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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
A blurred stock market display shows fluctuating prices in bright red and green digits, with traders visible in the background.

Apple Balances Record Profits with Pressure to Lead in AI

Published on December 11, 2024

Picture of a man's hand putting a piece of puzzle down.
Definitions Behavioural economics

Exploring the Paradox of Value

Published on December 08, 2024

Picture of monopoly houses on sheets of paper with graphs
Definitions Business economics

Proportional Tax

Published on December 06, 2024

Row of charming Victorian-style houses with large bay windows, a white van parked in front, and greenery in the foreground.

Property Market Proves Robust Despite Pre-Budget Slowdown

Published on December 05, 2024

AI Robot at an abstract desk with a blue laptop open.
Behavioural economics Business economics Competitive markets

Global Wage Arbitrage vs. Algorithmic Arbitrage: How AI Rewrites Comparative Advantage in the Homework Economy

Published on December 05, 2024

A composite image of Big Ben surrounded by digital elements and the text "AI", with the UK flag subtly in the background.

Economics AI: How Artificial Intelligence Is Transforming the UK Economy and Consumer Spending

Published on December 05, 2024

Orange toy bot sitting on the edge of a desk with post its behind it.
Behavioural economics Business economics Competitive markets

Long Tail of AI Services: When Every Micro-Niche Gets a Bot — An Application of Long-Tail Markets & Love-of-Variety Economics

Published on December 05, 2024

New plants sprout from stacks of coins against a world map and a fluctuating graph, symbolizing growth and investment.

Saving Strategies for Businesses Across Economic Borders

Published on December 05, 2024

Photo of hand holding a smartphone with text "eSIM" on a yellow background.
Behavioural economics Business economics Competitive markets

eSIM Platforms, Roaming, and the Erosion of National Telecom Rents: Market Integration & Platform Economics in Action

Published on December 04, 2024

Fence and sign with the word "Privat" written on it.
Definitions Business economics

Privatisation Definition

Published on December 03, 2024

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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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