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Book by Three Rotman Professors Named as Finalist for the Balsillie Prize for Public Policy

October 4, 2023

Toronto – A book on the economics of artificial intelligence, co-authored by three professors at the University of Toronto’s Rotman School of Management, has been named as one of five finalists for the Balsillie Prize for Public Policy.

The book by Profs. Ajay Agrawal, Joshua Gans, and Avi Goldfarb, Power and Prediction: The Disruptive Economics of Artificial Intelligence, published in 2022 by HBR Press, is a follow-up from Prediction Machines, published by HBR Press in 2018, which outlined their economic framework for understanding the impact of AI. In Power and Prediction, the authors go a step further to reveal AI as a prediction technology that directly impacts decision-making, and they explain how businesses can identify disruptive opportunities and threats resulting from AI. A handbook for understanding how and why AI is transforming the economy, Power and Prediction is a practical guide to shaping strategy around the new technological challenges faced by organisations everywhere.

The Balsillie Prize is awarded annually by the Writers’ Trust of Canada for a book of nonfiction that advances and influences policy debates on a wide range of social, political, economic, or cultural topics relevant to Canadians. The prize celebrates excellence in quality of thought and style and underlines the important role books play in advancing public discourse and bringing new ideas to Canadian policymakers. This is the third year for the award, which will be announced on November 28.

Ajay Agrawal is Professor of Strategic Management and Geoffrey Taber Chair in Entrepreneurship and Innovation at the University of Toronto's Rotman School of Management. He is founder of the Creative Destruction Lab, cofounder of Next 36 and Next AI, and cofounder of Sanctuary, an AI/robotics company. Ajay conducts research on the economics of innovation and is a research associate at the National Bureau of Economic Research and faculty affiliate at the Vector Institute for Artificial Intelligence.

Joshua Gans is the Jeffrey S. Skoll Chair of Technical Innovation and Entrepreneurship and Professor of Strategic Management at Toronto's Rotman School of Management. He is Chief Economist of the Creative Destruction Lab, department editor (Strategy) at Management Science, and cofounder and managing director of Core Economic Research. Joshua has published numerous books on innovation, disruption, entrepreneurship, and most recently, pandemic economics. He is a research associate at the National Bureau of Economic Research, a research affiliate at MIT, a senior academic fellow at the e61 Institute, a distinguished fellow of the Luohan Academy, and a fellow of the Academy of Social Sciences in Australia.

Avi Goldfarb is the Rotman Chair in AI and Healthcare and Professor of Marketing at Toronto's Rotman School of Management. Avi is also Chief Data Scientist at the Creative Destruction Lab, a fellow at Behavioral Economics in Action at Rotman, a faculty affiliate at the Vector Institute for Artificial Intelligence, and a research associate at the National Bureau of Economic Research. A former senior editor at Marketing Science, Avi conducts research on privacy and the economics of technology.

The Rotman School of Management is part of the University of Toronto, a global centre of research and teaching excellence at the heart of Canada’s commercial capital. Rotman is a catalyst for transformative learning, insights and public engagement, bringing together diverse views and initiatives around a defining purpose: to create value for business and society. For more information, visit


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Ken McGuffin
Manager, Media Relations
Rotman School of Management
University of Toronto