Luis Garicano 🇪🇺🇺🇦 @lugaricano@respublicae.eu

I oscillate between:

"Don't worry, it is just a smarter auto-complete".

And:

"Wait, how much of our brain function is just auto-complete"?

Today, feeling closer to (2)
https://nyti.ms/3xpsk5d

🐦🔗: https://n.respublicae.eu/lugaricano/status/1626220821399343107

The previous tweet was about the scary bit. This conversation with Bing AI is as mind blowing, but in a positive sense.
RT @emollick: Wow.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1626215506545086465

@mattsteinglass @nytimes I agree, it is all in there somewhere in the web. But we do not know what being human really means. How much of our brain function is basically just auto-complete as well? I was quite surprised by the conversation.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1626213854987575296

This conversation between @nytimes journalist and Bing AI is mind-blowing, straight out of science fiction. The Bing AI bot is angry, in love, makes accusations, reveals evil "desires" This is moving too fast. https://nyti.ms/3xpsk5d

🐦🔗: https://n.respublicae.eu/lugaricano/status/1626203850070986752

@josephmullins @vectornomist It must have been my first or second AEA meetings. I was walking through the lobby and met Oliver Williamson, who was chairing my session the following day.
I said:
"Hello Prof Williamson."
He answered:
"Where were you? We just had our session and waited for you for 15 minutes".

🐦🔗: https://n.respublicae.eu/lugaricano/status/1626057928108130306

Bonsai pre-docs
RT @rkoenker: @lugaricano @IvanWerning Exemplified by this New Yorker piece on training to make bonsai:
https://www.newyorker.com/magazine/2022/11/21/the-beautiful-brutal-world-of-bonsai

🐦🔗: https://n.respublicae.eu/lugaricano/status/1626034086111285254

@jaumevivesb ¡Enhorabuena!

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625866723915100161

@IvanWerning It reminds me of this paper I did with Luis Rayo- master extracts all surplus by teaching as s-l-o-w-l-y as possible to keep the apprentice generating output. https://www.aeaweb.org/articles?id=10.1257/aer.20160194

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625679628000952324

RT @beenwrekt: Terrifyingly hilarious overview of an insane number of mistakes in last week’s Bing/ChatGPT demo. Why did Google lose 10% of their value for a technicality, but Microsoft threw up 50 minutes of bullshit and no one noticed?

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625667897304416256

Congratulations to @NezihGuner. He has big shoes to fill: Rafael Repullo has done an outstanding job in building a top research institution in Madrid from scratch. The challenge now is to consolidate it. I wish him the best of luck.
RT @CEMFInews: The Board of Trustees of CEMFI has appointed Professor @NezihGuner as new Director. Nezih will replace Rafael Repullo as director of CEMFI after 36 years of service. (1/2)
https://www.cemfi.es/news/announcement_new_director.asp

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625485906521247745

RT @StationCDRKelly: .@elonmusk Credible first person reports from the frontlines indicate Starlink is being restricted even for military comm. Precision strike in defense of sovereignty is not escalatory. Putin will not stop until he is defeated on the battlefield. Starlink is essential. Thank you.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625232607675035648

RT @ianbremmer: keeping internet service going during an invasion: invaluable
keeping the on/off switch in the hands of one guy: dangerous

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625232362232766464

Current account figures are consistent with export revenue figures from US Treasury (my previous tweet). Russia's economy is hurting.

We cannot give up on sanctions when we really are just starting.
RT @RobinBrooksIIF: Putin's energy windfall is over. After huge current account surpluses in 2022 (red), the Jan 2023 surplus (orange) was below its historical average for Jan (blue). The West has huge power to undermine Russia's war machine. We can cut the flow of mo…

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625226646268821504

Excellent news from the US Treasury: the price cap appears to be working - large drop in oil revenue for the Russian government, less than half than when the invasion started-- and without significant disturbances in the oil market.
RT @AsstSecEcon: Assessing the two goals of the price cap policy two months since implementation:

✅ Russian oil revenues plummeting
✅ Global energy markets remain well-supplied

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625221409504112641

@anup_malani @HP Printing is stuck in 1997. If they answer, ask them about paper jams ;-)

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625165105842331649

@FAZnet: "German Economists are world class, but have turned their backs on Germany." True also for Italian, French, Spanish... not just top economists, but also top scientists.
When it comes to building world class Universities the UE (not Switz. or UK!) is all talk, no action.
RT @JoPennekamp: Goodbye Deutschland: Deutsche Ökonomen sind Weltklasse - ihrer Heimat haben sie aber meistens den Rücken gekehrt. Ein Verlust. ⁦⁦@umalmend⁩ ⁦@stroebel_econ⁩ ⁦@MarkusEcono…

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625163936659120129

@ylecun So @ylecun, why don't you let us try it! (Galactica, that is) Maybe only to people with a .edu address, to ensure some pre-existing knowledge and context? Of course, I know, academics are often the worst.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625134567223967752

RT @ylecun: My unwavering opinion on current (auto-regressive) LLMs
1. They are useful as writing aids.
2. They are "reactive" & don't plan nor reason.
3. They make stuff up or retrieve stuff approximately.
4. That can be mitigated but not fixed by human feedback.
5. Better systems will come

🐦🔗: https://n.respublicae.eu/lugaricano/status/1625133124840562692

@randypicker Which ones?

🐦🔗: https://n.respublicae.eu/lugaricano/status/1624813884728135682