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Friday, April 14, 2017

Uber and Behavioral Economics

Fascinating piece about behavioral economics.      Behavioral economics seems to be OK when everyone agrees that it is good and fair, by their definition.  Back to the nudge, with some basic guidelines:   Nudge me only for clearly aligned company and employee interests, with a clear permission to opt out.    Or is it more an environment than a nudge?

Uber Shows How Not to Apply Behavioral Economics  by Francesca Gino
A recent New York Times article on how Uber is using various insights from behavioral economics to push, or nudge, its drivers to pick up more fares — sometimes with little benefit to them — has generated quite a bit of criticism of Uber. It’s just one of several stories of late that have cast the company in a poor light.

When I read the piece, it reminded me of a question executives often ask me when I talk to them about the benefits of behavioral economics or give them examples of how they could use it in their own organizations: “Aren’t you afraid it will be used with ill intent?”  ... '

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