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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
Picture of railroad tracks

The Impact of Opportunity Cost in Public Infrastructure Projects: A Case Study of High-Speed Rail in California

Published on February 15, 2025

Stethoscope resting on financial charts and bar graphs illustrating the economic impact of medical negligence.

The Economic Cost of Medical Negligence: How Healthcare Failures Impact Individuals and the Economy

Published on February 15, 2025

Image of a trading terminal with black background.
Behavioural economics Business economics Competitive markets

Human Capital Theory and Skill Compression: How Visual Tools Lower Barriers in Financial Markets

Published on February 14, 2025

A factory produces goods.  If it pays lower wages than in a wealthy country, is it ethical?

Comparative Advantage in the Modern Era: The Impact of Free Trade on Developing Economies

Published on February 13, 2025

Economies of Scale and the Rise of Mega Factories: The Case of Tesla’s Gigafactories

Economies of Scale and the Rise of Mega Factories: The Case of Tesla’s Gigafactories

Published on February 13, 2025

A highway with 1 motorcycle riding on it.
Behavioural economics Business economics Competitive markets

Public Goods Theory and Private Provision: Why Governments Finance Roads but Do Not Build Them

Published on February 13, 2025

Ocean fishing has become unsustainable due to massive overfishing, leading policymakers to seek limits

The Tragedy of the Commons and Overfishing: Analyzing Global Fisheries Management Policies

Published on February 11, 2025

Close-up of three credit cards in varying colors, displaying embossed numbers and expiration dates, on a blurred background.

Consumer Protection in Payments: What Happens After You Report Fraud

Published on February 11, 2025

Office setting with woman reading a piece of paper in the foreground and man and woman in the background.
Behavioural economics Business economics Competitive markets

Vertical Differentiation and Market Power in Recruitment Micro-Niches: An Industrial Organisation Perspective

Published on February 10, 2025

London judicial building in the background.
Behavioural economics Business economics Competitive markets

Asymmetric Information and Credence Goods: Why Choosing a Family Solicitor Is So Difficult

Published on February 10, 2025

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AI logo and network powe

Beyond the Chips: Why Cables, Connectors and Power Networks Matter to AI Growth

Artificial intelligence is often presented as a race for faster processors and more capable software. Yet every large AI system also depends...
3 min read

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