Why grocery stores only? It’s also unclear how this will change anything - don’t the grocery stores in richer areas already charge more? I’ve noticed Whole Foods prices are not the same across all stores even in the same state.
You're thinking of pricing zones—shoppers in Zone A pay a different price than those in Zone B. This makes sense, for example, if shipping costs are higher in Zone B.
The bill in question is about per-shopper pricing (e.g, you and I pay different prices in the same store). This is something Lyft and Uber do, but it's not really possible in retail.
> This is something Lyft and Uber do, but it's not really possible in retail.
It is possible for retail. For example, you can simply not display the price. You can display a price range. You can use EInk displays which auto-update based on who's approaching the item.
And of course it's infinitely possible in an online store.
One example of how this is being employed is McDonalds trying to push everyone to use the app. They'll give lower prices in app while raising prices on the menu giving a "not using app" tax. That enables them to have flexible per user prices within the app. A store could do the same thing.
Canada's major grocery chain has migrated entirely to LCD price tagging that can receive OTA updates. There are now no paper price labels in the store.
The same chains have extensive camera coverage on the entrance / exits of the store.
So pricing can be an optimization function as fine grained as persons currently in the store.
Cameras on the aisles as well can enforce that individual tags update while nobody is within 15 feet, etc.
It's hard to even talk or think about without without sounding (and becoming!) conspiratorial. Add a little data from our trusted partners and they can jack specific prices according to urgency - eg, floral bouquets when you're en route to a dance recital.
Price targeting can help the poor in some cases and hurt them in others. For essentials where the need to purchase is high and the provider has a semi-monopoly, dynamic pricing leaves everyone worse off. For instance, think of groceries where there is only one store nearby or medicines with only one producer.
On the other hand, for something like a Netflix subscription, price discrimination DOES tend to help the poor users out. Netflix is 10x cheaper in third world countries for the exact same product. If they were forced to charge the same price everywhere, they would just charge everyone the US price and foreign users would be left out.
Per customer pricing will squeeze every customer for every dollar they can possibly afford. The more data they have the more they can calculate the level of desperation for each purchase. If they have your message history and see your mum is dying, they can spike flight tickets for example. And they will know exactly the highest amount you can afford for it.
Price discrimination at all is not the same as individualized prices. And really the issue conflates two things: 1, privacy and surveillance pricing; 2, AI profit-maximizing.
Even if Netflix or others do price-discrimination, the AI-pricing issue would still be used to squeeze as much as possible from the poor. It's not like these blood-sucking capitalists who run these massive corporations are into helping the poor.
Which supermarkets have you seen doing this? This conspiracy theory about epaper tags changing their price on you falls flat when you think about it for even a moment. The tags do not update fast enough to do that, couldn’t handle multiple people in the same area, and would be impractical to link back to the purchase time, resulting in people noticing the price scanned didn’t match what they saw on the ticket.
Per customer pricing is only possible for online shopping.
Wait, isn't this prohibited already? Some of it may be a gray zone, but a good portion of it is already downright illegal in many countries, and the rest is extremely unethical.
This is like responding to symptoms and not addressing the root cause. This is something that should be fixed by supply and demand, buyers should have a choice where to buy and sellers should have a choice how to price their products.
These problems arise when dealing with a monopoly, that undermines
the free market and that's a far worse systemic problem and the root cause of these issues. AI has nothing to do with it.
There is an imbalance in leverage and timing though. Dynamic pricing requires a lot of real time and historical data; companies can access and share that information easily, and you as a consumer cannot.
Even in areas with multiple competitors, they can (and do) effectively collude by getting their information through data brokers and third parties.
I don't have a solution, but we are currently very far away from a free market in general.
When the government actively decides the price of goods and services, it becomes more and more like communism. The government should instead uphold the free market and proactively prevent collusion and monopolies that threaten the free market, this is harder to do in the US because of lobbying though.
When I was at that tender age when many nerdy boys read and fall to Atlas Shrugged I read The Pearl by Steinbeck. Which has a passage I never forgot.
“It was supposed that the pearl buyers were individuals acting alone, bidding against one another for the pearls the fishermen brought in. And once it had been so. But this was a wasteful method, for often, in the excitement of bidding for a fine pearl, too great a price had been paid to the fisherman. This was extravagant and not to be countenanced. Now there was only one pearl buyer with many hands"
Yesterday in Lidl I was a bit shocked seeing the coupons offered by their app. They did a really good job with their mixture of stuff I had bought or might buy.
use a VPN, like Bulgaria is usually good. everything is on sale if you are Bulgarian (most of the time).
you may have to text back Yes your credit card company when you get a fraud alert text - that’s about the only inconvenience. just bought US-EU return ticket for June - 22% lower than lowest price I’ve seen “from US” in the last month
I assume this doesn't work with every airline / in every case? E.g., if I am booking with a US-based airline like United or American, to fly between two US cities, do they really bother to offer cheaper tickets based on your international location?
Grocery stores have smaller margins and more options compared to pretty much any industry, yet politicians seem to think they are the cause of all of our ills.
