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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 3d graphic of various social media and tech companies' logos
Business economics Managing the economy Competitive markets

Social Media Views as a Liquid Store of Value: Analyzing the Role of Network Effects

Published on January 20, 2024

Three vertical box plots in green and red colors representing statistical data distributions.

Fear and Greed: The Emotional Side of Market Behavior

Published on January 18, 2024

A person with an umbrella stands between a charging bull and bear, symbolizing market volatility.

What Happens After You Sell Your Shares on the Stock Market? Understanding the Settlement Process

Published on January 18, 2024

A Decade of Economic Engineering: Lessons for Job Creation in the UK

A Decade of Economic Engineering: Lessons for Job Creation in the UK

Published on January 17, 2024

Autarkic: A Comprehensive Guide
Definitions Global economics Managing the economy

Autarkic: A Comprehensive Guide

Published on January 16, 2024

Illustration of a hand tapping an 'Update' button on a smartphone screen with app icons in the background.

The Principle of Substitution: How Browser-Based Services Are Outcompeting Application-Based Businesses

Published on January 16, 2024

Implicit vs. Explicit Costs
Definitions Business economics

Implicit vs. Explicit Costs

Published on January 14, 2024

Several parked cars at a car dealership in Japan.
Managing the economy

How Digital Approaches are Disrupting Brick-and-Mortar Businesses: The Case of Car Buying and Selling

Published on January 13, 2024

Person typing on macbook with a screen in the background.
Business economics

The Rise of AI in Personal Assistance: A Study in Comparative Advantage

Published on January 13, 2024

Photograph of the inside of a car dealership, with a red Mazda in the background and a desk in the foregroun
Market Failure

Market Failures in the Age of Product Complexity: Addressing Information Asymmetry

Published on January 12, 2024

Newer Posts
Page 78 of 199
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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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