I asked ChatGPT to write a paper about the Biden airline compensation policy and its impact on prices. With a bit of prompting, this is what it produced. Looks essentially right although I suspect functional forms will get at something more precise. dropbox.com/s/jncakqekweg70x…

Airline_Compensation.pdf

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May 10, 2023 · 2:38 PM UTC

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Actually I think it could have done more if it had analysed that incentives for improvements prior to compensation being required. An airline might do that to increase the price charged to customers if xd > c. In that case, the policy has no effect on prices or quantities.
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If xd < c, then an airline’s costs rise to c (if c < xR) or xR (if c > xR) but consumer demand if D(P) or D(P + x(d-R)) compared with D(P+xd) before. That is essentially the case ChatGPT analysed.
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Replying to @joshgans
Great! In case you were curious, here is your "anonymous" ChatGPT review. The final verdict: revision needed :)
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Replying to @joshgans
The Appendix should include the prompts.
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Replying to @joshgans
Impressive. Will you publish the prompts?
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Replying to @joshgans
Is vague with too many "if's" to provide any value add. Plus, you apply your own general knowledge/logic to conclude looks essentially right. What if is topic where prompter lacks knowledge, eg I'm no chef, so could produce a recipe for me that would lead to poor result.