Re:Do U.S. Ports Need More Automation?
by s1artibartfast on Tuesday October 08, 2024 @02:46PM
(#41780455)
How the price is determined is irrelevant in my mind.
If you know the price, you can choose to accept it or not.
I never took a taxi with posted trip cost. Best was price per mile/time and the cabbies wouldn't tell you how for or long it would take
Re:Do U.S. Ports Need More Automation?
by CaptainFever on Wednesday October 09, 2024 @09:41AM
(#41787875)
Note that the economic term for this is price discrimination, and it isn't necessarily a bad thing: https://www.investopedia.com/terms/p/price_discrimination.as...
Re:Do U.S. Ports Need More Automation?
by s1artibartfast on Wednesday October 09, 2024 @10:33AM
(#41788332)
Seller price discrimination is a different phenomenon from what I am discussing.
I am hinting at how ex-ante price disclosure or negotiation reduces transactions costs of triangulation and trust.
It absolutely can be, if customers don't know how that price is generated, which you don't. You agree but you don't have the full facts. Your friend could be paying half and you're getting ripped off.
And, to be clear, many taxis before Uber did actually advertise their rates. This is the same situation then, but even better, because you know your rate isn't for you, it's for everyone.