When gasoline is expensive, people grumble that big oil companies like Chevron and ExxonMobil are colluding to keep prices high. They’re wrong. The best way to understand why businesses aren’t ...

What if you could predict your competitor’s next move before they even made it? Game theory gives you the tools to do just that. Have you ever noticed how a new product launched by one brand often ...

A wage-price spiral is the stuff of inflationary nightmares. It refers to a situation when prices gallop higher—perhaps because of a sudden shock or policy missteps, or both—and wages race upward to ...

Discover how search theory illuminates market frictions, affecting employment, pricing, and transactions. Learn its applications across different economic contexts.

Political theorists are increasingly interested in understanding how firms are analogous to, or extensions of, government and the kinds of normative standards this implies. This is a welcome ...

For all the attention artificial intelligence commands, one fact remains stubbornly consistent: Between 85% and 95% of AI projects still fail. Not because the technology is immature, but because ...