The Economics of Apologies

Oct 12, 2018

Companies know that when they screw up big time they need to issue an immediate and comprehensive apology. But what about the smaller stuff? If a company gets your order wrong or sends you a faulty product, what should they do? That's the topic of a new paper on the economics of apologies. A group of economists partnered with the ride-sharing app Uber to try and figure out the most effective way for a company to apologize to a wronged customer.

Music by Drop Electric. Find us: Twitter/ Facebook.

Subscribe to our show on Apple Podcasts, PocketCasts and NPR One.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.