People I (Mostly) Admire 83. “There's So Many Problems — Which Ones Can I Make a Difference On?”
9 snips
Jul 9, 2022 
In this engaging dialogue, Susan Athey, a Professor at Stanford and chief economist at the U.S. Department of Justice's Antitrust Division, tackles pressing global issues using economic insights. She shares her journey transitioning from academia to tech, highlighting partnerships that promote innovation. The conversation dives into vaccine production and the role of advanced commitments, alongside discussions on navigating carbon markets and data privacy. Plus, Susan recounts a daring chicken rescue from a coyote, showcasing her adventurous side!
AI Snips
Chapters
Transcript
Episode notes
Bridging Machine Learning and Economics
- Machine learning experts excelled at predictive modeling, like image classification, but lacked tools for causal inference.
- Economists, however, possessed the tools to analyze cause and effect but needed to adapt them to large datasets.
Advanced Commitments
- Advanced commitments reduce uncertainty and encourage investments in socially beneficial innovations.
- They address the hold-up problem where buyers might underpay after investments are made.
Pneumococcal Vaccine Success
- The pneumococcal vaccine's development was accelerated by an advanced market commitment, saving an estimated 700,000 lives.
- This commitment ensured a market for the vaccine, incentivizing pharmaceutical companies to invest.