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Although increasingly popular, AI still makes serious mistakes...which could cost companies big bucks in damages.

The Economics of AI Hallucinations and Error Costs

To save money on labor, many companies want to use AI to automate basic office functions, from customer service to research. However, AI is prone to making mistakes that are confidently presented as accurate facts. What are the economic implications of unchecked AI use by companies?...
5 min read
Understanding the Supply Shifters
Definitions Business economics Factors of production

Understanding the Supply Shifters

Published on May 17, 2023

An image showing a light bulb.
Competitive markets Definitions Factors of production Market Failure Market failures Information Failure Behavioural economics

Allocative Efficiency

Published on March 05, 2023

Joint Supply
Behavioural economics Definitions Factors of production Business economics

Joint Supply

Published on January 24, 2023

Constant Returns to Scale
Definitions Factors of production Business economics

Constant Returns to Scale

Published on January 16, 2023

Factors of Production: Definitions, Examples and Importance
Market failures Definitions Business economics Factors of production

Factors of Production: Definitions, Examples and Importance

Published on June 07, 2021

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

Subsidy

Published on January 29, 2020

Long Run Aggregate Supply
Definitions Business economics Factors of production Global economics

Long Run Aggregate Supply

Published on January 28, 2020

Division of Labour
Definitions Factors of production

Division of Labour

Published on January 28, 2020

Diseconomies of Scale
Business economics Factors of production Definitions Behavioural economics

Diseconomies of Scale

Published on January 17, 2020

Newer Posts
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AI logo and network powe

Beyond the Chips: Why Cables, Connectors and Power Networks Matter to AI Growth

Artificial intelligence is often presented as a race for faster processors and more capable software. Yet every large AI system also depends...
3 min read

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