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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
Image of smartphone with some applications.
Behavioural economics Business economics

Marginal Cost and Marginal Benefit in Digital Advertising: How Ad Format Choices Reflect Core Economic Principles

Published on March 31, 2024

US Government Lifts Tornado Cash Sanctions

US Government Lifts Tornado Cash Sanctions

Published on March 29, 2024

Cityscape at dusk with a blurry focus.
Behavioural economics

Creative Destruction in Action: How Adobe’s DIY Tools Reflect Schumpeter’s Economic Principle

Published on March 29, 2024

Ex-Ante Meaning
Definitions Business economics

Ex-Ante Meaning

Published on March 28, 2024

Nvidia’s Market Cap Drops Following Massive Stock Sell-Off

Nvidia’s Market Cap Drops Following Massive Stock Sell-Off

Published on March 28, 2024

Consumer Durables
Definitions Business economics

Consumer Durables

Published on March 27, 2024

Complements Economics
Definitions Competitive markets

Complements Economics

Published on March 27, 2024

Supermarket shelves, colorful packages.
Behavioural economics

Economic Efficiency and Inventory Turnover: How Grocery Stores Use Just-in-Time (JIT) Systems to Reduce Costs and Waste

Published on March 27, 2024

Smartphone with BTC chart on a black textured background.
Behavioural economics Business economics

Liquidity Preference Theory and the High Cost of Instant Bitcoin Purchases

Published on March 25, 2024

The Rise of Emerging Markets as Key Players in Online Investment.

The Rise of Emerging Markets as Key Players in Online Investment.

Published on March 25, 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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