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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
Tezos neon sign with black background and smoke
Behavioural economics Information Failure Market Failure

The NFT Resurgence and the Minsky Speculative Bubble Cycle

Published on March 21, 2024

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Market Failure

Market Failures in the Age of Product Complexity: Addressing Information Asymmetry

Published on January 12, 2024

Cartelism Meaning
Definitions Market Failure

Cartelism Meaning

Published on January 02, 2024

Pareto Efficiency
Definitions Competitive markets Market Failure

Pareto Efficiency

Published on September 14, 2023

Understanding the Tragedy of the Commons with Examples
Definitions Behavioural economics Market Failure

Understanding the Tragedy of the Commons with Examples

Published on May 08, 2023

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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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Definitions Behavioural economics Information Failure Market Failure Competitive markets

Asymmetric Information

Published on December 26, 2022

Newer Posts
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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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