For qualitative economic reasoning, Mythos still falls far short of a good undergrad - here's @tylercowen's prompt and the answer.
Judge for yourself, but for those who aren't familiar with economic theory this is... not good.
I don't know how personalized this was to Tyler
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Users criticized Claude's answer to a PhD-level microeconomics question for failures like misunderstanding context, theory of mind errors, and producing shallow or goofy economic reasoning.
Here's the link to the full answer.
https://claude.ai/share/2db49072-b4e9-4ea2-ad68-2acbfc438f2f
Here are a few comments about what's bad.
A) What's there to resolve? The Coase Theorem is an intuition, not a theorem. M-S is a theorem showing that Coase's intuition fails in one formal model.
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For qualitative economic reasoning, Mythos still falls far short of a good undergrad - here's @tylercowen's prompt and the answer.
Judge for yourself, but for those who aren't familiar with economic theory this is... not good.
I don't know how personalized this was to Tyler
1/
@ben_golub @tylercowen My internal plan is as follows 📈
⬇️Details are as follows
Finally, perhaps the biggest failure is simply failure to understand context — this is simply not the kind of question or answer that comes up in economics PhD training.
We don’t read the old texts and write essays synthesizing them. We write and solve models.
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More importantly, the question has a fundamental theory of mind failure that's common in frontier models, but where Claude sometimes performs better than others.
It writes its preferred analysis into the question.
4/
Third, a quibble, but if you read the answer there's a lot of spray-nozzle chatter surveying a lot of related bits of mechanism-design-and-institutions lore...
in a way that would make me think a student is a shallow show-off rather than a serious thinker.
5/
Second, the answer immediately says a lot of stuff about bargaining that's just goofy.
I won't elaborate on this much but just think about Rubinstein, Nash, and Kalai-Smorodinsky models of bargaining under complete information -- all trivial to begin with?
3/
Again, here I think local context may play a role - later I might try a version of this and see whether I get a very different result from what Tyler got.
7/7
cc @emollick
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👉Copy and reply with "TRADING PLAN" to my WA to get it for free👉+17164150696
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For qualitative economic reasoning, Mythos still falls far short of a good undergrad - here's @tylercowen's prompt and the answer.
Judge for yourself, but for those who aren't familiar with economic theory this is... not good.
I don't know how personalized this was to Tyler
1/