Drug Pricing and Trust: the Time Is Right

Pricing and Trust

We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and high prices coupled with low quality in non-competitive (monopolistic) markets. We then introduce a regulated intermediate price above the oligopoly price an...

What's the Right Price? Pricing Tasks for Finishing on Time

Many practitioners currently use rules of thumb to price tasks on online labor markets. Incorrect pricing leads to task starvation or inefficient use of capital. Formal pricing policies can address these challenges. In this paper we argue that a pricing policy can be based on the trade-off between price and desired completion time. We show how this duality can lead to a better pricing policy fo...

Volume-Based Transit Pricing: Is 95 the Right Percentile?

The 95 percentile billing mechanism has been an industry de facto standard for transit providers for well over a decade. While the simplicity of the scheme makes it attractive as a billing mechanism, dramatic evolution in traffic patterns, associated interconnection practices and industry structure over the last two decades motivates an obvious question: is it still appropriate? In this paper, ...

Is the future the right time?

Spanish and English speakers tend to conceptualize time as running from left to right along a mental line. Previous research suggests that this representational strategy arises from the participants' exposure to a left-to-right writing system. However, direct evidence supporting this assertion suffers from several limitations and relies only on the visual modality. This study subjected to a dir...

mass surgical treatment of obesity and type-2 diabetes: now is the right time