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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
A glowing blue sphere labeled "AI" connected by digital lines, symbolizing artificial intelligence and network connections.

Business Cases for AI: How Firms Should Prioritize AI Projects

Published on January 08, 2025

Photograph of a city by the ocean, with various ships traversing the water in front of it.
Global economics

Global Trade in the Age of Deglobalization - Is the World Turning Inward?

Published on January 07, 2025

Picture of a shopping center at night.
Behavioural economics

The Behavioral Economics of Everyday Choices: Why We Spend, Save, and Splurge

Published on January 07, 2025

A person types on a laptop, with digital graphs and charts overlaid, illustrating data analysis and technology use.

Why Controlling Your Online Data Is Part of Today’s Economy

Published on January 06, 2025

Image of a crowd of students graduating, standing in their graduation gowns.
Managing the economy Market Failure

Tuition and Administrative Bloat: Examining the Economic Principle of Cost Disease

Published on January 01, 2025

Man sitting on a scooter looking at his phone
Behavioural economics Business economics Competitive markets

The Gig Economy Revolution: Freedom or Precarity?

Published on December 29, 2024

Windfarm at dusk on a green hillside.
Behavioural economics Business economics Competitive markets

Externalities and Pigouvian Policy: Pricing the Full Social Cost of Green Energy in Europe

Published on December 27, 2024

Inside a warehouse.

How to Calculate Warehouse Rental Value: A Total Cost and Unit Economics Framework

Published on December 26, 2024

Bundled cardboard boxes with blue tape over them
Behavioural economics Business economics Competitive markets

Economies of Scale and the Socialization of Fixed Costs: Why Size No Longer Belongs Only to Firms

Published on December 25, 2024

Tax Multiplier Formula
Definitions Managing the economy

Tax Multiplier Formula

Published on December 21, 2024

Newer Posts
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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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