The Economics of Artificial Intelligence: An Agenda Ajay Agrawal, Joshua Gans, and Avi Goldfarb, editors Acknowledgements Introduction Ajay Agrawal, Joshua Gans, and Avi Goldfarb I. AI as a GPT 1. Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics Erik Brynjolfsson, Daniel Rock, and Chad Syverson Comment: Rebecca Henderson 2. The Technological Elements of Artificial Intelligence Matt Taddy 3. Prediction, Judgment, and Complexity: A Theory of Decision-Making and Artificial Intelligence Ajay Agrawal, Joshua Gans, and Avi Goldfarb Comment: Andrea Prat 4. The Impact of Artificial Intelligence on Innovation: An Exploratory Analysis Iain M. Cockburn, Rebecca Henderson, and Scott Stern Comment: Matthew Mitchell 5. Finding Needles in Haystacks: Artificial Intelligence and Recombinant Growth Ajay Agrawal, John McHale, and Alexander Oettl 6. Artificial Intelligence as the Next GPT: A Political-Economy Perspective Manuel Trajtenberg II. Growth, Jobs, and Inequality 7. Artificial Intelligence, Income, Employment, and Meaning Betsey Stevenson 8. Artificial Intelligence, Automation, and Work Daron Acemoglu and Pascual Restrepo 9. Artificial Intelligence and Economic Growth Philippe Aghion, Benjamin F. Jones, and Charles I. Jones Comment: Patrick Francois 10. Artificial Intelligence and Jobs: The Role of Demand James Bessen 11. Public Policy in an AI Economy Austan Goolsbee 12. Should We Be Reassured If Automation in the Future Looks Like Automation in the Past? Jason Furman 13. R&D, Structural Transformation, and the Distribution of Income Jeffrey D. Sachs 14. Artificial Intelligence and Its Implications for Income Distribution and Unemployment Anton Korinek and Joseph E. Stiglitz 15. Neglected Open Questions in the Economics of Artificial Intelligence Tyler Cowen III. Machine Learning and Regulation 16. Artificial Intelligence, Economics, and Industrial Organization Hal Varian Comment: Judith Chevalier 17. Privacy, Algorithms, and Artificial Intelligence Catherine Tucker 18. Artificial Intelligence and Consumer Privacy Ginger Zhe Jin 19. Artificial Intelligence and International Trade Avi Goldfarb and Daniel Trefler 20. Punishing Robots: Issues in the Economics of Tort Liability and Innovation in Artificial Intelligence Alberto Galasso and Hong Luo IV. Machine Learning and Economics 21. The Impact of Machine Learning on Economics Susan Athey Comment: Mara Lederman 22. Artificial Intelligence, Labor, Productivity, and the Need for Firm-Level Data Manav Raj and Robert Seamans 23. How Artificial Intelligence and Machine Learning Can Impact Market Design Paul R. Milgrom and Steven Tadelis 24. Artificial Intelligence and Behavioral Economics Colin F. Camerer Comment: Daniel Kahneman Author Index Subject Index