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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
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Factors of production Labour markets Business economics Competitive markets

Comparative Advantage in the Age of Automation: The Impact of AI on Global Trade Dynamics

Published on February 09, 2025

A view of modern skyscrapers from below, showcasing glass facades and geometric designs against a cloudy sky.

What Makes RIAs So Difficult to Sell To

Published on February 08, 2025

Public Goods and the Free Rider Problem: Evaluating Climate Change Mitigation Efforts Across Nations

Public Goods and the Free Rider Problem: Evaluating Climate Change Mitigation Efforts Across Nations

Published on February 04, 2025

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Behavioural economics Managing the economy

The Principle of Market Competition: Retail Investors Venturing into Complex Trading Sectors

Published on February 04, 2025

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Behavioural economics Business economics Competitive markets

Transaction Costs, Market Frictions, and Digital Disintermediation in Mobile Connectivity

Published on February 03, 2025

Consumers desire tech products that synchronize, creating network effects.

Economies of Scale in the Tech Industry: How Big Tech Firms Achieve Dominance through Network Expansion

Published on January 31, 2025

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Competitive markets Behavioural economics

Price Discrimination in the Airline Industry: A Study of Dynamic Pricing Strategies

Published on January 30, 2025

The 2008 financial crisis triggered the Great Recession (2008-09), which was the worst since the Great Depression.

Moral Hazard in the Banking Sector: Lessons from the 2008 Financial Crisis and Beyond

Published on January 30, 2025

Traffic congestion can cause several negative externalities that harm consumers and society.

Externalities and Urban Congestion: Analyzing the Economic Costs and Policy Responses in Major Global Cities

Published on January 30, 2025

A striking black-and-white view of skyscrapers converging towards the sky, highlighting modern architecture and geometric designs.

The Annual Budget No Longer Works: How Businesses Survive in an Era of Volatility

Published on January 30, 2025

Newer Posts
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Older Posts
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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