2 papers
econ.GN2025
Will Neural Scaling Laws Activate Jevons' Paradox in AI Labor Markets? A Time-Varying Elasticity of Substitution (VES) Analysis
Rajesh P. Narayanan, R. Kelley Pace
We develop a formal economic framework to analyze whether neural scaling laws in artificial intelligence will activate Jevons' Paradox in labor markets, potentially leading to incr…
econ.GN2025
Can the Nexus of Scaling Laws Coupled with Constant or Variable Elasticity of Substitution Predict AI and Other Technology Adoption?
Rajesh P. Narayanan, R. Kelley Pace
Emergent technologies such as solar power, electric vehicles, and artificial intelligence (AI) often exhibit exponential or power function price declines and various ``S-curves'' o…