If you’ve ever gotten a ride via Uber or rented a room using Airbnb, you know that the sharing economy relies on customer reviews and ratings to survive. After all, who would risk staying in the apartment of a stranger without knowing that others have already come out alive?
Ratings and reviews just might be more effective than pages of regulations at promoting positive behavior and discouraging bad behavior. And that’s an important lesson for regulation-heavy governments to learn. Read here to learn more.