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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
Abstract AI brain represented in polycules.
Behavioural economics Business economics Competitive markets

Transaction Cost Economics and Institutional Lag: Why AI “Humanizer” Tools Thrive in Rapid Innovation Markets

Published on January 16, 2025

Two people working on a laptop, one hand pointing at the screen.
Business economics Behavioural economics Competitive markets

Bundling Theory and Complementarity: How Value Is Created Beyond the Core Product

Published on January 15, 2025

Photograph of African mine
Competitive markets Managing the economy Factors of production

The Resource Curse and Institutional Failure: Economic Rent-Seeking and Development Challenges in Africa

Published on January 12, 2025

Production Possibility Curve (PPC)
Definitions Managing the economy

Production Possibility Curve (PPC)

Published on January 10, 2025

A photograph of a port with cargo containers.
Managing the economy

Consumer Surplus and the Economics of Parallel Importation

Published on January 10, 2025

A city skyline at night overlaid with a large Bitcoin symbol and digital icons representing blockchain technology and logistics.

Investments: The Global Shift to Cryptocurrencies

Published on January 09, 2025

City skyline illuminated at night overlaid with digital graphs and binary code, representing finance and technology.

What Is Proprietary Trading and How Does It Work?

Published on January 09, 2025

A person stands in a grocery store holding a smartphone and a blue shopping basket, surrounded by colorful produce displays.

The Economics of Product Safety in Consumer Markets

Published on January 09, 2025

A colorful stock market chart displays candlestick patterns, volume bars, and moving averages over a timeline from March to June.

Nvidia and Google’s Competing Paths in AI Compute

Published on January 09, 2025

A glowing blue sphere labeled "AI" connected by digital lines, symbolizing artificial intelligence and network connections.

Business Cases for AI: How Firms Should Prioritize AI Projects

Published on January 08, 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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