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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
Black and white photo of a jail with a silhouette on the white wall.
Behavioural economics Business economics Competitive markets

The Economic Impact of Incarceration: A Human Capital Perspective

Published on April 16, 2025

Two developers working side by side with multiple screens and 1 ipad.
Behavioural economics Business economics Competitive markets

Skill-Biased Technological Change and the New Economics of Web Agencies

Published on April 11, 2025

Purple text that says "The Exchange"
Behavioural economics Business economics

Rational Expectations and Volatility in Foreign Exchange Markets

Published on April 02, 2025

Book with text on it.
Behavioural economics Business economics Competitive markets

Public Goods and the Economics of Cheap Content Replication

Published on March 30, 2025

Sticker that says "PAY ME" on a wall outside
Behavioural economics Competitive markets Business economics

Transaction Costs and the Economics of Payroll Compliance Platforms

Published on March 26, 2025

PDF Flip book with palm tree shadow on it
Behavioural economics Business economics Competitive markets

Monopolistic Competition and Product Differentiation

Published on March 26, 2025

Professional photo studio with umbrellas
Behavioural economics Business economics

Creative Destruction and Technological Change: AI Photo Headshots and the Reinvention of Professional Photography

Published on March 26, 2025

1040 US Tax form plus iphone calculator on top of it and a pen.
Behavioural economics Business economics Competitive markets

Information Asymmetry and Credence Goods: The Economics of International Tax Advice

Published on March 22, 2025

Many streaming services offer access to an entire library rather than individual movies or TV show seasons.
Business economics

The Economics of Subscription Models: Why Businesses Prefer Recurring Revenue Over One-Time Sales

Published on March 17, 2025

Papework and pen on a white background, paperwork is from IRS.
Behavioural economics Business economics Competitive markets

Human Capital Theory and the Returns to Specialised Knowledge in Cross-Border Taxation

Published on March 16, 2025

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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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