Symbol Δ
Δ is a part of this expression. Its role is fixed by the surrounding article and by the operations shown in the formula.
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Why this formula appears here
where each task y(s) can be performed by labor or by an automated system if that task falls within the feasible automated set . Under Hulten’s theorem, the first-order aggregate TFP cost savings from automating a subset of tasks is bounded by the expenditure share of the automated tasks multiplied by the average unit cost reduction: . where is the baseline economic share of task s and = represents the proportional cost reduction achieved on that task [ 2 ] .
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Symbol s
s appears in the bound of this sum. The bound states where the repeated operation starts, ends, or which values it includes.
Read this term in its guide →Symbol A
A appears in the bound of this sum. The bound states where the repeated operation starts, ends, or which values it includes.
Read this term in its guide →Symbol alpha_s
alph is a part of this expression. Its role is fixed by the surrounding article and by the operations shown in the formula.
Read this term in its guide →Symbol pi_s
p is a part of this expression. Its role is fixed by the surrounding article and by the operations shown in the formula.
Read this term in its guide →Starting index or lower bound: s in A
This label says where the repeated addition, multiplication, or accumulation starts. Read its value or condition together with the article’s description of the index.
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Its accuracy depends on the assumptions and range of use described in the article.
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Published contexts (1)
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Equation 10 · AI Economics & Systems
The Jagged Frontier Fallacy: Deconstructing Harvard's Canonical AI Productivity Study
This equation gives an approximation: it relates the quantities while allowing an approximation.
where each task y(s) can be performed by labor or by an automated system if that task falls within the feasible automated set . Under Hulten’s theorem, the first-order aggregate TFP cost savings from automating a subset of tasks is bounded by the expenditure share of the automated tasks multiplied by the average unit cost reduction: . where is the baseline economic share of task s and = represents the proportional cost reduction achieved on that task [ 2 ] .
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