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With a little forethought and some savvy cooperation with the gatekeepers in the organization, innovation leaders can set up guidelines to limit the liabilities of market experiments.
Once the eighth-largest economy in the world, it steadily slid through the 20th century, thanks to decades of repressive dictatorships and inconsistent market experiments.
However, its Scandinavian neighbour Finland provides an example of a schools system which has dramatically improved its international standing not by market experiments but by increasing the morale, the training and the trust shown in its teachers.
The concern can be valid, but by answering a few questions, and playing with a few variables, you can usually find a way to conduct market experiments that does not put your relationship with customers at risk.
Others, like the credit card company Capital One, continually conduct large numbers of market experiments knowing that while most of their tests won't pay off, even the failures will provide valuable insights into customer preferences.
We experimentally manipulate agents' information regarding the rationality of others in a setting in which previous studies have found irrationality to be present, namely the asset market experiments introduced by Smith et al. (1988).
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But has the free market experiment failed?
Truly a free market experiment is being put into place.
The great free market experiment looks more like a corporate welfare scheme.
They don't like our membership of the EU because they feel constrained in their free market experiment".
By late autumn Ukraine appeared to have come full circle, returning to state control after a brief "market" experiment.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com