Understanding Big Data: Data Calculus in the Digital Age

INTRODUCTION:

The pervasive use of digitized information has reached a new height in what we call the era of “big data.” While this revolution has led to unprecedented societal cooperation, it has also deepened three major concerns: How can we properly protect personal privacy in the age of big data? How shall we understand the ownership and distribution of benefits and risks that arise from the use of data? Will the use of big data lead to a situation of “winner-take-all” markets that undermine competition to the detriment of consumers and society?

Luohan Academy will introduce a report titled “Understanding Big Data: Data Calculus in the Digital Era” at this frontier dialogue. In this report we intend to address some aspects of the above questions. We focus on analyzing concrete evidence using “big data,” to draw conclusions on its impact. The author team consists of multiple prominent economists from Luohan’s community, including, among others, Patrick Bolton, Bengt Holmström, Eric Maskin, Christopher Pissarides, Michael Spence, Tao Sun, Tianshu Sun, Wei Xiong, and Liyan Yang, and Luohan’s internal economists.

The goal for our dialogue series is to bring together prominent minds to share frontier research, address critical issues, and provoke discussions that matter. We cordially invite you to join the event and participate in the discussion of this important issue.

To download the full report click here: “Understanding Big Data: Data Calculus in the Digital Era”

MODERATOR:

Steve Tadelis, Professor of Economics, UC Berkeley

WORKING GROUP:

Bengt Holmström, Professor of Economics, MIT

Christopher Pissarides, Professor of Economics, LSE

Michael Spence, Professor of Economics, Stanford University

Long Chen, Director of Luohan Academy

PANELISTS: (BY SPEAKER ORDER)

Michael Spence: The Impact of Big Data on the Informational Structure of Markets and Market Performance

Long Chen: Understanding Big Data: Data Calculus in the Digital Age

Bengt Holmström: Value and Data