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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
Professional taking notes at a desk with laptop representing human capital investment and management training
Business economics

Who Pays for the Manager? Human Capital Theory and the Economics of Leadership Training

Published on June 09, 2025

Young office worker sitting with documents
Business economics

Reducing Transaction Costs Through Effective Document Management Systems

Published on June 06, 2025

Virtual card payment using phone
Market Failure Business economics

Transaction Cost Economics and The Demise of Wire Transfers

Published on June 06, 2025

Two people shaking hands in a business setting, symbolizing trust, agreement, and cooperation between parties.
Business economics Market Failure Behavioural economics

Information Economics and Signaling: Why Referral Marketing Works in Markets with Imperfect Information

Published on June 05, 2025

Used plastic bottles in a metal crate for recycling
Business economics Global economics Market Failure

The Market for Sustainable Goods: Pigouvian Taxation, Plastics and Waste

Published on June 03, 2025

Swiss flag over Lucerne lakefront skyline representing Switzerland's economy and financial sector
Business economics Managing the economy

Why Capital Moves to Switzerland

Published on June 03, 2025

Child sitting in front of a computer with headphones on, with a pen in hand, looking at a laptop, engaging in online learning.
Behavioural economics Business economics Competitive markets

Economies of Scale and the Growth of Online K–12 Learning Platforms

Published on May 31, 2025

Container shipping with Stevedoors
Behavioural economics Business economics Competitive markets

Demand Uncertainty and the Value of Flexible Storage Capacity

Published on May 29, 2025

Lock on top of a laptop with neon light swirls
Behavioural economics Business economics Competitive markets

Risk Management and the Economics of Dedicated Proxy Infrastructure

Published on May 25, 2025

Office furniture in a modern setting
Business economics Competitive markets

Office Furniture, Worker Productivity, and the Economics of Workplace Investment

Published on May 25, 2025

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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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API Economies and the Modularization of Production
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