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Applied Microeconomics And Business Intelligence In The Digital Age, Thomas J. Weinandy
Applied Microeconomics And Business Intelligence In The Digital Age, Thomas J. Weinandy
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The Digital Age is defined by advances in big data, low-cost computing, and modern analytical methods. In three chapters, I apply microeconomic thought to the influence these digital technologies have on business and consumer decision-making.
Chapter One considers how Transportation Network Companies (TNCs) like Uber and Lyft impact the relationship between the quantity of car service trips and fuel prices. I find that a single day 1% increase in fuel prices is associated with a 0.367 to 0.486% decrease in the number of TNC trips and a 0.033 to 0.088% increase in the number of taxi trips, even though the …