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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
An image of a metal bank vault focused on the bolt-throwing hand wheel
Market Failure Competitive markets Managing the economy Business economics

The Supply and Demand of Deposits: Why San Diego CD Rates Differ from the National Average

Published on June 11, 2025

Lock-in Cost
switching costs microeconomics

The Unseen Drivers of Legacy Software Loyalty and Purchase Choices

Published on June 11, 2025

Human capital in motion
Human Capital Forced Migration

Forced Migration – The Human Capital Mobility and Brain Drain–Brain Gain Paradox

Published on June 11, 2025

Aerial view of Earth from space showing the interconnection of lights between cities
Business economics Competitive markets Innovation & Technology

Comparative Advantage in the Digital Coordination Economy: How Specialisation Evolves as Transaction Costs Fall

Published on June 10, 2025

Graphic of a glowing human brain on top of a black computer chip connected to other parts
Competitive markets Information Failure Innovation & Technology

Comparative Advantage and Content Specialisation in the Age of Generative Search

Published on June 10, 2025

Virtual dataroom
Market Failure Price discrimination

Virtual Data Rooms as market institutions

Published on June 09, 2025

Warehouse storage
Market Failure operational-efficiency

Economic Effects of AI-Based Surveillance Technology in Warehousing Industry

Published on June 09, 2025

Landscape showing a hilly region with three wind turbines in the foreground
Information Failure Market Failure

Principal-Agent Theory and the Rise of ESG Reporting: Incentives, Institutions, and Regulation

Published on June 08, 2025

University lecture hall with students
Human Capital

The Value of an MBA: A Comparison of Human Capital vs. Signalling

Published on June 08, 2025

Retirement Savings
small business Labour markets

Incentive Mechanism: Retirement Savings in the Small Business Labour Market

Published on June 08, 2025

Newer Posts
Page 8 of 182
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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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