Symbol y
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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:
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Symbol s
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Equation 8 · AI Economics & Systems
The Jagged Frontier Fallacy: Deconstructing Harvard's Canonical AI Productivity Study
This mathematical expression combines the displayed quantities; its precise role follows from the surrounding article text.
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:
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