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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
Moral Hazard
Definitions Information Failure Behavioural economics

Moral Hazard

Published on January 28, 2020

Monopoly
Definitions

Monopoly

Published on January 28, 2020

Monetary policy committee
Definitions

Monetary policy committee

Published on January 28, 2020

Monetary policy
Definitions

Monetary policy

Published on January 28, 2020

Definition of Minimum Price
Definitions

Definition of Minimum Price

Published on January 28, 2020

Merit good
Definitions

Merit good

Published on January 28, 2020

Maximum price
Definitions

Maximum price

Published on January 28, 2020

Maximax and maximin
Definitions

Maximax and maximin

Published on January 28, 2020

Market failure
Definitions

Market failure

Published on January 28, 2020

Market
Definitions

Market

Published on January 28, 2020

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Page 31 of 39
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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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