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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
The Circular Flow Diagram
Definitions Managing the economy

The Circular Flow Diagram

Published on March 22, 2024

Marginal Utility Formula
Definitions Behavioural economics

Marginal Utility Formula

Published on March 22, 2024

Liquidity Trap
Definitions Managing the economy Global economics

Liquidity Trap

Published on March 22, 2024

Money Illusion
Definitions Behavioural economics

Money Illusion

Published on February 28, 2024

Time Lags in Economics
Definitions Managing the economy

Time Lags in Economics

Published on February 28, 2024

Scarcity in Economics
Definitions Factors of production

Scarcity in Economics

Published on February 18, 2024

Leverage Ratios Explained
Definitions Business economics

Leverage Ratios Explained

Published on February 18, 2024

Shortages in Economics
Definitions Competitive markets

Shortages in Economics

Published on February 13, 2024

Prospect Theory
Definitions Behavioural economics

Prospect Theory

Published on February 09, 2024

What is Mercantilism?
Definitions Global economics Managing the economy

What is Mercantilism?

Published on February 08, 2024

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?
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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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