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Thanks to APIs, many programmers can create add-ons and extensions to existing software.

API Economies and the Modularization of Production

Thirty years ago, you had to buy entirely new software when your current program became obsolete. Today, you can download an extension, patch, or upgrade. Thanks to APIs, application programming interfaces, these "modular" additions to software can come from virtually anywhere....
4 min read
PR agency presentation board
Market Failure

Reputation as a Public Good: Externalities in Corporate Communications Markets

Published on June 24, 2026

A gavel on top of a desktop keyboard
Information Failure Market Failure

Transaction Costs, Information Asymmetry, and the Rise of Online Legal Services

Published on July 28, 2025

An assortment of 7 presents wrapped in various holiday wrapping paper like red with white string, brown paper and red ribbons, and white paper with gold ribbons.
Behavioural economics Market Failure Information Failure

Understanding Hyperbolic Discounting and Spending Habits During the Holidays

Published on June 18, 2025

An image of a metal bank vault focused on the bolt-throwing hand wheel
Market Failure Competitive markets Managing the economy Business economics

The Supply and Demand of Deposits: Why San Diego CD Rates Differ from the National Average

Published on June 11, 2025

Virtual dataroom
Market Failure Price discrimination

Virtual Data Rooms as market institutions

Published on June 09, 2025

Warehouse storage
Market Failure operational-efficiency

Economic Effects of AI-Based Surveillance Technology in Warehousing Industry

Published on June 09, 2025

Landscape showing a hilly region with three wind turbines in the foreground
Information Failure Market Failure

Principal-Agent Theory and the Rise of ESG Reporting: Incentives, Institutions, and Regulation

Published on June 08, 2025

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Market Failure Information Failure

Principal–Agent Theory and Affiliate Fraud: Why Performance-Based Marketing Creates Opportunities for Strategic Misreporting

Published on June 07, 2025

Virtual card payment using phone
Market Failure Business economics

Transaction Cost Economics and The Demise of Wire Transfers

Published on June 06, 2025

Two people shaking hands in a business setting, symbolizing trust, agreement, and cooperation between parties.
Business economics Market Failure Behavioural economics

Information Economics and Signaling: Why Referral Marketing Works in Markets with Imperfect Information

Published on June 05, 2025

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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

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