Generative AI makes options cheap and shifts the bottleneck of creative work from generating options to screening them. We argue that AI's value depends on whether its options arrive before or after the team's screen. In our model, early options compete for a place in the portfolio; late options arrive after that compe...
Di-Fang Huang, Shuang Yu, Fa-Dong Chen et al.· 0 citations
We examine whether post-origin training information inflates the measured accuracy and economic value of financial forecasts. We evaluate five sets of financial time-series foundation models, each comprising independently trained annual vintages under U.S., global, and factor-augmented training environments, across 14...
Hai-Qiang Chen, Li Chen, Yun-Long Chen et al.· 1 citation
Firms covered by emissions trading systems need forecasts not only to value allowances, but also to decide when to buy them. This paper asks whether European Union Allowance (EUA) prices contain short-horizon predictability that survives a forecast-origin information design and improves simulated compliance procurement...
Muzi Chen, Di-Fang Huang, Shouyang Wang et al.· 0 citations
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