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Today, firms use massive sets of data just as they would any other factor of production.

Data as Capital: Rethinking the Factors of Production

In the past quarter-century, digital data has become a new factor of production, allowing firms to create new products, communicate with suppliers and retailers, and advertise to customers. How does data affect firms' value, and how will it affect macro-level economic growth?...
4 min read
Definition of wage elasticity
Definitions

Definition of wage elasticity

Published on January 29, 2020

Definitions

Tobin_tax

Published on January 29, 2020

Tariff
Definitions

Tariff

Published on January 29, 2020

The long tail
Definitions

The long tail

Published on January 29, 2020

Supply side policy
Definitions

Supply side policy

Published on January 29, 2020

Supply shock
Definitions

Supply shock

Published on January 29, 2020

Supply
Definitions

Supply

Published on January 29, 2020

Substitution Effect
Definitions

Substitution Effect

Published on January 29, 2020

Subsidy
Definitions Behavioural economics Business economics Competitive markets Factors of production Information Failure

Subsidy

Published on January 29, 2020

Specific taxes
Definitions

Specific taxes

Published on January 29, 2020

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If AI software scans you and decides you want the product more than average, should it be able to charge you more money?

AI Price Discrimination and the End of the “Uniform Price”

Sellers have long wished to be able to charge higher prices to customers who are willing and able to pay more. Now, with AI software, sellers may finally have the ability to quickly and accurately analyze customers' willingness to pay. Is this ethical?...
4 min read

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