Max R. P. Grossmann

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Max R. P. Grossmann

Max R. P. Grossmann

@gr0ssmann

Economist @UniMelb · Formerly @UniCologne @UT_Dallas · Visited @FCEAJaveriana @Mercatus @Vinson_Centre · Dr. rer. pol. · Working on https://t.co/C357tR7Xls

Melbourne, Victoria Katılım Aralık 2009
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Max R. P. Grossmann
Max R. P. Grossmann@gr0ssmann·
Ihr werdet noch gottlos versklavt werden.
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jack
jack@jack·
just setting up my twttr
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Max R. P. Grossmann
Max R. P. Grossmann@gr0ssmann·
Desweiteren: zahlreiche Staatsanwälte, Beamte, usw. — sanctions concentrate the mind wonderfully.
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Dwarkesh Patel
Dwarkesh Patel@dwarkesh_sp·
Terence Tao spent a year at the Institute for Advanced Study - no teaching, no random events of committees, just unlimited time to think. But after a few months, he ran out of ideas. Terence thinks that mathematicians and scientists need a certain level of randomness and inefficiency to come up with new ideas.
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Max R. P. Grossmann
Max R. P. Grossmann@gr0ssmann·
I feel like the following point is underappreciated and underemphasized in micro 101: under price caps, without specifying a rationing rule, theory alone tells us almost nothing about which demanders are served. Indeed, the standard DWL triangle is the BEST case!
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James Bland
James Bland@JamesBland_Econ·
@gr0ssmann The only rationing case I can envisage where the high-value buyers end up with the good is when they have to line up and waste time to be the ones that get it. The DWL for this is pretty big.
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Max R. P. Grossmann
Max R. P. Grossmann@gr0ssmann·
For older people, the net benefit is much larger, maybe about 20 micromorts even if you’re healthy. That’s like 4 scuba dives! Doesn’t change the fact that the flu vaccine is one of the worst-performing vaccines out there. 😔
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Max R. P. Grossmann
Max R. P. Grossmann@gr0ssmann·
Reminder that there are still no decision markets for flu vaccine composition. At my age, the flu vaccine yields a net benefit of around 0.2 micromorts (reduction in baseline mortality). I would be willing to pay for it, but not much. en.wikipedia.org/wiki/Micromort
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Max R. P. Grossmann
Max R. P. Grossmann@gr0ssmann·
Process and the individual (human) action of market participants really, really matters. All of this is lost in standard micro 101.
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Richard Hanania
Richard Hanania@RichardHanania·
Academics seem to believe in the labor theory of value when it comes to AI. The question is whether the work is any good.
Orin Kerr@OrinKerr

An attorney writes to me about the mostly AI-written law review article he had accepted this spring, now forthcoming in the flagship law review of a Top 50 law school. A draft of the article is now up on SSRN. According to the attorney: " Last month I used Claude to assist in drafting a new article . . . . I drafted this article in about 15 hours. In 2022 I published an article of similar length that took around 150 hours." The attorney adds: "I used Claude the way I’d use a junior associate—as a first drafter, sounding board, and research assistant. Most of the article, including the entirety of the title, abstract, and intro, is mine from the keyboard up. And anything Claude contributed that made it to the final version is there because I reviewed it, agreed with it, and chose to sign my name to it. This is no different than how I’d review an associate’s draft and then take responsibility for the finished product." The attorney adds: "That first draft was by no means file ready, but it was better than what I would’ve received from the vast majority of BigLaw associates. I was blown away, and have since started my own appellate and litigation practice in an effort to replicate these productivity gains for client work." Your thoughts? I know the attorney's name, and the journal, and I have checked out the article, but I figured that, at least for now, I would hold that back.

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Max R. P. Grossmann
Max R. P. Grossmann@gr0ssmann·
Views expressed here are mine and do not necessarily reflect those of the Federal Reserve Bank of Cleveland.
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