Behavioural Finance
Big data means companies know exactly how much you'd pay to save 10 minutes. Do you?
In this Globe and Mail column, I look at how ride-hailing apps are quietly turning your habits into pricing power. New research reveals that companies can estimate your personal “value of time” based on when and how you ride then adjust prices accordingly. It’s not just about peak demand anymore, it’s about your specific urgency in the moment. The result is a shift from one-size-fits-all pricing to personalized nudges that separate impatient spenders from the rest. I also explore how the anticipation of waiting can sometimes be more rewarding than instant gratification. The key question: are you valuing your time, or letting someone else put a price on it?
When it comes to surge pricing on ride-sharing apps, how much is your time worth? Companies are watching
Ride-hailing apps collect a lot of data on our habits including how often we pay for faster service and how sensitive we are to price
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