Get ready for a new eCorner experience!
Later this summer, eCorner will become part of the website for STVP, the Stanford Engineering Entrepreneurship Center. You'll be able to access all eCorner content at stvp.stanford.edu. Existing links and bookmarks will redirect. Sign up for our newsletter to stay in the loop!

Efficient markets – Great for Customers, Tough on Business

Chip Conley, Modern Elder Academy

During the economic downturn that followed the dot-com bust, there were many travel bargains to be found through new websites such as Expedia and Priceline. In what is called an efficient market, customers had a flood of bargains at their fingertips. Joie de Vivre Hotels was forced to lower room prices and pay commissions to these third-party websites.