A Reverse Adverse Selection Effect Enabled by Big Data
June 19, 2024

Michael Spence is a Nobel laureate and a Professor of Management from Stanford University. His research focuses on economic policy in emerging markets, the economics of information, and the impact of leadership on economic growth.

In the third Luohan Academy Frontier Dialogue, Professor Spence shared his opinions on how big data and AI could positively impact the informational structures of markets through reducing pooling equilibriums, and creating more precise and effective product differentiation.


Speaker’s presentation by Michael Spence 

Thank you, Steve and thank you, Long. And greetings to everybody wherever you are. I got lucky this time, it's actually daytime. This is an amazing gathering of scholarly talent and practical experience, and it's a real privilege for me to be part of it. 

I want to take a minute and congratulate Chen Long and his colleagues for building a really important research institution in a startlingly small number of years. It's really an impressive achievement. There's prolific output, much of it available on the Luohan Academy website, and it includes two really major complimentary reports. The first one was, "Digital Technology and Inclusive Growth." Then we have the one that's being released today that Steve mentioned, "Understanding Big Data: Data Calculus in The Digital Era."
The first documents for Chinese e-commerce and fintech the inclusive features of the growth patterns enabled by these digital technologies, specifically open, platform centered and architected digital ecosystems

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