Dynamic pricing in the new economy: Data up for grabs (Opinion, Page A19)

Wednesday, 12 April 2017

The Straits Times

In today’s edition of The Straits Times, there was the monthly “Ask: NUS Economists” series in which Mr Chua Yeow Hwee from the Department of Economics at NUS Faculty of Arts and Social Sciences discussed whether dynamic pricing increases efficiency. He noted the merits of dynamic pricing and cited the taxi industry as an example, but also highlighted that there is the issue of asymmetric information and lack of transparency that put users at a disadvantage. Mr Chua opined that one way to increase efficiency in dynamic pricing is to increase data transparency in the new economy, and added that with the decentralised digital revolution, we could leverage on blockchain technology to match passengers with drivers without a centralised intermediary.

Click here to read the article.

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