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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
London judicial building in the background.
Behavioural economics Business economics Competitive markets

Asymmetric Information and Credence Goods: Why Choosing a Family Solicitor Is So Difficult

Published on February 10, 2025

A view of modern skyscrapers from below, showcasing glass facades and geometric designs against a cloudy sky.

What Makes RIAs So Difficult to Sell To

Published on February 08, 2025

White, green and red pixel lights showing VXX market price.
Behavioural economics Managing the economy

The Principle of Market Competition: Retail Investors Venturing into Complex Trading Sectors

Published on February 04, 2025

Smart phone with yellow background with the text "eSIM" on it.
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

Private jet on tarmac during sunset.
Behavioural economics Business economics Competitive markets

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

Published on January 27, 2025

White flowers on a dark blue background.
Business economics Competitive markets Behavioural economics

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

Published on January 25, 2025

Laptop open slightly with white screen and a half folded paper on the keyboard.
Business economics

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

Published on January 24, 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

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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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