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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
What is a NEET?
Definitions Labour markets

What is a NEET?

Published on December 13, 2023

Image of a roll royce logo
Definitions Business economics

Veblen Goods Explained

Published on December 12, 2023

Dutch Disease
Definitions Managing the economy

Dutch Disease

Published on December 01, 2023

Understanding the J Curve with Graphs
Definitions Managing the economy

Understanding the J Curve with Graphs

Published on December 01, 2023

Trilemma: A Comprehensive Guide
Definitions Managing the economy

Trilemma: A Comprehensive Guide

Published on November 22, 2023

What is the Rust Belt?
Definitions Global economics

What is the Rust Belt?

Published on November 21, 2023

How to Stop Inflation?
Definitions Managing the economy

How to Stop Inflation?

Published on November 09, 2023

Normative Economics and its Applications
Definitions Behavioural economics Managing the economy

Normative Economics and its Applications

Published on November 03, 2023

Mid Luxury Sector Grows Amidst Economic Recession
Definitions Global economics

Mid Luxury Sector Grows Amidst Economic Recession

Published on October 25, 2023

An image of notes and coins.
Definitions Managing the economy

Ample Reserves vs. Limited Reserves

Published on October 19, 2023

Newer Posts
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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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