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AI can work much faster than human employees, but rates of AI hallucinations and other errors remain significant.

The Economics of AI Hallucinations and Error Costs

AI can be great, but "AI hallucinations" are frequent when AI software attempts to plug in data holes with information that it creates. This can include "ghost citations" of false sources of information. What will firms do to limit the dangers of AI error?...
4 min read
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Behavioural economics Business economics Competitive markets

Monopolistic Competition and Product Differentiation

Published on March 26, 2025

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Behavioural economics Business economics

Creative Destruction and Technological Change: AI Photo Headshots and the Reinvention of Professional Photography

Published on March 26, 2025

1040 US Tax form plus iphone calculator on top of it and a pen.
Behavioural economics Business economics Competitive markets

Information Asymmetry and Credence Goods: The Economics of International Tax Advice

Published on March 22, 2025

Papework and pen on a white background, paperwork is from IRS.
Behavioural economics Business economics Competitive markets

Human Capital Theory and the Returns to Specialised Knowledge in Cross-Border Taxation

Published on March 16, 2025

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Behavioural economics Business economics Competitive markets

The Benefit Principle of Taxation and the Economics of Fiscal Membership

Published on March 16, 2025

Man sitting at a laptop looking at the screen, leaning in, wearing glassees and looking chubby.
Behavioural economics Business economics Competitive markets

Dual Labour Market Theory and the Casualisation of Work in the Age of Micro-Jobs

Published on March 15, 2025

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Behavioural economics Business economics

Emotional Elasticity and Behavioral Economics: Pricing and Advertising in Divorce Legal Markets

Published on March 13, 2025

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Behavioural economics Business economics Competitive markets

Why Small Businesses Pay for Checklists: The Economics of Scarcity, Bounded Rationality, and the Shadow Price of Attention

Published on March 12, 2025

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Behavioural economics Business economics Competitive markets

Labor Market Segmentation and Internal Labor Markets: Dual Labor Market Theory in Government-Aligned University Programs

Published on March 07, 2025

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Behavioural economics Business economics Competitive markets

Access to Justice and Credit Constraints: Credit Rationing in Personal Injury Litigation

Published on March 05, 2025

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As streaming subscription costs continue to rise, many customers are experiencing "subscription fatigue" and logging off.

Subscription Fatigue and Consumer Optimization in Digital Markets

Streaming entertainment services seemed like a great deal a decade ago. Now, rising costs have reduced consumers' utility significantly. How can streaming firms fight subscription fatigue and keep longtime customers from canceling due to price hikes?...
4 min read

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