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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
Definitions

Carbon_tax

Published on January 28, 2020

Definitions

Carbon_offsetting

Published on January 28, 2020

Questions on globalisation
Questions

Questions on globalisation

Published on January 28, 2020

What are buffer stocks?
Definitions

What are buffer stocks?

Published on January 28, 2020

Definitions

Barriers_to_entry

Published on January 28, 2020

Balance of payments - definition
Definitions

Balance of payments - definition

Published on January 28, 2020

Definition of asymmetric shocks
Definitions

Definition of asymmetric shocks

Published on January 28, 2020

Asymmetric information - definition
Definitions

Asymmetric information - definition

Published on January 28, 2020

Definition of aggregate supply
Definitions

Definition of aggregate supply

Published on January 28, 2020

Definitions

Aggregate_demand

Published on January 28, 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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