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Today, thanks to Application Programming Interfaces (APIs), diverse software can communicate with each other.

API Economies and the Modularization of Production

The dozens of apps on your phone can communicate with each other thanks to Application Programming Interfaces (APIs), which revolutionized software beginning in the year 2000. What are the economic ramifications of modularized production, where add-ons and expansions abound?...
4 min read
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Definitions Business economics

Average Variable Costs in Economics

Published on August 02, 2024

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Definitions Business economics

Historical Cost Principle

Published on August 02, 2024

Gold mining machinery at night in a desert setting with base camp light bright in the background.
Competitive markets Business economics Definitions

Path Dependence and Lock-In: How SAP Shapes the Economics of Gold and Precious Metals Firms

Published on July 02, 2024

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Behavioural economics Business economics Crypto

The Innovator’s Dilemma: Why Legacy Firms Like VistaPrint Must Reinvent to Survive

Published on June 28, 2024

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Behavioural economics Competitive markets Business economics

Spatial Economics and Hyper-Local SEO: Proximity as a Market Differentiator

Published on June 28, 2024

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Business economics Behavioural economics Competitive markets Definitions Information Failure Managing the economy

Excess Capacity and Market Fragmentation: Why So Many Trading Platforms Exist

Published on June 28, 2024

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Behavioural economics Business economics Competitive markets Factors of production Global economics

Platform Economics and Modularity: How Composable Tools Are Reshaping Enterprise Software

Published on June 28, 2024

Two screen and two keyboards with trading graphs.
Behavioural economics Business economics Definitions Forex Trading

Behavioral Economics and the Scalping Illusion: How Overconfidence Fuels the Market for Dubious Forex Trading Strategies

Published on June 25, 2024

Image of a computer screen displaying a program used for video editing.
Behavioural economics Business economics Competitive markets Factors of production Managing the economy Labour markets

Labor Market Polarization: AI and the Reshaping of the Video Editing Industry

Published on June 25, 2024

Variable Cost Definition
Definitions Business economics

Variable Cost Definition

Published on June 23, 2024

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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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