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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
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Behavioural economics Business economics Competitive markets

Information Asymmetry and the Demand for Cross-Border Accounting Expertise

Published on November 15, 2024

Regulatory Arbitrage and the Geography of Online Credit
Business economics Behavioural economics Competitive markets

Regulatory Arbitrage and the Geography of Online Credit

Published on November 15, 2024

Image of four hands each holding dollar bills.
Definitions Business economics

Gross Wages vs. Net Wages

Published on November 14, 2024

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Business economics Managing the economy Labour markets Behavioural economics Global economics

The Impact of Small, Highly Efficient, and Cheap Nuclear Reactors on Developed Economies: A Focus on Energy Costs and Transportation

Published on November 11, 2024

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Behavioural economics Business economics Competitive markets Managing the economy Information Failure

Anonymity, Information Asymmetry, and State Capacity

Published on October 31, 2024

An image of different US dollar bills and coins.
Definitions Business economics

Real vs. Nominal in Economics

Published on October 25, 2024

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Business economics Definitions

Penetration Pricing

Published on October 24, 2024

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Behavioural economics Definitions Business economics Factors of production

Frictional Unemployment

Published on October 17, 2024

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Business economics Competitive markets

The Unbundling of the Firm: A-la-Carte B2B and the Boundaries of Production

Published on October 13, 2024

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Business economics Labour markets Market Failure

Exponentially Rising Tuition Costs Suppress Economic Growth in the U.S.

Published on October 05, 2024

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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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Thanks to APIs, many programmers can create add-ons and extensions to existing software.
API Economies and the Modularization of Production
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