This paper studies a model of technology adoption: a manager tries to induce a group of workers to exert costly effort to vet a new technology before they choose whether to use it. The manager finds it too costly to simultaneously replace large groups of unproductive workers, so they shirk when coordination is possible. Widely applicable technology expands productive possibilities but also provides an opportunity for coordinated shirking, and can thus lead to widespread production failure. Furthermore, even workers who learn that they are using flawed technology may continue to do so. Applications include mortgage securitization in the financial crisis of 2008, and the adoption of generative artificial intelligence.
Quantitative mode stability for the wave equation on the Kerr-Newman spacetime
Risk-Aware Objective-Based Forecasting in Inertia Management
Chainalysis: Geography of Cryptocurrency 2023
Periodicity in Cryptocurrency Volatility and Liquidity
Impact of Geometric Uncertainty on the Computation of Abdominal Aortic Aneurysm Wall Strain
Simulation-based Bayesian inference with ameliorative learned summary statistics -- Part I