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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
Close up picture of a $100 bill with Benjamin Franklin's head prominent there.
Competitive markets Behavioural economics Business economics

Interest Rate Parity: The Economic Principle That Anchors Currency Values

Published on April 22, 2024

Picture of an old university with a green lawn
Behavioural economics Business economics Managing the economy

Path Dependence in Finance Education: Why Curriculum Change Lags Behind Market Innovation

Published on April 20, 2024

Blue, purple and green drawings on a piece of paper. Unclear what they are, looks like mock writing.
Behavioural economics Managing the economy Crypto Business economics

Applying the Efficient Frontier: How Diversification Enhances Crypto’s Role in Modern Portfolios

Published on April 19, 2024

University classroom with many hands raised.
Competitive markets Behavioural economics Business economics

Incentives Matter: How Academic Economists Respond to the Market of Ideas

Published on April 19, 2024

Image of an iphone in the dark with the screen lit up showing various app
Managing the economy Competitive markets Business economics

Global Talent and the Law of Comparative Advantage: Understanding Labor Arbitrage in App Development

Published on April 11, 2024

Labour Intensive
Definitions Business economics

Labour Intensive

Published on March 31, 2024

Image of smartphone with some applications.
Behavioural economics Business economics

Marginal Cost and Marginal Benefit in Digital Advertising: How Ad Format Choices Reflect Core Economic Principles

Published on March 31, 2024

Ex-Ante Meaning
Definitions Business economics

Ex-Ante Meaning

Published on March 28, 2024

Consumer Durables
Definitions Business economics

Consumer Durables

Published on March 27, 2024

Smartphone with BTC chart on a black textured background.
Behavioural economics Business economics

Liquidity Preference Theory and the High Cost of Instant Bitcoin Purchases

Published on March 25, 2024

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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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