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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
Gold mining machinery at night in a desert setting with base camp light bright in the background.
Competitive markets Business economics Definitions

Path Dependence and Lock-In: How SAP Shapes the Economics of Gold and Precious Metals Firms

Published on July 02, 2024

Irrational Exuberance Meaning
Definitions Behavioural economics

Irrational Exuberance Meaning

Published on June 30, 2024

Beautiful office building with cement embankments curbing a river.
Business economics Behavioural economics Competitive markets Definitions Information Failure Managing the economy

Excess Capacity and Market Fragmentation: Why So Many Trading Platforms Exist

Published on June 28, 2024

Two screen and two keyboards with trading graphs.
Behavioural economics Business economics Definitions Forex Trading

Behavioral Economics and the Scalping Illusion: How Overconfidence Fuels the Market for Dubious Forex Trading Strategies

Published on June 25, 2024

Variable Cost Definition
Definitions Business economics

Variable Cost Definition

Published on June 23, 2024

Trade-Off in Economics
Definitions Business economics

Trade-Off in Economics

Published on June 23, 2024

Economies of Scope
Definitions Business economics

Economies of Scope

Published on June 19, 2024

Understanding Trade Embargo
Definitions Global economics

Understanding Trade Embargo

Published on June 19, 2024

Types of Takeovers in Economics
Definitions Competitive markets

Types of Takeovers in Economics

Published on June 18, 2024

Diminishing Marginal Benefit
Definitions Business economics

Diminishing Marginal Benefit

Published on June 16, 2024

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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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