Question
Title:Why Uber is an Economist's Dream. url:https://freakonomics.com/podcast/uber-economists-dream This is an article and podcast on Uber, and one economist using the massive amounts of data that
Title:Why Uber is an Economist's Dream.
url:https://freakonomics.com/podcast/uber-economists-dream
This is an article and podcast on Uber, and one economist using the massive amounts of data that Uber produces to get as close as possible to actually being able to draw a real-life demand curve for ride services. Uber produces a very large amount of data and has a whole team of data-driven economists that study the behaviour of the people that use the service.
In this article, the author makes the point that he was not able to observe the demand curve he wanted but rather was able to see an "instantaneous demand curve." In other words, he was only able to see what the demand curve for ride services looked like for one snapshot in time. The problem is that, in reality, these demand curves are moving around (or increasing and decreasing) all of the time. When focusing on Uber, what are some reasons that these demand curves may constantly be shifting? Give a specific example of something that would be moving the demand curve and how it moves it.
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