Perceived as fair from human perspective

Reference no: EM132126906

Respond to both discussion questions below (should be a 250-word minimum per question):

1. Find an example of a business practice that is fair from an Econ perspective but may not be perceived as fair from a Human perspective. explain the perceived unfairness from a psychological perspective and contrast it to the traditional economics perspective. Finally, suggest what the business should do to make the practice psychologically fair, while still making money for the business.

2. Many companies utilize dynamic pricing – Uber, airlines, hotels, etc. – effectively a form of price discrimination. Is this fair from a psychological perspective? Why or why not? How could (or do) businesses employ it and still be perceived as fair by their employees and customers? What are the main differences between those approaches and approaches that are perceived as fair? (Tip: You may find it easier to focus this essay on a single company or type of company using dynamic pricing, rather than speaking in generalities.)

Reference no: EM132126906

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