In an analysis of Uber’s data, it appears that Uber users are more accepting of high fares as long as they “look genuine.” Meaning that if the surge price is 2.0, users will pass. But if the surge is 2.1, users will gladly accept the rate. This madness is not brought to you by the population’s inability to do math, nor is it due to a tear in the space-time continuum. People are actually willing to pay more for a ride based on what the surge price looks like. Why? Uber’s head of economic research, Keith Chen, had an interesting theory that is proving to be true. And the difference is not small. Huge numbers of Uber users are refusing to pay these “round number” surge prices because of a strange sense of justice. And the data is more than willing to back it up. This is inarguably insane. While users feel like they are taking their own destiny into their hands by refusing services perpetrated by an “unfair” system, they are still paying more. Whether or not you are taking a stand against “the man” or just afraid of round numbers, you are still enduring high prices for the sake of an imaginary conspiracy. Uber isn’t trying to take all of your money…because, let’s be honest, they already have it. H/T Business Insider
