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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
Employee in a headset sitting at a call center desk.
Business economics

Comparative Advantage and Offshore Development Services: How Global Talent Drives Efficiency

Published on February 28, 2024

Leverage Ratios Explained
Definitions Business economics

Leverage Ratios Explained

Published on February 18, 2024

Smart phone with social media icons on the screen, laying on a piece of fabric.
Managing the economy Business economics Behavioural economics

Incentives and the Attention Economy: A Study in Supply and Demand

Published on February 10, 2024

People standing in front of a floor to ceiling window with a city in the background.
Business economics Behavioural economics

Economies of Scale and the Rise of B2B Subscription Services: Why Selling to Businesses is a Profitable Growth Strategy

Published on February 03, 2024

A 3d graphic of various social media and tech companies' logos
Business economics Managing the economy Competitive markets

Social Media Views as a Liquid Store of Value: Analyzing the Role of Network Effects

Published on January 20, 2024

Implicit vs. Explicit Costs
Definitions Business economics

Implicit vs. Explicit Costs

Published on January 14, 2024

Person typing on macbook with a screen in the background.
Business economics

The Rise of AI in Personal Assistance: A Study in Comparative Advantage

Published on January 13, 2024

Image of a man holding a phone with the robin hood app open
Business economics Competitive markets

Diminishing Marginal Returns: Case Study of Client Acquisition by Retail Trading Platforms

Published on January 03, 2024

Midpoint Method in Economics
Definitions Business economics

Midpoint Method in Economics

Published on December 30, 2023

Volkswagen symbol on black background
Business economics

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

Published on December 21, 2023

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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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