No, grocery stores will be the weakest entry point to have the customer get used to get individual pricing. It's not the store owners themselves but big data businesses who do the pricing for them. Essentially taking the freedom away from the shops even further while at the same time squeezing even more money out of customers. This totally distorts supply and demand.
There is no way Walmart or Target or whoever is giving up their gold dust to some nameless SaaS for pricing. They will do it in-house. Never mind the fact that a similar aggregation attempt for the property rental market was considered actionable by the DoJ already.
Doesn't this then open a market for "vpn style" apps that make everyone look broke? Get the lowest prices (ie market/baseline) on every interaction from food delivery to airplane tickets?
That then leads to a cat and mouse chase, and in the end the big corporations will win by forcing you to tie your real identity to your shopping identity, which won’t turn off enough consumers to meaningfully impact the bottom line.
The problem isn't really turning them off as much as it is people having no choice. There aren't too many supermarket chains. If one chain does this, rather than other chains undercutting them on price, they're going to do the same to maximize their profits. Most people only have one or two stores near their home. Some maybe have three. That doesn't leave a lot of options. And if you or your family is hungry, you won't drive around for hours, burning gas, until you find a shop that saves you a few bucks. Most people will have no choice but to give in, then the practice is implemented everywhere and the price treadmill accelerates.
You've actually got that backwards - being wealthy makes your time and effort worth more (to you) than the half-hour you'd spend price-comparing every item in the cart for each price difference (each between $0.03 and $2.00), while being poor makes price comparisons much more worth it
Being more financially stable means you pay higher prices, in this scenario
Most algorithms doing this charge lower prices to the wealthy since they are more valuable customers.
Total spend is higher. And if your $20 tricket breaks you're less likely to bother to return it if $20 doesn't mean that much to you. Plus other reasons I'm sure.
Price controls will screw over the most vulnerable consumers. Small businesses will offer lower prices to price sensitive or low-income consumers or repeat customers. Because despite what you will read about on Reddit, the owners are not cartoon characters, live in the community and care about their neighbors.
Because this kind of price discrimination doesn’t require selling or purchasing data from data brokers. If you buy enough from Instacart, they can and do build it all in-house.
> Merchants face fines of $10,000 for running afoul of the law, and penalties of $25,000 for repeat offenses.
Another limp-wristed penalty. Why not something like "$1,000 per dollar that you received as payment for prices in violation"? Customer buys a $5 can of beans that was AI-priced, you owe $5,000. They buy another can, you owe another $5,000. You have it set for the whole store, wham, you now owe 1,000 times your gross revenue for that day. Better damn well not do it.
Good! Surveillance pricing needs to be regulated, it distorts supply and demand massively because one party (pricing service providers, big chain stores) has a MASSIVE information advantage other the others (end customers and small shop owners). It's going to finalize the transition from a free market to a oligopoly in the retail sector. It's basically socialism for a few powerful corporations.
No, surveillance pricing is used to get the maximum out of the customer, not the opposite. This needs to be illegal. If anything surveillance pricing will make the retail business MORE like the health care system, because the latter already employs these tactics: the unhealthier you are, the more you pay. Same thing as surveillance pricing.
It's a fundamental shift from:
"I sell this product for the cheapest price possible and I make everything possible in my business to be cost effective and buy from more cost effective businesses."
TO
"I don't care about cost-effectiveness. I just try to find out how to get the most money out of my customers."
Regarding US healthcare costs, I cannot understand why people are not in the streets with pitchforks. Most of Europe has this problem solved.
What is the root cause w.r.t. the current situation? Are there any obvious ways out? Do any US politicians have any plans for a change? Are there any discussed proposals how to reform?
> What is the root cause w.r.t. the current situation?
The current US is built to accomodate the top 0.1%. Their profiteering is more important than the good health of the population.
> Are there any obvious ways out?
Not really. Get money out of politics? Aggressively tax the wealthy and nationalize the entire health apparatus? Easier said than done.
> Do any US politicians have any plans for a change?
The only ones serious about it are on the progressive left, fought harshly by both Republicans and Establishment Democrats, under the guise of their respective patrons.
the US has a bigger public healthcare system than, afaik, every European country. the reason why there aren't pitchforks is also because the US is a much richer country than Europe so people are happy to pay for more healthcare. if you are rich, the marginal value of money vs more time being alive is zero (an example is orthapedics for the elderly, the US spends a huge amount in this area relative to most European countries).
it is worth considering whether could a rational person could possibly disagree with the idea that the government is best placed to decide whether extending your life is a good investment (there are European systems that are not well run which resolve this unusual ways i.e. being unable to provide basic healthcare whilst giving hundreds of millions to PR agencies, sometimes run by people who happened to work for the government...total coincidence, to run media campaigns to "prevent" ill health).
it is not simple. there are largely private systems that run very well, funnily enough most of these are in Europe. there are public systems that run very badly, again many of these are in Europe. the discussion of public vs private is largely not relevant or particularly interesting (do people think that doctors just work for free in Europe? they do not, the incentives when you try to create a cheaper healthcare system by underpaying doctors, which exists in parts of Europe, creates some very bad situations i.e. an overreliance on doctors from Africa who have unknown training, Americans tend not to have imagined the scenario where healthcare is "free"/paid with taxes but they are being operated on by someone who can't speak English).
