The Economy of Algorithms


Book Description

Welcome to the economy of algorithms. It’s here and it’s growing. In the past few years, we have been flooded with examples of impressive technology. Algorithms have been around for hundreds of years, but they have only recently begun to ‘escape’ our understanding. When algorithms perform certain tasks, they’re not just as good as us, they’re becoming infinitely better, and, at the same time, massively more surprising. We are so impressed by what they can do that we give them a lot of agency. But because they are so hard to comprehend, this leads to all kinds of unintended consequences. In the 20th century, things were simple: we had the economy of corporations. In the first two decades of the 21st century, we saw the emergence of the economy of people, otherwise known as the digital economy, enabled by the internet. Now we’re seeing a new economy take shape: the economy of algorithms.




The Economy of Algorithms


Book Description

Welcome to the economy of algorithms. It’s here and it’s growing. In the past few years, we have been flooded with examples of impressive technology. Algorithms have been around for hundreds of years, but they have only recently begun to ‘escape’ our understanding. When algorithms perform certain tasks, they’re not just as good as us, they’re becoming infinitely better, and, at the same time, massively more surprising. We are so impressed by what they can do that we give them a lot of agency. But because they are so hard to comprehend, this leads to all kinds of unintended consequences. In the 20th century, things were simple: we had the economy of corporations. In the first two decades of the 21st century, we saw the emergence of the economy of people, otherwise known as the digital economy, enabled by the internet. Now we’re seeing a new economy take shape: the economy of algorithms.




Algorithms and the End of Politics


Book Description

As the US contends with issues of populism and de-democratization, this timely study considers the impacts of digital technologies on the country’s politics and society. Timcke provides a Marxist analysis of the rise of digital media, social networks and technology giants like Amazon, Apple, Facebook and Microsoft. He looks at the impact of these new platforms and technologies on their users who have made them among the most valuable firms in the world. Offering bold new thinking across data politics and digital and economic sociology, this is a powerful demonstration of how algorithms have come to shape everyday life and political legitimacy in the US and beyond.




Algorithmic Antitrust


Book Description

Algorithms are ubiquitous in our daily lives. They affect the way we shop, interact, and make exchanges on the marketplace. In this regard, algorithms can also shape competition on the marketplace. Companies employ algorithms as technologically innovative tools in an effort to edge out competitors. Antitrust agencies have increasingly recognized the competitive benefits, but also competitive risks that algorithms entail. Over the last few years, many algorithm-driven companies in the digital economy have been investigated, prosecuted and fined, mostly for allegedly unfair algorithm design. Legislative proposals aim at regulating the way algorithms shape competition. Consequently, a so-called “algorithmic antitrust” theory and practice have also emerged. This book provides a more innovation-driven perspective on the way antitrust agencies should approach algorithmic antitrust. To date, the analysis of algorithmic antitrust has predominantly been shaped by pessimistic approaches to the risks of algorithms on the competitive environment. With the benefit of the lessons learned over the last few years, this book assesses whether these risks have actually materialized and whether antitrust laws need to be adapted accordingly. Effective algorithmic antitrust requires to adequately assess the pro- and anti-competitive effects of algorithms on the basis of concrete evidence and innovation-related concerns. With a particular emphasis on the European perspective, this book brings together experts and scrutinizes on the implications of algorithmic antitrust for regulation and innovation.




The Economics of Artificial Intelligence


Book Description

A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.




Algorithms of Oppression


Book Description

Acknowledgments -- Introduction: the power of algorithms -- A society, searching -- Searching for Black girls -- Searching for people and communities -- Searching for protections from search engines -- The future of knowledge in the public -- The future of information culture -- Conclusion: algorithms of oppression -- Epilogue -- Notes -- Bibliography -- Index -- About the author




