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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
Income Elasticity of Demand
Competitive markets

Income Elasticity of Demand

Published on January 13, 2020

Cross Elasticity of Demand
Competitive markets

Cross Elasticity of Demand

Published on January 13, 2020

Point Elasticity of Demand
Competitive markets

Point Elasticity of Demand

Published on January 13, 2020

Non market price
Competitive markets

Non market price

Published on January 13, 2020

Tax Incidence
Competitive markets

Tax Incidence

Published on January 13, 2020

Market Equilibrium
Competitive markets

Market Equilibrium

Published on January 13, 2020

Consumer and Producer Surplus
Competitive markets

Consumer and Producer Surplus

Published on January 13, 2020

Price Elasticity of Supply
Competitive markets

Price Elasticity of Supply

Published on January 13, 2020

Subsidies
Competitive markets

Subsidies

Published on January 13, 2020

Shifts in Supply
Competitive markets

Shifts in Supply

Published on January 13, 2020

Newer Posts
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As AI makes fake news harder to distinguish from factual information, will consumers begin paying for verified sources?

The Economics of Deepfake Detection: Trust, Verification, and Information Markets

As AI makes fake news and misinformation harder and harder to detect, will consumers and producers begin paying for verification and certification of authenticity? Should governments get involved to re-establish trust in information to soothe roiling markets?...
4 min read

Recent Post

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
Instead of paying for Internet ads or TV commercials featuring celebrities, many firms are now using social media influencers to endorse products.
The Economics of Micro-Influencers: Reputation, Pricing, and Market Structure
December 19, 2025

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