How tech companies like Google, Airbnb, StubHub, and Facebook learn from experiments in our data-driven world—an excellent primer on experimental and behavioral economics Have you logged into Facebook recently? Searched for something on Google? Chosen a movie on Netflix? If so, you've probably been an unwitting participant in a variety of experiments—also known as randomized controlled trials—designed to test the impact of different online experiences. Once an esoteric tool for academic research, the randomized controlled trial has gone mainstream. No tech company worth its salt (or its share price) would dare make major changes to its platform without first running experiments to understand how they would influence user behavior. In this book, Michael Luca and Max Bazerman explain the importance of experiments for decision making in a data-driven world. Luca and Bazerman describe the central role experiments play in the tech sector, drawing lessons and best practices from the experiences of such companies as StubHub, Alibaba, and Uber. Successful experiments can save companies money—eBay, for example, discovered how to cut $50 million from its yearly advertising budget—or bring to light something previously ignored, as when Airbnb was forced to confront rampant discrimination by its hosts. Moving beyond tech, Luca and Bazerman consider experimenting for the social good—different ways that governments are using experiments to influence or “nudge” behavior ranging from voter apathy to school absenteeism. Experiments, they argue, are part of any leader's toolkit. With this book, readers can become part of “the experimental revolution.”
✔ Author(s): Michael Luca,Max H. Bazerman
✔ Title: The Power of Experiments: Decision Making in a Data-Driven World (Mit Press)
✔ Rating : 4.2 out of 5 base on (104 reviews)
✔ ISBN-10: 0262542277
✔ Language: English
✔ Format ebook: PDF, EPUB, Kindle, Audio, HTML and MOBI
✔ Device compatibles: Android, iOS, PC and Amazon Kindle
Readers' opinions about The Power of Experiments by Michael Luca
Arabella Whitfield
Follow the thrilling adventures of an unlikely hero in a world full of danger and intrigue. The author's fast-paced writing and imaginative plot keep you on the edge of your seat. Each character is well-developed, adding depth to the exciting narrative. The twists and turns make for a rollercoaster of emotions. It's an exhilarating read that captures the essence of adventure. Perfect for fans of action-packed stories.
Maydena Winter
Discover the hidden stories behind famous works of art in this fascinating book. The author's detailed research and engaging writing bring each piece to life. Each chapter uncovers new insights into the artists' lives and creative processes. The narrative is both informative and captivating, offering a new perspective on familiar artworks. It's a must-read for art lovers and history buffs alike. Perfect for those who appreciate the stories behind the art.
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