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Could sophisticated AI software quickly determine the maximum you would pay for any item, and charge you accordingly?

Surge Pricing in the Age of AI: Fairness or Exploitation?

Some people fear that one of the many changes coming with AI is rampant price discrimination, where algorithms analyze each consumer and charge him or her the maximum price that he or she would be willing to pay. What could happen to society?...
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

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

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

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Definitions Behavioural economics Information Failure Market Failure Competitive markets

Asymmetric Information

Published on December 26, 2022

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Older Posts
A sign signaling the pick-up location for ride share drivers, who are a major component of the gig economy.

The Gig Worker’s Dilemma: Flexibility vs. Stability

Many people find the idea of working whatever hours they choose to be appealing. Essentially, they get to be their own boss! However, unwary workers may quickly discover some disadvantages of being part of the gig economy. Why might they struggle?...
5 min read

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