: A Formal Model of Ideological Choice,” Psychological Inquiry, vol. 33, no. 2, pp. 65–83, 2022, doi: 10.1080/1047840x.2022.2065128.' mla: 'Gries, Thomas, et al. “The Market for Belief Systems: A Formal Model of Ideological Choice.” Psychological Inquiry, vol. 33, no. 2, Informa UK Limited, 2022, pp. 65–83, doi:10.1080/1047840x.2022.2065128.' short: T. Gries, V. Müller, J.T. Jost, Psychological Inquiry 33 (2022) 65–83. date_created: 2022-08-29T06:41:11Z date_updated: 2022-08-30T07:35:51Z department: - _id: '202' - _id: '200' - _id: '475' doi: 10.1080/1047840x.2022.2065128 intvolume: ' 33' issue: '2' keyword: - General Psychology language: - iso: eng page: 65-83 publication: Psychological Inquiry publication_identifier: issn: - 1047-840X - 1532-7965 publication_status: published publisher: Informa UK Limited status: public title: 'The Market for Belief Systems: A Formal Model of Ideological Choice' type: journal_article user_id: '135' volume: 33 year: '2022' ...