MIT Profs. Abhijit Banerjee and Esther Duflo as well as Prof. Michael Kremer of Harvard, who won this year’s Nobel Prize in Economics, will donate their $916,000 in prize money to the Weiss Fund for Research in Development Economics. “The donations will fund research grants that support the work of development economists and students through 2035,” reports Abbi Matheson for The Boston Globe.
Prof. Esther Duflo speaks with Molly Wood, host of the Marketplace Tech podcast, about the ways in which she uses artificial intelligence to enhance her poverty research. Machine learning allows researchers to pinpoint “where the program is the most effective, and therefore where a government with limited budget would want to expand it,” explains Duflo.
Profs. Abhijit Banerjee and Esther Duflo speak with PBS NewsHour’s Paul Solman about their use of randomized control trials to address global poverty. “[T]hat's what the Duflo/Banerjee research is all about, trying to reduce the guesswork of economic development policy by seeing what seems to work, and what doesn't, at least in its current form,” explains Solman.
Principal research scientist Andrew Sutherland and a colleague at the University of Bristol have solved a decades-old math problem known as the “summing of the three cubes.” The team found the answer with the help of the platform the Charity Engine, “which utilizes idle, unused computing power from over 500,000 home PCs to create a crowdsourced and environmentally conscious supercomputer,” writes David Grossman for Popular Mechanics.
Ryan Mandelbaum writes for Gizmodo about the efforts of principal research scientist Andrew Sutherland and others to use a crowd-sourced supercomputer to solve a math problem that scientists have been working on since the 1950s. “You wait and wait and just when you’re at the point of giving up, the number shows up,” said Sutherland. “It’s very gratifying.”
MIT researchers have developed a skin patch that could be used to fight melanoma, reports Berkeley Lovelace Jr. for CNBC. “Our patch technology could be used to deliver vaccines to combat different infectious diseases,” explains Prof. Paula Hammond. “But we are excited by the possibility that the patch is another tool in the oncologists’ arsenal against cancer, specifically melanoma.”
Reuters reporter Ann Saphir writes that Prof. Athanasios Orphanides recommended the Federal Reserve adopt a new monetary policy rule to help guide decisions concerning interest rates. “Monetary policy is most effective when it is formulated in a systematic manner, following a clearly communicated monetary policy rule,” Orphanides explains.
A new study by MIT researchers finds that temperature increases caused by climate change could lead to a reduction in the energy produced by solar panels, reports Scott Snowden for Forbes. The researchers found that “on average, photovoltaic power output reduces by 0.45% for each degree increase in temperature.”
A working paper by Prof. Christopher Knittel finds that even “modest” carbon taxes could help reduce carbon emissions as much as vehicle and power plant regulations, reports Ben Geman for Axios. Knittel explains that the study’s findings “underscore the economic power of a carbon tax" compared to "economically inefficient" regulations.
Verge reporter Justine Calma writes that states in the Midwest and Great Lakes region could see $4.7 billion in health benefits by maintaining current renewable energy standards. “This research shows that renewables pay for themselves through health benefits alone,” explains Emil Dimanchev, senior research associate at MIT’s Center for Energy and Environmental Policy Research.
MIT researchers have developed an AI system that can predict Alzheimer’s risk by forecasting how patients will perform on a test measuring cognitive decline up to two years in advance, reports Casey Ross for STAT.
A new paper by MIT researchers finds that instead of raising prices, companies are replying on “shrinkflation - reducing the size of products or their quality while charging the same price,” reports Dion Rabouin for Axios.
Writing for Science, Derek Lowe spotlights how MIT researchers are developing a platform that could be used to automate the production of molecules for use in medicine, solar energy and more. “The eventual hope is to unite the software and the hardware in this area,” reports Lowe, “and come up with a system that can produce new compounds with a minimum of human intervention.”
Forbes contributor Alex Ledsom highlights a study by MIT researchers examining how a spike in attendance at the Louvre has impacted visitor behavior. “People stay for shorter periods of time visiting artwork if there are more people,” Ledsom explains, “but interestingly, people move about the Louvre in the same way regardless of whether they stay for one hour or six. They simply move around the space quicker.”
ELLE reporter Molly Langmuir spotlights the work of Prof. Neri Oxman, who is known for “producing radically interdisciplinary work.” Oxman has produced everything from “a silk pavilion—a suspended dome of silk fibers spun by a robotic arm, completed by 6,500 live silkworms—to a design concept for a wearable digestive system incorporating photosynthetic bacteria that convert solar energy into sugar.”