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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
Indirect Tax
Definitions Managing the economy

Indirect Tax

Published on February 04, 2024

Regulatory Capture
Definitions Managing the economy

Regulatory Capture

Published on February 01, 2024

Capital Account of the Balance of Payments
Definitions Managing the economy

Capital Account of the Balance of Payments

Published on January 24, 2024

Autarkic: A Comprehensive Guide
Definitions Global economics Managing the economy

Autarkic: A Comprehensive Guide

Published on January 16, 2024

Implicit vs. Explicit Costs
Definitions Business economics

Implicit vs. Explicit Costs

Published on January 14, 2024

Quaternary Sector
Definitions Global economics

Quaternary Sector

Published on January 09, 2024

Cartelism Meaning
Definitions Market Failure

Cartelism Meaning

Published on January 02, 2024

Midpoint Method in Economics
Definitions Business economics

Midpoint Method in Economics

Published on December 30, 2023

Positive vs. Normative Economics: A Comprehensive Guide
Definitions Managing the economy

Positive vs. Normative Economics: A Comprehensive Guide

Published on December 21, 2023

Choice Architecture
Definitions Behavioural economics

Choice Architecture

Published on December 14, 2023

Newer Posts
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Older Posts
As streaming subscription costs continue to rise, many customers are experiencing "subscription fatigue" and logging off.

Subscription Fatigue and Consumer Optimization in Digital Markets

Streaming entertainment services seemed like a great deal a decade ago. Now, rising costs have reduced consumers' utility significantly. How can streaming firms fight subscription fatigue and keep longtime customers from canceling due to price hikes?...
4 min read

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