The Power of Experiments
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The Power of Experiments: Decision Making in a Data-Driven World

The Power of Experiments: Decision Making in a Data-Driven World

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About the Book

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.”

Table of Contents:
Preface Part One: Breaking Out of the Lab Chapter 1: The Power of Experiments Chapter 2: The Rise of Experiments in Psychology and Economics Chapter 3: The Rise of Behavioral Experiments in Policymaking Part Two: Experiments in the Tech Sector Chapter 4: From the Behavioral Insights Team to Booking.com Chapter 5: #AirbnbWhileBlack Chapter 6: eBay's $50 Million Advertising Mistake Chapter 7: Deep Discounts at Alibaba Chapter 8: Shrouded Fees at StubHub Chapter 9: Market-level Experiments at Uber Chapter 10: The Facebook Blues Part Three: Experimenting for the Social Good Chapter 11: Behavioral Experiments for the Social Good Chapter 12: Healthy, Wealthy, and Wise Chapter 13: The Behavior Change for Good Project Chapter 14: The Ethics of Experimentation Chapter 15: A Final Case for Experiments and Some Concluding Lessons Notes Index


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Product Details
  • ISBN-13: 9780262542272
  • Publisher: MIT Press Ltd
  • Publisher Imprint: MIT Press
  • Height: 229 mm
  • No of Pages: 232
  • Sub Title: Decision Making in a Data-Driven World
  • ISBN-10: 0262542277
  • Publisher Date: 02 Mar 2021
  • Binding: Paperback
  • Language: English
  • Returnable: Y
  • Width: 152 mm


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