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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
Volkswagen symbol on black background
Business economics

Case Study: VIN Decoders Empowering Consumers and Transforming the Digital Economy

Published on December 21, 2023

A yellow iphone with the word "eSim" on it, as well as a hat, map and 35mm photo camera
Business economics Competitive markets

How eSIMs are Driving the Growth of the Digital Economy and Reducing Reliance on Brick-and-Mortar Infrastructure

Published on December 21, 2023

A hand holding an older model iphone taking a picture of several tall residential buildings of 40 stories or higher.
Managing the economy Market failures Business economics

eSIMs and the Green Digital Economy: Supporting IoT and Carbon Emission Reductions

Published on December 21, 2023

Image of a roll royce logo
Definitions Business economics

Veblen Goods Explained

Published on December 12, 2023

The Millennials' Economic Ascent: Redefining Consumer Preferences and Shaping E-Commerce Growth
Business economics

The Millennials' Economic Ascent: Redefining Consumer Preferences and Shaping E-Commerce Growth

Published on December 10, 2023

The AI-Driven Service Economy: Balancing Cost, Speed, and Quality in a Post-COVID Freelance World
Business economics

The AI-Driven Service Economy: Balancing Cost, Speed, and Quality in a Post-COVID Freelance World

Published on December 10, 2023

The Electric Revolution: How EV Adoption is Driving Growth in Charging Infrastructure as a Proxy Industry
Business economics

The Electric Revolution: How EV Adoption is Driving Growth in Charging Infrastructure as a Proxy Industry

Published on December 10, 2023

Payment Processors: The Understated Force Enabling Our Cashless Economy
Business economics

Payment Processors: The Understated Force Enabling Our Cashless Economy

Published on December 01, 2023

The Rise of Boutique Services: A Growing Sector Reflecting Wealth Inequality
Business economics

The Rise of Boutique Services: A Growing Sector Reflecting Wealth Inequality

Published on November 25, 2023

Private Equity Continues to Favor SaaS Bundle Businesses
Business economics

Private Equity Continues to Favor SaaS Bundle Businesses

Published on November 11, 2023

Newer Posts
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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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