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Despite the rapid adoption of LLM chatbots, little is known about how they are used. We approach this question theoretically and empirically, modeling a user who chooses whether to complete a task herself, ask the chatbot for information that reduces decision noise, or delegate execution to the chatbot...
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Despite the rapid adoption of LLM chatbots, little is known about how they are used. We approach this question theoretically and empirically, modeling a user who chooses whether to complete a task herself, ask the chatbot for information that reduces decision noise, or delegate execution to the chatbot...
AI coding agents now complete multi-hour coding benchmarks with roughly 50% reliability, yet a randomized trial found experienced open-source developers took about 19% longer when allowed frontier AI tools than when tools were disallowed...
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AI coding agents now complete multi-hour coding benchmarks with roughly 50% reliability, yet a randomized trial found experienced open-source developers took about 19% longer when allowed frontier AI tools than when tools were disallowed...
The African Olympiad Academy is a world-class high school dedicated to training Africa’s most promising students in mathematics, science, and artificial intelligence through olympiad-based pedagogy.

The African Olympiad Academy is a world-class high school dedicated to training Africa’s most promising students in mathematics, science, and artificial intelligence through olympiad-based pedagogy.
E-commerce represents a rapidly growing share of consumer spending in the United States. We use transaction-level data on credit and debit cards from Visa, Inc. between 2007 and 2017 to quantify the resulting consumer surplus. We estimate that e-commerce spending reached 8% of consumption by 2017, yielding consumers the equivalent of a 1% permanent boost to their consumption, or over $1,000 per household per year. While some of the gains arose from avoiding travel costs of buying from local merchants, most of the gains stemmed from substituting to merchants available online but not locally. Higher income cardholders gained more, as did consumers in more densely populated counties.
