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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
Oligopoly
Definitions

Oligopoly

Saddique Ansari • January 29, 2020 • 1 min read

Author bio

Oligopoly – definition

An oligopoly is a firm in a given market with a few competitors. A market is oligopolistic if it is dominated by a few firms.


  • Application of game theory to oligopoly


  • Read the full analysis of oligopoly



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