The authors would like to thank the organizers and participants at the first NBER conference on
the Economics of Artificial Intelligence, and in particular our discussant Matthew Mitchell for
many helpful suggestions and ideas. Michael Kearney provided extraordinary research assistance.
The views expressed herein are those of the authors and do not necessarily reflect the views of the
National Bureau of Economic Research. Funding for this paper was provided by the MIT Sloan
School of Management, by the HBS Division of Research and by the Questrom School of
Management.
At least one co-author has disclosed a financial relationship of potential relevance for this
research. Further information is available online at http://www.nber.org/papers/w24449.ack
NBER working papers are circulated for discussion and comment purposes. They have not been
peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies
official NBER publications.
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