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Could sophisticated AI software quickly determine the maximum you would pay for any item, and charge you accordingly?

Surge Pricing in the Age of AI: Fairness or Exploitation?

Some people fear that one of the many changes coming with AI is rampant price discrimination, where algorithms analyze each consumer and charge him or her the maximum price that he or she would be willing to pay. What could happen to society?...
4 min read
Stock Market Crash of 1987
Definitions Global economics Managing the economy

Stock Market Crash of 1987

Published on April 26, 2024

Understanding Shadow Price
Definitions Managing the economy

Understanding Shadow Price

Published on April 05, 2024

Human Development Index (HDI)
Definitions Managing the economy

Human Development Index (HDI)

Published on March 31, 2024

Labour Intensive
Definitions Business economics

Labour Intensive

Published on March 31, 2024

Ex-Ante Meaning
Definitions Business economics

Ex-Ante Meaning

Published on March 28, 2024

Consumer Durables
Definitions Business economics

Consumer Durables

Published on March 27, 2024

Complements Economics
Definitions Competitive markets

Complements Economics

Published on March 27, 2024

The Circular Flow Diagram
Definitions Managing the economy

The Circular Flow Diagram

Published on March 22, 2024

Marginal Utility Formula
Definitions Behavioural economics

Marginal Utility Formula

Published on March 22, 2024

Liquidity Trap
Definitions Managing the economy Global economics

Liquidity Trap

Published on March 22, 2024

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A sign signaling the pick-up location for ride share drivers, who are a major component of the gig economy.

The Gig Worker’s Dilemma: Flexibility vs. Stability

Many people find the idea of working whatever hours they choose to be appealing. Essentially, they get to be their own boss! However, unwary workers may quickly discover some disadvantages of being part of the gig economy. Why might they struggle?...
5 min read

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Polluting firms can purchase carbon offsets (also known as carbon credits) to reduce their environmental impact. Does it work?
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International Money Transfers: Reducing Transaction Costs and Enhancing Efficiency
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