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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 hand placing a red puzzle piece into a puzzle of a ll white pieces
Market Failure Information Failure

Principal–Agent Theory and Affiliate Fraud: Why Performance-Based Marketing Creates Opportunities for Strategic Misreporting

Published on June 07, 2025

Professional reviewing data on laptop outside a server room representing cloud computing and digital infrastructure
Innovation & Technology

Residential Proxies in 2026: How Information Failure and Barriers to Entry Shape the Market

Published on June 07, 2025

Innovation in the Driver's Seat: The Economics of Modern Automotive Technology
Innovation & Technology

Innovation in the Driver's Seat: The Economics of Modern Automotive Technology

Published on June 07, 2025

Virtual card payment using phone
Market Failure Business economics

Transaction Cost Economics and The Demise of Wire Transfers

Published on June 06, 2025

Young office worker sitting with documents
Business economics

Reducing Transaction Costs Through Effective Document Management Systems

Published on June 06, 2025

Two people shaking hands in a business setting, symbolizing trust, agreement, and cooperation between parties.
Business economics Market Failure Behavioural economics

Information Economics and Signaling: Why Referral Marketing Works in Markets with Imperfect Information

Published on June 05, 2025

A heap of receipts and other accounting papers.

Transaction Costs and the Hidden Economic Cost of Inefficient Accounting Workflows

Published on June 04, 2025

Analytics dashboard displaying performance metrics, conversion rates, and quality scores with line graphs and data visualizations on a computer screen.

Cost-Benefit Analysis and the Economics of Monitoring Systems in Public Spaces

Published on June 04, 2025

Used plastic bottles in a metal crate for recycling
Business economics Global economics Market Failure

The Market for Sustainable Goods: Pigouvian Taxation, Plastics and Waste

Published on June 03, 2025

Swiss flag over Lucerne lakefront skyline representing Switzerland's economy and financial sector
Business economics Managing the economy

Why Capital Moves to Switzerland

Published on June 03, 2025

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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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