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Benchmark Mineability and the Financing of AI Innovation / Alex Chan.

NBER Working papers Available online

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Format:
Book
Author/Creator:
Chan, Alex.
Contributor:
National Bureau of Economic Research.
Series:
Working Paper Series (National Bureau of Economic Research) no. w35641.
NBER working paper series no. w35641
Language:
English
Physical Description:
1 online resource: illustrations (black and white);
Place of Publication:
Cambridge, Mass. National Bureau of Economic Research 2026.
Summary:
Public AI benchmarks steer research and allocate investments. They are therefore market designs. Public examples can reveal the process behind a private final test, while a finite public score cannot cover a broad task space inherent to general intelligence. I show how both gaps become profitable when scores move capital and how targeted effort erodes the signal used by later investors. The market design lesson is to separate development from certification: publish practice tasks, but choose the investment-consequential generator after the submitted system's evaluation policy is fixed.
Notes:
August 2026.
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