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Chapter Four Discussion – Why Uber Is AN Economists Dream Let’s spend some time
Chapter Four Discussion – Why Uber Is AN Economists Dream Let's spend some time thinking about the theories we learned relative to the laws of supply and demand. It turns out that while it's all commonly accepted to be as described, it's exceptionally hard to find sources of market data to prove the various pieces of supply and demand. Or at least it was. Uber has changed all of that because they actually track every potential transaction and can tell what buyers and sellers actually paid as well as buyers and sellers would not have been willing to pay for their service. As a result, they have visibility to a customer's willingness to pay and producer costs. Take a listen to the attached Freakonomics link and tell me what you think. Your two tasks are: 1. Listen to the 38 minutes podcast. Why Uber Is an Economist’s Dream (Ep. 258) URL: www.freakonomics.com/podcast/uber-economists-dream/

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