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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
Paris Summit COP21
Market failures

Paris Summit COP21

Published on January 29, 2020

Inefficiency
Market failures

Inefficiency

Published on January 29, 2020

Monopoly power
Market failures

Monopoly power

Published on January 29, 2020

Lack of property rights
Market failures

Lack of property rights

Published on January 29, 2020

Government Failure
Market failures

Government Failure

Published on January 27, 2020

Unequal income distribution
Market failures

Unequal income distribution

Published on January 17, 2020

Financial market failures
Market failures

Financial market failures

Published on January 17, 2020

Unstable markets
Market failures

Unstable markets

Published on January 17, 2020

Moral hazard
Market failures

Moral hazard

Published on January 17, 2020

Information failure
Market failures

Information failure

Published on January 17, 2020

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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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