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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
The Fisher Effect
Definitions

The Fisher Effect

Published on November 02, 2022

The Principal-Agent Problem
Definitions

The Principal-Agent Problem

Published on October 31, 2022

Socialism Vs. Communism
Definitions Managing the economy

Socialism Vs. Communism

Published on September 19, 2022

Economics of Outsourcing: Offshore Development Centers
Definitions Business economics

Economics of Outsourcing: Offshore Development Centers

Published on June 23, 2022

Solow Growth Model
Definitions Business economics

Explaining the Solow Model of Economic Growth

Published on May 18, 2022

What Is Demand-Pull Inflation?
Definitions

What Is Demand-Pull Inflation?

Published on May 05, 2022

The Marginal Utility Theory
Definitions

The Marginal Utility Theory

Published on April 21, 2022

Capitalism Vs. Socialism
Definitions

Capitalism Vs. Socialism

Published on March 31, 2022

How Rational Choice Theory Affect Marketing Budgets
Behavioural economics Definitions

How Rational Choice Theory Affect Marketing Budgets

Published on February 22, 2022

What Is Inelastic Demand?
Definitions

What Is Inelastic Demand?

Published on December 18, 2021

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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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