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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
Enhancing Tax Fraud Detection: An AI-Driven Framework for Operational Implementation
Information Failure Managing the economy

Enhancing Tax Fraud Detection: An AI-Driven Framework for Operational Implementation

Published on December 15, 2024

Illuminated supertree structures at Gardens by the Bay with Marina Bay Sands at night.
Managing the economy Information Failure

The Economic Challenges and Realities of Building Large-Scale Cities from Scratch

Published on November 07, 2024

Cell towers in twilight.
Behavioural economics Business economics Competitive markets Managing the economy Information Failure

Anonymity, Information Asymmetry, and State Capacity

Published on October 31, 2024

A hand selecting a bright pink miniature house from a row of black and pink model houses.
Definitions Information Failure Market Failure

Adverse Selection in Insurance

Published on October 18, 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

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Forex Trading Global economics Information Failure

Market Microstructure Theory: How Intraday Data Powers Modern Price Discovery and Arbitrage

Published on April 23, 2024

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Behavioural economics Information Failure Market Failure

The NFT Resurgence and the Minsky Speculative Bubble Cycle

Published on March 21, 2024

Phone lines in a desolate field, all gray.
Business economics Information Failure

The Principle of Path Dependence: How Legacy Technology Like 1300 Numbers Continues to Drive Economic Advantage

Published on March 10, 2024

A neon sign that reads "PSYCHIC"
Behavioural economics Competitive markets Business economics Information Failure

The Economics of Credence Goods: How Unverifiable Services Thrive in Modern Markets

Published on March 10, 2024

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Competitive markets Definitions Factors of production Market Failure Market failures Information Failure Behavioural economics

Allocative Efficiency

Published on March 05, 2023

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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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