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Today, firms use massive sets of data just as they would any other factor of production.

Data as Capital: Rethinking the Factors of Production

In the past quarter-century, digital data has become a new factor of production, allowing firms to create new products, communicate with suppliers and retailers, and advertise to customers. How does data affect firms' value, and how will it affect macro-level economic growth?...
4 min read
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Definitions

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Saddique Ansari • January 17, 2020 • 2 min read

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PED Price elasticity of demand
PES Price elasticity of supply
World Trade Organisation Cross elasticity of demand
YED Income elasticity of demand
Costs Costs
Perfect competition Perfect competition
Monopolistic competition Monopolistic competition
Oligopoly Oligopoly
Primary markets Primary markets
Externalities Externalities
Natural_monopoly Natural monopoly
AD-AS AD-AS model
Circular-flow Circular flow
Customs Customs unions
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If AI software scans you and decides you want the product more than average, should it be able to charge you more money?

AI Price Discrimination and the End of the “Uniform Price”

Sellers have long wished to be able to charge higher prices to customers who are willing and able to pay more. Now, with AI software, sellers may finally have the ability to quickly and accurately analyze customers' willingness to pay. Is this ethical?...
4 min read

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