What Algorithms Want


Book Description

The gap between theoretical ideas and messy reality, as seen in Neal Stephenson, Adam Smith, and Star Trek. We depend on—we believe in—algorithms to help us get a ride, choose which book to buy, execute a mathematical proof. It's as if we think of code as a magic spell, an incantation to reveal what we need to know and even what we want. Humans have always believed that certain invocations—the marriage vow, the shaman's curse—do not merely describe the world but make it. Computation casts a cultural shadow that is shaped by this long tradition of magical thinking. In this book, Ed Finn considers how the algorithm—in practical terms, “a method for solving a problem”—has its roots not only in mathematical logic but also in cybernetics, philosophy, and magical thinking. Finn argues that the algorithm deploys concepts from the idealized space of computation in a messy reality, with unpredictable and sometimes fascinating results. Drawing on sources that range from Neal Stephenson's Snow Crash to Diderot's Encyclopédie, from Adam Smith to the Star Trek computer, Finn explores the gap between theoretical ideas and pragmatic instructions. He examines the development of intelligent assistants like Siri, the rise of algorithmic aesthetics at Netflix, Ian Bogost's satiric Facebook game Cow Clicker, and the revolutionary economics of Bitcoin. He describes Google's goal of anticipating our questions, Uber's cartoon maps and black box accounting, and what Facebook tells us about programmable value, among other things. If we want to understand the gap between abstraction and messy reality, Finn argues, we need to build a model of “algorithmic reading” and scholarship that attends to process, spearheading a new experimental humanities.




Virtual Competition


Book Description

“A fascinating book about how platform internet companies (Amazon, Facebook, and so on) are changing the norms of economic competition.” —Fast Company Shoppers with a bargain-hunting impulse and internet access can find a universe of products at their fingertips. But is there a dark side to internet commerce? This thought-provoking exposé invites us to explore how sophisticated algorithms and data-crunching are changing the nature of market competition, and not always for the better. Introducing into the policy lexicon terms such as algorithmic collusion, behavioral discrimination, and super-platforms, Ariel Ezrachi and Maurice E. Stucke explore the resulting impact on competition, our democratic ideals, our wallets, and our well-being. “We owe the authors our deep gratitude for anticipating and explaining the consequences of living in a world in which black boxes collude and leave no trails behind. They make it clear that in a world of big data and algorithmic pricing, consumers are outgunned and antitrust laws are outdated, especially in the United States.” —Science “A convincing argument that there can be a darker side to the growth of digital commerce. The replacement of the invisible hand of competition by the digitized hand of internet commerce can give rise to anticompetitive behavior that the competition authorities are ill equipped to deal with.” —Burton G. Malkiel, Wall Street Journal “A convincing case for the need to rethink competition law to cope with algorithmic capitalism’s potential for malfeasance.” —John Naughton, The Observer




Economics and Computation


Book Description

This textbook connects three vibrant areas at the interface between economics and computer science: algorithmic game theory, computational social choice, and fair division. It thus offers an interdisciplinary treatment of collective decision making from an economic and computational perspective. Part I introduces to algorithmic game theory, focusing on both noncooperative and cooperative game theory. Part II introduces to computational social choice, focusing on both preference aggregation (voting) and judgment aggregation. Part III introduces to fair division, focusing on the division of both a single divisible resource ("cake-cutting") and multiple indivisible and unshareable resources ("multiagent resource allocation"). In all these parts, much weight is given to the algorithmic and complexity-theoretic aspects of problems arising in these areas, and the interconnections between the three parts are of central interest.




Introduction to Algorithms, third edition


Book Description

The latest edition of the essential text and professional reference, with substantial new material on such topics as vEB trees, multithreaded algorithms, dynamic programming, and edge-based flow. Some books on algorithms are rigorous but incomplete; others cover masses of material but lack rigor. Introduction to Algorithms uniquely combines rigor and comprehensiveness. The book covers a broad range of algorithms in depth, yet makes their design and analysis accessible to all levels of readers. Each chapter is relatively self-contained and can be used as a unit of study. The algorithms are described in English and in a pseudocode designed to be readable by anyone who has done a little programming. The explanations have been kept elementary without sacrificing depth of coverage or mathematical rigor. The first edition became a widely used text in universities worldwide as well as the standard reference for professionals. The second edition featured new chapters on the role of algorithms, probabilistic analysis and randomized algorithms, and linear programming. The third edition has been revised and updated throughout. It includes two completely new chapters, on van Emde Boas trees and multithreaded algorithms, substantial additions to the chapter on recurrence (now called “Divide-and-Conquer”), and an appendix on matrices. It features improved treatment of dynamic programming and greedy algorithms and a new notion of edge-based flow in the material on flow networks. Many exercises and problems have been added for this edition. The international paperback edition is no longer available; the hardcover is available worldwide.