Re:Uber Increases Fares 2x in NYC
by airlocksoftware on Wednesday October 31, 2012 @11:40PM
(#4726094)
As Uber said in one of the tweets quoted in the linked article, by increasing the fare they increased their supply of drivers by 50%. I.e. since they were being paid more, more drivers decided to work more hours. This is the expected result from the application of basic economics. It has nothing to do with unflooding subways; just more drivers working longer hours because they want to get paid more.
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