If you have ever flown with American Airlines or taken a ride in an Uber or Lyft taxi, you may have been part of an experiment by John List. The economics professor at the University of Chicago studies how people actually behave in the economy, mainly through field experiments.
He explains how his work differs from traditional research in this video:
At the same time, List, who is considered a candidate for the Nobel Prize in Economics, emphasises how important data is for companies. In the US, one third of newly founded companies go bankrupt within two years. One of the reasons for this is that these companies do not work adequately with the data they generate. Researchers could help turn raw data into gold:
List will also present his latest insights for entrepreneurs in an upcoming webinar: