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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
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Behavioural economics Business economics Competitive markets

Transaction Costs, Market Frictions, and Digital Disintermediation in Mobile Connectivity

Published on February 03, 2025

A striking black-and-white view of skyscrapers converging towards the sky, highlighting modern architecture and geometric designs.

The Annual Budget No Longer Works: How Businesses Survive in an Era of Volatility

Published on January 30, 2025

Abstract image showing skyscrapers with financial charts and graphs overlayed, symbolizing data analysis and market trends.

What Competitive Economics Can Teach Us About Ranking in Search

Published on January 29, 2025

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Behavioural economics Business economics Competitive markets

Fixed Costs, Minimum Efficient Scale, and Entry Barriers in Chartered Private Aviation

Published on January 27, 2025

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Business economics Competitive markets Behavioural economics

Network Economics and Demand Aggregation: How Online Flower Platforms Became Market Makers

Published on January 25, 2025

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Business economics

New Institutional Economics and the Substitution of Legal Infrastructure: How Global Hiring Platforms Reorganize Employment

Published on January 24, 2025

Cost–Benefit Analysis of Stadium Redevelopment

Cost–Benefit Analysis of Stadium Redevelopment

Published on January 23, 2025

Close-up of a computer motherboard featuring an Intel processor, various capacitors, ports, and intricate circuitry details.

Intel’s 14A Bet: Technology Breakthrough or Costly Gamble

Published on January 23, 2025

Abstract graphic featuring interconnected hexagons on a gradient background with glowing lines and a globe, symbolizing technology and connectivity.

Ethereum Co-Founder Vitalik Buterin Calls Attention to Decentralized Stablecoins

Published on January 23, 2025

A colorful assortment of various banknotes from different countries, including British pounds, Canadian dollars, and U.S. dollars.

The Economics of 2026: Outlook for Consumers

Published on January 22, 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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