This paper shows that optimizing CAT bond payout structures can significantly improve disaster-risk transfer and reduce climate-related financial exposure. spkl.io/633217V77h

#ClimateRisk #Insurance

This paper finds that increasing "love" expressions from AI companions does not increase user engagement on average and may even reduce it, particularly when expressions are highly passion-oriented. spkl.io/633287VCyu

#AI #HumanAIInteraction

This paper argues that courts should address AI-generated statements through hearsay law rather than creating entirely new evidence rules. The proposal aims to close a growing gap in how courts handle AI evidence. spkl.io/633227VCYE

#AI #Law

This paper finds evidence of excess volatility that cannot be explained by standard discount-rate models. Across several financial markets, long-maturity claims are substantially more volatile than theory predicts. spkl.io/633257VCSX

#AssetPricing

This paper develops a scalable method for estimating travel behavior from aggregate mobility data, improving predictions of destination, mode, and route choices in congested transportation networks. spkl.io/633277V7f5

#Transportation #DataScience

This paper argues that giving creators broad exclusive licensing rights for AI training may primarily benefit large content industries rather than most creators. The authors propose stronger remuneration rights as an alternative. spkl.io/633257V7Fv

#AI #Copyright

This paper finds that the use of letters of credit varies systematically across firms. Younger, smaller, and foreign-owned firms are less likely to use them, while less experienced importers rely on them more. spkl.io/633227V71p

#TradeFinance

This paper finds that motivated memory can contribute to procrastination.When people receive negative information, they may form overly optimistic beliefs about future workloads, causing them to delay work. spkl.io/633227VAfK
#BehavioralEconomics

This paper argues that digitalization becomes problematic when values like efficiency, prediction, and personalization override the distinct purposes of areas such as health, education, and politics. spkl.io/633247VA0q

#TechnologyEthics #DigitalTransformation

This paper examining 10,642 firms across 85 countries finds that corporate effective tax rates fell by about 20% from 1988-2007, while multinationals and domestic firms faced broadly similar tax burdens. spkl.io/633227VLK8

#TaxPolicy

This paper finds that traditional macro and financial variables explain little of realized stock-market returns, while AI-extracted explanations from financial news account for roughly 30-40% of returns out of sample. spkl.io/633297VxcH

#AssetPricing

This paper argues that growing private equity ownership in professional sports may increase the risk of salary-cap circumvention and could eventually challenge the legal foundations protecting salary caps from antitrust scrutiny. spkl.io/633267Vxdu

#SportsLaw #PrivateEquity

This paper review highlights the growing role of employees in the corporate information environment. Workers not only produce information that affects reporting quality but also use disclosures when making employment and career decisions. spkl.io/633277Vazl
#Accounting #LaborEconomics

This paper studies why #communication about commons risks (like #climate damage) often fails to spur adequate public awareness, modeling how people contribute to a public bad under uncertainty about external harm.

Read: spkl.io/633217VRgD
Subscribe: spkl.io/633267VRgy

This paper argues that ordinary loss harvesting has become a major tax-planning strategy because of Treasury's interpretation of passive activity loss rules, not because of a gap intentionally created by Congress. spkl.io/633217VmDf

#TaxPolicy

Should frontier AI firms have limited liability? This paper argues that traditional shareholder protections may underprice AI-related risks and proposes extending liability to shareholders of frontier AI companies. spkl.io/633237VlAD

#AI #AIGovernance

This paper extends difference-in-differences methods to settings with non-binary treatments and heterogeneous effects. The framework allows researchers to estimate dose-response relationships when treatment intensity varies over time and across units. spkl.io/633287Vc8r #Econometrics

This paper finds substantial variation in #skill requirements across firms, even within the same occupation. Both #cognitive and social skills are associated with higher pay and better firm performance, and the strongest outcomes occur when the two are combined. spkl.io/633287Vifq

Does #geography still matter for innovation? New research finds that knowledge spillovers are highly local and that the location of inventors is more important than the location of headquarters.
spkl.io/633287VXVr

This paper argues that uninsurable tail risk in workers' earnings can help explain higher risk premia and return volatility in financial markets. Links labor-market risk sharing directly to asset pricing outcomes. spkl.io/633247VXbn

#AssetPricing #LaborEconomics