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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
How is Behavioral Economics Different From Classical Economics?
Behavioural economics

How is Behavioral Economics Different From Classical Economics?

Published on July 06, 2020

Explaining The Stock Market Boom During A Pending Recession
Market failures Behavioural economics

Explaining The Stock Market Boom During A Pending Recession

Published on June 19, 2020

Subsidy
Definitions Behavioural economics Business economics Competitive markets Factors of production Information Failure

Subsidy

Published on January 29, 2020

Pigouvian Tax
Definitions Behavioural economics Business economics Competitive markets Global economics Information Failure

Pigouvian Tax

Published on January 29, 2020

Moral Hazard
Definitions Information Failure Behavioural economics

Moral Hazard

Published on January 28, 2020

Marginal Propensity to Consume
Definitions Behavioural economics Business economics Managing the economy

Marginal Propensity to Consume

Published on January 28, 2020

Income Effect
Definitions Behavioural economics

Income Effect

Published on January 28, 2020

Diseconomies of Scale
Business economics Factors of production Definitions Behavioural economics

Diseconomies of Scale

Published on January 17, 2020

Criticisms of Behavioral Economics
Behavioural economics

Criticisms of Behavioral Economics

Published on January 17, 2020

Paternalism and the Role of Government
Behavioural economics

Paternalism and the Role of Government

Published on January 17, 2020

Newer Posts
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AI logo and network powe

Beyond the Chips: Why Cables, Connectors and Power Networks Matter to AI Growth

Artificial intelligence is often presented as a race for faster processors and more capable software. Yet every large AI system also depends...
3 min read

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