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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
Case Study: Aspects of Microsoft's Network Effect Breaking Down
Business economics

Case Study: Aspects of Microsoft's Network Effect Breaking Down

Published on October 06, 2023

The Commodification of Personhood: Consumers' Increasing Value to Online Advertisers
Business economics

The Commodification of Personhood: Consumers' Increasing Value to Online Advertisers

Published on October 06, 2023

Agglomeration Economies
Definitions Business economics Global economics

Agglomeration Economies

Published on September 11, 2023

Total Revenue Formula
Definitions Business economics

Total Revenue Formula

Published on August 14, 2023

Business Cycle Graph
Definitions Managing the economy Business economics Global economics

Business Cycle Graph

Published on August 06, 2023

Horizontal Integration
Definitions Business economics

Horizontal Integration

Published on July 05, 2023

Pros and Cons of Capitalism
Definitions Managing the economy Business economics

Pros and Cons of Capitalism

Published on July 03, 2023

Supply and Demand Curves Explained
Competitive markets Definitions Business economics

Supply and Demand Curves Explained

Published on June 16, 2023

Vertical Integration
Definitions Business economics

Vertical Integration

Published on June 13, 2023

Mixed Economy
Definitions Business economics Managing the economy

Mixed Economy

Published on May 22, 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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