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AI is a convenient tool for getting answers in common language...but are these answers accurate?

The Economics of AI Hallucinations: Information Quality as a Market Good

Many of us love to use AI programs, from ChatGPT to Grok to Google Gemini, to give us answers to complex questions in simple, common language. But are we risking financial and economic inefficiency due to AI errors? Will consumers demand that their AI answers be human-verified?...
4 min read
That in-dash navigation system in your new car is convenient...but is it included in the purchase of the vehicle?

The Subscription to Everything Economy

Published on October 24, 2025

What tools can companies use to convince consumers to buy more expensive sustainable consumption options?

Behavioral Nudges in Sustainable Consumption

Published on October 24, 2025

Algorithms are used by today's social media platforms to determine which posts we see.

The Economics of Algorithmic Curation in News and Media

Published on October 24, 2025

Many restaurants on delivery apps like Door Dash and Uber Eats are actually ghost kitchens without storefronts.

The Gig Economy of Cloud Kitchens

Published on October 19, 2025

Many workers are "quiet quitting" today, meaning they perform the bare minimum at work but refuse to leave the job.

The Economics of Quiet Quitting: Labor Supply Meets Workplace Incentives

Published on October 17, 2025

Are influencers and short-form social media feeds destroying our attention spans from our constant desire for entertainment?

The Attention Economy and Cognitive Scarcity

Published on October 05, 2025

Modern technology and algorithms will likely lead to increased dynamic prices in tickets for sports and entertainment.

Dynamic Pricing in Sports and Entertainment

Published on October 05, 2025

What caused the rapid rise of Airbnb and Vrbo (short-term rental market) as rivals to hotels and motels?

The Economics of Short-Term Rentals vs. Hotels

Published on October 02, 2025

Firms can use data analysis to streamline operations, conduct market research, and design more desirable products.

Data as an Input: Returns to Scale in the Information Economy

Published on September 29, 2025

The rise of remote work during the Covid pandemic led to many urban white collar workers moving to small towns.

The Economics of Remote Work Geography

Published on September 25, 2025

Newer Posts
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Digital twins and AI modeling can help companies determine exactly when maintenance should be done to maximize efficiency.

The Economics of Digital Twins and Predictive Maintenance

Large companies may be spending billions of dollars a year in inefficient maintenance on their capital goods, either doing too much maintenance and wasting money or not enough maintenance and dealing with equipment failure. Can digital twins and AI end this inefficiency?...
4 min read

Recent Post

Today, most consumers get their digital entertainment through monthly subscriptions.  Will this model last?
Subscription Economies and the Rebundling of Consumer Demand
January 06, 2026
What would happen if sellers could use AI to determine how much you are willing and able to pay for every possible product?
The Economics of Hyper-Personalization: When Every Consumer Gets a Different Price
December 24, 2025
Thanks to the ease of remote work with today's technology, do cities still enjoy an agglomeration advantage?
The Geography of Remote Work: Are Cities Losing Their Agglomeration Advantage?
December 19, 2025

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