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More and more people are turning to AI chatbots for companionship and relationships, raising economic and ethical debates.

The Economics of Loneliness: Markets for Companionship

As AI companions become increasingly popular, serious questions are raised about the implications of "subscribing" to digital friendships. Should we be concerned about people entering AI relationships?...
5 min read
Substitution Effect
Definitions

Substitution Effect

Saddique Ansari • January 29, 2020 • 1 min read

Author bio

Substitution effect – definition

The substitution effect is the effect on demand of a price change caused by a switch to, or away from, a cheaper or more expensive alternative.

substitution effect diagram

Together with the ‘income effect’, the substitution effect provides a simple explanation of why a demand curve typically sloped downwards.


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Some remote workers are accused of time theft for only working a portion of their expected working hours.

The Economics of Time Theft: Productivity, Surveillance, and Remote Work

Is it cost-effective for companies with lots of remote workers to actively monitor them through "bossware" that tracks their online activities? Research shows that some monitoring can boost productivity, but too much can cause workers to rebel....
5 min read

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