Tag: Platform Economy

What’s the Price of Trust?

Trust is important in economies for reducing the cost of trade. But the marketplace has been a place where a few bad actors have driven down the general social level of trust. Behavioral economist Dan Ariely & some other researchers set out to measure how much trust people have in the market. They set up

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Lessons from the 1st Platform Economy

For 100 years, Sears ran a platform economy via its Sears catalogue. People spread across vast remote regions could get information about goods & order them for delivery, greatly reducing transaction costs. Sears wasn’t selling stoves, cattle feed, or clothing so much as it was providing information & connecting people. It shut down its famous

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