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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
Command Economy
Managing the economy Definitions

Command Economy

Published on September 24, 2021

Defining Capital Goods
Definitions

Defining Capital Goods

Published on September 24, 2021

Reserve Ratio and Money Multiplier
Definitions

Reserve Ratio and Money Multiplier

Published on September 24, 2021

What Is Deadweight Loss?
Definitions

What Is Deadweight Loss?

Published on September 24, 2021

Complementary Goods Defined
Definitions Business economics

Complementary Goods Defined

Published on September 24, 2021

The Lorenz Curve
Definitions Managing the economy Behavioural economics Business economics

The Lorenz Curve

Published on September 24, 2021

What Is An Economic Stimulus Package?
Managing the economy Definitions

What Is An Economic Stimulus Package?

Published on August 26, 2021

What Is Keynesian Economic Theory?
Managing the economy Definitions Global economics

What Is Keynesian Economic Theory?

Published on August 26, 2021

What Does Ceteris Paribus Mean?
Definitions

What Does Ceteris Paribus Mean?

Published on August 26, 2021

What Is the Malthusian Theory of Population?
Managing the economy Behavioural economics Definitions

What Is the Malthusian Theory of Population?

Published on July 29, 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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