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BEGIN:VEVENT
UID:58854a9bbd607153474b0ed83046d68f
CATEGORIES:Seminars
CREATED:20241125T131747
SUMMARY:Lunch Seminar: Sergio Rebelo - Northwestern University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><em><strong>Regulating Artificial Intelligence</strong></em></p><p>Abstr
 act:</p><p style="text-align: justify;">Recent AI advancements promise subs
 tantial benefits but also pose significant societal risks. We show that an 
 unregulated equilibrium is unlikely to mitigate these risks in a socially o
 ptimal way. Our analysis evaluates different regulatory approaches to AI, t
 aking into account the presence of uncertainty and disagreement about the l
 ikelihood of misalignments that can generate societal costs. We characteriz
 e the Pigouvian taxes that deliver the efficient allocation. Our analysis e
 mphasizes the practical difficulties of implementing these taxes when devel
 opers are protected by limited liability or when they hold different belief
 s from the rest of society. We study the optimal time-consistent combinatio
 n of testing and regulatory approval. While this policy does not guarantee 
 efficient use of resources, it enables society to harness AI's benefits whi
 le mitigating its risks.</p>
DTSTAMP:20260415T001825Z
DTSTART:20250115T130000Z
DTEND:20250115T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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