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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
5 Top Challenges Facing the Finance Industry in 2023
Business economics Competitive markets

5 Top Challenges Facing the Finance Industry in 2023

Published on February 28, 2022

Complementary Goods Defined
Definitions Business economics

Complementary Goods Defined

Published on September 24, 2021

The Lorenz Curve
Definitions Managing the economy Behavioural economics Business economics

The Lorenz Curve

Published on September 24, 2021

Stagflation Simplified
Business economics Managing the economy

Stagflation Simplified

Published on August 26, 2021

What Is Laissez-Faire Economic Theory?
Competitive markets Business economics Definitions Managing the economy

What Is Laissez-Faire Economic Theory?

Published on June 30, 2021

What Is Adverse Selection?
Competitive markets Business economics Definitions

What Is Adverse Selection?

Published on June 08, 2021

Factors of Production: Definitions, Examples and Importance
Market failures Definitions Business economics Factors of production

Factors of Production: Definitions, Examples and Importance

Published on June 07, 2021

The Impact of UK Home Improvement Businesses on the Real Estate Industry
Business economics

The Impact of UK Home Improvement Businesses on the Real Estate Industry

Published on April 19, 2021

Is Inflation Coming, And Which Businesses Are Immune To It
Business economics

Is Inflation Coming, And Which Businesses Are Immune To It

Published on December 18, 2020

Explaining The K-Shaped Economic Recovery from Covid-19
Uncategorized Business economics Managing the economy Market failures

Explaining The K-Shaped Economic Recovery from Covid-19

Published on November 03, 2020

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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