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Digital twins and AI modeling can help companies determine exactly when maintenance should be done to maximize efficiency.

The Economics of Digital Twins and Predictive Maintenance

Large companies may be spending billions of dollars a year in inefficient maintenance on their capital goods, either doing too much maintenance and wasting money or not enough maintenance and dealing with equipment failure. Can digital twins and AI end this inefficiency?...
4 min read
Image showing seasaw which is not in balance.
Definitions Behavioural economics Information Failure Market Failure Competitive markets

Asymmetric Information

Published on December 26, 2022

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

Subsidy

Published on January 29, 2020

Pigouvian Tax
Definitions Behavioural economics Business economics Competitive markets Global economics Information Failure

Pigouvian Tax

Published on January 29, 2020

Moral Hazard
Definitions Information Failure Behavioural economics

Moral Hazard

Published on January 28, 2020

Newer Posts
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As AI makes fake news harder to distinguish from factual information, will consumers begin paying for verified sources?

The Economics of Deepfake Detection: Trust, Verification, and Information Markets

As AI makes fake news and misinformation harder and harder to detect, will consumers and producers begin paying for verification and certification of authenticity? Should governments get involved to re-establish trust in information to soothe roiling markets?...
4 min read

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Thanks to the ease of remote work with today's technology, do cities still enjoy an agglomeration advantage?
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