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When he's not teaching economics classes at the University of Chicago, penning Zofingen Switzerland dating books, or doing articles or podcasts on quirks of applied microeconomics, Steve Levitt occasionally takes gigs consulting for companies. He humbly told the audience at Wednesday's World Business Forum that it's not always his most fruitful endeavor: "When I'm business consulting, Girk do nothing but fail," he says.

He explained that some time ago he was conducting an empirical study of street prostitutes in the city of Chicago, and, through a connection at a company he was consulting with, met a high-end call girl who had read "Freakonomics," and who was willing to help him with his study by providing data.

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He explained:. The two talked data over brunch and then Levitt decided Crazy Koniz bands for men bring up business strategy with. But he managed to trip her up when his line of questioning turned to money.

The only thing we're really New Carouge call girl price at is setting prices! So he decided to try to help her figure out the right price for her time. He says he recalled she told him she had a dedicated phone line for client calls, so he asked her what she felt when that phone rang. I don't really care when it rings. Sometimes, I don't even pick it up,'" Levitt said.

Levitt recalled his reaction: "My God!

You've got a local monopolist! You've got a downward-sloping demand curve, and if you could prics one more unit at the price you'd sold your last unit at, of course you should want to! If you're indifferent, you can't be possibly be charging a high-enough price! Fast forward some months. Levitt decided that since he was conducting the empirical study of prostitution, he should add girp lecture to his University of Chicago economics class about that research.

He invited the woman to speak to his class.

She politely declined--until he offered to pay her usual hourly rate prjce her time. She obliged. As Levitt tells it, the lecture went wonderfully--some students claimed it was their favorite lecture of their undergraduate career, which might be a separate lesson for some econ professors--until the woman took a question on pricing strategy from a student toward the very end of her talk.

The next student asked her how she decided to charge that amount, as Levitt tells it.

She decided to rib Levitt a bit more, with some choice wording. It was the best business decision I've ever made,'" Levitt explained.

Levitt got a tremendous laugh from the audience, which, I imagine, calk worth a great deal more than the extra cash he ended up paying for doling out unsolicited pricing advice. Then again, I'm no freakonomist.

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