(image credit: Alex W)

Pricing under pressure.

Should morality, rather than the market, dictate the right price of goods and services in emergency situations?

his book Misbehaving, behavioural economist Richard Thaler relates an interesting experiment he conducted with Daniel Kahneman and Jack Knetsch. In the days when Amazon’s Mechanical Turk was but a mere twinkle in Jeff Bezos’ eye, they…