Economics in the Age of Algorithms

Sendhil Mullainathan

AEA Papers and Proceedings, 2025, vol. 115, 1-23

Abstract: The rise of algorithms, particularly machine learning, does more than impact the economy. These tools offer new empirical methods. They enable new kinds of interventions. And foundational theories must be changed to account for them. Economics is, at its heart, about decisions. Because they change how we study, model, and improve decisions, algorithms should transform not just the economy but economics itself.

JEL-codes: A11 C45 D78 D80 D90 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1257/pandp.20251118

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