Sector: Consumer Services
-
The En$hittification of soccer?
No, I am not writing that headline because France has lost. As always, France had the talent to win, but counted too much on the supposed brilliance of their star players that never showed because Spain thwarted them. Spain was more aggressive on the ball and knew who to pressure (Olise) and how to control…
-
Changing the Narrative on World Cup Ticket Pricing
Have you noticed that the furor around the prices for World Cup tickets has died down since the tournament started? There are good reasons for that, and they offer some broader insights into price perception and price communication. The in-real-life experiences of fans at the venues across Canada, the United States, and Mexico have changed…
-
How Americans Can Tame Their Tipping Craze
Tipping isn’t a big deal in most of the world, but it is a seemingly intractable cultural norm in the United States. The long history of tipping in the United States – as this short animated video shows – has established an awkward equilibrium that binds restaurant owners, their service staff, and their customers together.…
-
The Insurance “Canary” in the Climate “Coal Mine”
Significant price changes may represent much more than short-term tactical adjustments in a market. Sometimes, they are ominous signals that a market is facing fundamental problems that may require radical solutions if buyers, sellers, and other stakeholders do not heed the warnings. The current market for homeowners insurance in the United States might be sending…
-
Japan’s Tourist Surge: Can Differentiated Pricing Help Control the Overflow?
Japan has too many tourists. Is differentiated pricing the solution? This article reports that Japan attracted an “unprecedented” 25 million tourists in 2023, as travelers took advantage of a sharp decline in the yen over the last five years. That’s why some Japanese tourist attractions have implemented significantly higher prices for tourists than for domestic…
-
AI as a lie detector
Can AI also serve as a lie detector? Recently published research looked at how AI can recognize when people provide misleading information, such as when they apply for a mortgage or insurance. The team’s algorithms aim to reduce someone’s economic incentive to tell a “big lie” for financial gain. New Technique Helps AI Tell When…