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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
Long Run Aggregate Supply
Definitions Business economics Factors of production Global economics

Long Run Aggregate Supply

Published on January 28, 2020

Giffen Goods
Definitions Business economics Global economics

Giffen Goods

Published on January 28, 2020

Transfer pricing
Business economics

Transfer pricing

Published on January 27, 2020

Energy price cap
Business economics

Energy price cap

Published on January 20, 2020

Business economics

Energy supply

Published on January 20, 2020

The music industry
Business economics

The music industry

Published on January 20, 2020

Price fixing
Business economics

Price fixing

Published on January 20, 2020

Brewing industry
Business economics

Brewing industry

Published on January 20, 2020

Business economics

Brewing merger

Published on January 20, 2020

Cinema case
Business economics

Cinema case

Published on January 20, 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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