Social Media is Pushing Down Prices of Essential Products During Natural Disasters

Posted on September 12th, 2017 (0 Comments)

With two major hurricanes recently hitting the U.S., there’s been a renewed debate over how prices should be set during a crisis. Many economists push to let the market work by increasing prices of high demand goods. In contrast, many policy makers prefer more egalitarian approach of keeping prices low and distributing products on a first-come, first-serve basis.

But recently a new trend is emerging: companies are actually lowering prices and going the extra mile during tough times. Please check out my latest piece for the Harvard Business Review where I argue that social media is holding companies more accountable for their pricing actions.