Generative AI technology holds immense transformative potential, with applications spanning from text generation to image creation and scientific discovery. Yet, its rapid development and adoption have introduced significant legal and ethical concerns, such as potential cybersecurity risks, misinformation, unsustainability, and algorithmic discrimination. The Oxford Handbook of the Foundations and Regulation of Generative AI offers theoretical insights and practical recommendation...

Choice is a key concept of our time. It is a foundational mechanism for every legal order in societies that are, politically, constituted as democracies and, economically, built on the market mechanism. Thus, choice can be understood as an atomic structure that grounds core societal processes. In recent years, however, the debate over the right way to theorize choice - for example, as a rational or a behavioral type of decision making - has intensified. This collection provides an in-depth...

Less than a decade after the Financial Crisis, we are witnessing the fast emergence of a new financial order driven by three different, yet interconnected, dynamics: first, the rapid application of technology - such as big data, machine learning, and distributed computing - to banking, lending, and investing, in particular with the emergence of virtual currencies and digital finance; second, a disintermediation fuelled by the rise of peer-to-peer lending platforms and crowd investment whic...

A smart, incisive work of technology criticism that examines the technologies sold as artificial intelligence, the drawbacks of systems sold under this banner, and why it’s crucial to recognize the many ways in which AI hype covers for a small set of power-hungry actors.Is artificial intelligence going to take over the world? Have big tech scientists created an artificial lifeform that can think on its own? Is it going to put authors, artists, and others out of bus...

**From two of TIME’s 100 Most Influential People in AI, what you need to know about AI—and how to defend yourself against bogus AI claims and productsConfused about AI and worried about what it means for your future and the future of the world? You’re not alone. AI is everywhere—and few things are surrounded by so much hype, misinformation, and misunderstanding. In AI Snake Oil, computer scientists Arvind Narayanan and Sayash Kapoor cut through the confus...

The controversial science that claims to have revolutionised economics.For centuries, economics was dominated by the idea that we are rational individuals who optimise our own 'utility'. Then, in the 1970s, psychologists demonstrated that the reality is a lot messier. We don't really know what our utility is, and we care about people other than ourselves. We are susceptible to external nudges. And far from being perfectly rational we are prone to 'cognitive biases'...

A leading economist discusses the potential of happiness research (the quantification of well-being) to answer important questions that standard economics methods are unable to analyze.Revolutionary developments in economics are rare. The conservative bias of the field and its enshrined knowledge make it difficult to introduce new ideas not in line with received theory. Happiness research, however, has the potential to change economics substantially in the future. ...

The Ethics of Artificial Intelligence has two goals. The first goal is meta-theoretical and is fulfilled by Part One, which comprises the first three chapters: an interpretation of the past (Chapter 1), the present (Chapter 2), and the future of AI (Chapter 3). Part One develops the thesis that AI is an unprecedented divorce between agency and intelligence. On this basis, Part Two investigates the consequences of such a divorce, developing the thesis that AI as a new form of agenc...

The analysis of how institutions are formed, how they operate and change, and how they influence behavior in society has become a major subject of inquiry in politics, sociology, and economics. A leader in applying game theory to the understanding of institutional analysis, Elinor Ostrom provides in this book a coherent method for undertaking the analysis of diverse economic, political, and social institutions.Understanding Institutional Diversity explains the Institutiona...

This volume tackles a quickly-evolving field of inquiry, mapping the existing discourse as part of a general attempt to place current developments in historical context; at the same time, breaking new ground in taking on novel subjects and pursuing fresh approaches. The term "A.I." is used to refer to a broad range of phenomena, from machine learning and data mining to artificial general intelligence. The recent advent of more sophisticated AI systems, which function with partial or full a...

Of the twenty most costly catastrophes since 1970, more than half have occurred since 2001. Is this an omen of what the 21st century will be? How might we behave in this new, uncertain and more dangerous environment? Will our actions be rational or irrational?A select group of scholars, innovators, and Nobel Laureates was asked to address challenges to rational decision making both in our day-to-day life and in the face of catastrophic threats such as climate changes, natural disas...

While technology advances at a high pace in the age of machine learning, there is a lack of clear intent and framing of acceptable ethical standards. This book brings together the complex topic of "good" technology in a cross-functional way, alternating between theory and practice.The authors address the ever-expanding discussion on Artificial Intelligence (AI) and ethics by providing an orientation. Pragmatic and recent issues are especially taken into account such as the collater...