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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

Thirty years ago, you had to buy entirely new software when your current program became obsolete. Today, you can download an extension, patch, or upgrade. Thanks to APIs, application programming interfaces, these "modular" additions to software can come from virtually anywhere....
4 min read
Questions on economies and diseconomies of scale
Questions

Questions on economies and diseconomies of scale

Published on January 29, 2020

Questions on price discrimination
Questions

Questions on price discrimination

Published on January 29, 2020

Questions on monopoly
Questions

Questions on monopoly

Published on January 29, 2020

Questions on game theory
Questions

Questions on game theory

Published on January 29, 2020

Oligopoly - Questions & Answers
Questions

Oligopoly - Questions & Answers

Published on January 29, 2020

Questions on monopolistic competition
Questions

Questions on monopolistic competition

Published on January 29, 2020

Questions on perfect competition
Questions

Questions on perfect competition

Published on January 29, 2020

Profits
Questions

Profits

Published on January 29, 2020

Questions on revenue
Questions

Questions on revenue

Published on January 29, 2020

Questions on costs
Questions

Questions on costs

Published on January 29, 2020

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Although increasingly popular, AI still makes serious mistakes...which could cost companies big bucks in damages.

The Economics of AI Hallucinations and Error Costs

To save money on labor, many companies want to use AI to automate basic office functions, from customer service to research. However, AI is prone to making mistakes that are confidently presented as accurate facts. What are the economic implications of unchecked AI use by companies?...
5 min read

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