The Economics of Apologies
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.
Copyright 2020 NPR. To see more, visit https://www.npr.org.