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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 person playing Playstation.
Definitions Competitive markets

Atomistic Competition

Published on October 21, 2024

Aerial view of a warehouse with tall, organized shelves filled with various cardboard boxes and packages, creating a busy storage environment.

From Overstock to Out of Stock: The Inventory Balancing Act Every Shop Must Master

Published on October 19, 2024

A hand selecting a bright pink miniature house from a row of black and pink model houses.
Definitions Information Failure Market Failure

Adverse Selection in Insurance

Published on October 18, 2024

A collection of various cryptocurrency coins, including Bitcoin.
Crypto Definitions

Trading Automation Penetrates the Cryptocurrency Sector

Published on October 18, 2024

A person playing a game in a handy device.
Definitions Behavioural economics

The Economics of Microtransactions

Published on October 18, 2024

Workers at their desk
Behavioural economics Definitions Business economics Factors of production

Frictional Unemployment

Published on October 17, 2024

A laptop on a glass table displaying financial charts and data dashboards, including bar graphs, line charts, and key performance metrics.

The Growing Importance of Accounting Skills in Economic Analysis

Published on October 17, 2024

Close-up view of a digital stock market chart showing fluctuating lines and numerical values on a screen, representing financial data and market trends.

The Investor's Guide to Vetting Alternative Assets

Published on October 17, 2024

Crypto Exchanges & Competitive Markets: How Fee Structures Influence Market Power

Crypto Exchanges & Competitive Markets: How Fee Structures Influence Market Power

Published on October 16, 2024

A dilapidated three wheel passenger motorcycle in, presumably, Nigeria.
Managing the economy

The Economic Paradox of Nigeria: Oil Wealth and Underdevelopment

Published on October 14, 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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