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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
Person working on multiple screens, engaged in coding.
Labour markets

The Principle of Comparative Advantage: Navigating the Shift to an A-La-Carte Workforce

Published on March 04, 2024

What is a NEET?
Definitions Labour markets

What is a NEET?

Published on December 13, 2023

An image of a steel mill.
Definitions Labour markets Competitive markets

Factor Market: A Comprehensive Guide

Published on October 13, 2023

Labour Arbitrage
Definitions Labour markets Global economics

Labour Arbitrage

Published on September 27, 2023

Binding Price Floor
Definitions Managing the economy Labour markets

Binding Price Floor

Published on July 31, 2023

Efficiency Wage Theory
Definitions Labour markets

Efficiency Wage Theory

Published on May 18, 2023

The Law of Unintended Consequences
Definitions Behavioural economics Labour markets Managing the economy

The Law of Unintended Consequences

Published on April 07, 2023

Increased UK Labor Force Embraces Digital in Navigating the Market
Definitions Labour markets

Increased UK Labor Force Embraces Digital in Navigating the Market

Published on December 01, 2022

An example of seasonal unemployment depicted in a ski slope in summer, with its ski lifts not in operation.
Labour markets Managing the economy

Seasonal Unemployment

Published on September 19, 2022

Using Asymmetric Information To Understand How Markets Work
Labour markets Managing the economy

Using Asymmetric Information To Understand How Markets Work

Published on September 24, 2021

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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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