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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 holding a mobile phone showing the calculator.

How Economic Trends Affect Our Future: Analysis and Forecasts

Published on August 28, 2024

Billion-Dollar Dilemma: Nvidia and AMD Face Costly Decisions in China Market

Billion-Dollar Dilemma: Nvidia and AMD Face Costly Decisions in China Market

Published on August 28, 2024

One Dataset, Many Insights: Maximizing Research Output in Economics

One Dataset, Many Insights: Maximizing Research Output in Economics

Published on August 27, 2024

Understanding Crypto Market Cycles Through An Economic Lens

Understanding Crypto Market Cycles Through An Economic Lens

Published on August 26, 2024

A phone showing the logo of PayPal.

Beyond PayPal: Macroeconomic Impacts of Digital Money Movement in 2024

Published on August 23, 2024

A calculator, a key, and miniature house models, including a highlighted red one, arranged on a dark surface.
Definitions Managing the economy

Core CPI vs CPI

Published on August 21, 2024

A photo of a man taking picture of a tarmac from a airline terminal.
Behavioural economics Business economics Competitive markets

Platforms, Complements, and Two-Sided Markets: How Airline Stopovers Fuel Urban Micro-Tourism

Published on August 20, 2024

Illustration of a house with money, a calculator, and a rising bar chart with a percentage symbol, representing Help to Buy loan repayment

Equity Loan Repayment under the UK Help to Buy Scheme: Economic Considerations

Published on August 19, 2024

Europe’s EV Market Booms — Without Tesla

Europe’s EV Market Booms — Without Tesla

Published on August 19, 2024

A man holding a pen, writing at a desk.
Behavioural economics

Sanford Schmidt and the Economics of Trust in an Automated Wealth Management Era

Published on August 17, 2024

Newer Posts
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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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