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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
Normal profits
Definitions

Normal profits

Published on January 29, 2020

Normal goods
Definitions

Normal goods

Published on January 29, 2020

Nominal wages
Definitions

Nominal wages

Published on January 29, 2020

Net welfare loss
Definitions

Net welfare loss

Published on January 29, 2020

Net welfare gain
Definitions

Net welfare gain

Published on January 29, 2020

National minimum wage
Definitions

National minimum wage

Published on January 29, 2020

Nash equilibrium
Definitions

Nash equilibrium

Published on January 29, 2020

NAIRU
Definitions

NAIRU

Published on January 29, 2020

The multiplier effect
Definitions Right Rail

The multiplier effect

Published on January 28, 2020

Movements and shifts in demand and supply curves
Definitions

Movements and shifts in demand and supply curves

Published on January 28, 2020

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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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