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Today, thanks to Application Programming Interfaces (APIs), diverse software can communicate with each other.

API Economies and the Modularization of Production

The dozens of apps on your phone can communicate with each other thanks to Application Programming Interfaces (APIs), which revolutionized software beginning in the year 2000. What are the economic ramifications of modularized production, where add-ons and expansions abound?...
4 min read
Statue of lady justice being blind.
Behavioural economics Business economics Competitive markets

Access to Justice and Credit Constraints: Credit Rationing in Personal Injury Litigation

Published on March 05, 2025

 A bicycle parked outside a MoneyGram store, showcasing a typical urban setting.

Payday Lending as a Price of Liquidity: What the Data Says About Short-Term Credit

Published on March 05, 2025

Bitcoin coin on a laptop keyboard with a rising cryptocurrency price chart in the background.

The Hidden Economic Impact of Malware on Businesses

Published on March 05, 2025

Digital tax concept with the word “TAX” surrounded by financial charts, analytics icons, and data visualizations above open hands.

​​The Economic Implications of Making Tax Digital (MTD) in the UK

Published on March 03, 2025

Laptop With text in orange that says "Join us online" on a white background.
Behavioural economics Business economics Competitive markets

Loss Leaders and Customer Acquisition Cost (CAC): Price Discrimination in the Market for Free Resume Templates

Published on March 03, 2025

Glowing digital signage at night
Business economics Behavioural economics

Creative Destruction and the Rise of Physical-Digital Advertising: How Innovation is Shifting Back to the Real World

Published on March 01, 2025

Silhouette of a drilling rig against a vibrant orange sunset, with calm waters and distant boats.

Why Crude Prices Are Rising

Published on February 27, 2025

Forex currency trading on phone and laptop
Behavioural economics Business economics Competitive markets

Transaction Timing and Option Value: Real Options Theory in the Age of the EUR/USD Live Chart

Published on February 27, 2025

Flowers in the back of a pickup truck on a busy street.
Behavioural economics Business economics Competitive markets

Two-Sided Platforms and Rent Capture: Platform Economics in Digital Flower Delivery

Published on February 26, 2025

Email icons on a blurry black digital background
Behavioural economics Competitive markets

Bundling Theory and Complementarity: Why Hosting and Email Are Sold Together

Published on February 25, 2025

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AI can work much faster than human employees, but rates of AI hallucinations and other errors remain significant.

The Economics of AI Hallucinations and Error Costs

AI can be great, but "AI hallucinations" are frequent when AI software attempts to plug in data holes with information that it creates. This can include "ghost citations" of false sources of information. What will firms do to limit the dangers of AI error?...
4 min read

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Thanks to APIs, many programmers can create add-ons and extensions to existing software.
API Economies and the Modularization of Production
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