Isn't this level of price discrimination in a round about way just a worse form of communism? If the algo decides you can pay X% of your worth for an item, and X% of my worth for the same item even though the absolute dollar amounts are different, isn't that strange?
If by this you mean that standard supply-demand economics can't model price discrimination, which is what's going on here, that's not correct. See, for example, Chapter 10 of David Friedman's Price Theory, where he models price discrimination using supply and demand curves just fine. In terms of this kind of analysis, price discrimination is a way for sellers to try to transfer as much as possible of what would otherwise be consumer surplus, to themselves.
The practice — supported by artificial intelligence and known as dynamic pricing or surveillance pricing — can lead to two consumers paying different amounts for the same item from the same retailer, at roughly the same time. If a store knows, for example, that one of those customers lives in a wealthier neighborhood, it can charge that person a higher price.
That has always happened. If you go to a flea market, do you think the seller isn't going to bump up the price if you look prosperous or desperate? Do you think the roof replacement company isn't going to make a bid based on how wealthy or poor your neighborhood looks? Or you need a new water heater? Do you think grocery stores in wealthy neighborhoods charge more?
We live in a market economy. If you don't like the price, us apes have learned to say "no".
BTW, if prices are set by the wealth of the customer, then the poor ought to be getting a better deal. Isn't that a good thing?
https://archive.is/2026.05.01-224445/https://www.nytimes.com...
Why grocery stores only? It’s also unclear how this will change anything - don’t the grocery stores in richer areas already charge more? I’ve noticed Whole Foods prices are not the same across all stores even in the same state.
You're thinking of pricing zones—shoppers in Zone A pay a different price than those in Zone B. This makes sense, for example, if shipping costs are higher in Zone B.
The bill in question is about per-shopper pricing (e.g, you and I pay different prices in the same store). This is something Lyft and Uber do, but it's not really possible in retail.
The article says loyalty programs and https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/H... makes no mention of this store restriction. Just retailer.
It’s unclear to me why transportation demand pricing is allowed but not delivery.
I expect the outcome of this to be prices raised for everyone and then loyalty discounts per group.
8 replies →
> This is something Lyft and Uber do, but it's not really possible in retail.
It is possible for retail. For example, you can simply not display the price. You can display a price range. You can use EInk displays which auto-update based on who's approaching the item.
And of course it's infinitely possible in an online store.
One example of how this is being employed is McDonalds trying to push everyone to use the app. They'll give lower prices in app while raising prices on the menu giving a "not using app" tax. That enables them to have flexible per user prices within the app. A store could do the same thing.
7 replies →
This is possible in retail, or will soon be.
Canada's major grocery chain has migrated entirely to LCD price tagging that can receive OTA updates. There are now no paper price labels in the store.
The same chains have extensive camera coverage on the entrance / exits of the store.
So pricing can be an optimization function as fine grained as persons currently in the store.
Cameras on the aisles as well can enforce that individual tags update while nobody is within 15 feet, etc.
It's hard to even talk or think about without without sounding (and becoming!) conspiratorial. Add a little data from our trusted partners and they can jack specific prices according to urgency - eg, floral bouquets when you're en route to a dance recital.
4 replies →
Price targeting can help the poor in some cases and hurt them in others. For essentials where the need to purchase is high and the provider has a semi-monopoly, dynamic pricing leaves everyone worse off. For instance, think of groceries where there is only one store nearby or medicines with only one producer.
On the other hand, for something like a Netflix subscription, price discrimination DOES tend to help the poor users out. Netflix is 10x cheaper in third world countries for the exact same product. If they were forced to charge the same price everywhere, they would just charge everyone the US price and foreign users would be left out.
Per customer pricing will squeeze every customer for every dollar they can possibly afford. The more data they have the more they can calculate the level of desperation for each purchase. If they have your message history and see your mum is dying, they can spike flight tickets for example. And they will know exactly the highest amount you can afford for it.
Price discrimination at all is not the same as individualized prices. And really the issue conflates two things: 1, privacy and surveillance pricing; 2, AI profit-maximizing.
Even if Netflix or others do price-discrimination, the AI-pricing issue would still be used to squeeze as much as possible from the poor. It's not like these blood-sucking capitalists who run these massive corporations are into helping the poor.
They charge more for everyone there. Now they are able to charge more for you
Which supermarkets have you seen doing this? This conspiracy theory about epaper tags changing their price on you falls flat when you think about it for even a moment. The tags do not update fast enough to do that, couldn’t handle multiple people in the same area, and would be impractical to link back to the purchase time, resulting in people noticing the price scanned didn’t match what they saw on the ticket.
Per customer pricing is only possible for online shopping.
Wait, isn't this prohibited already? Some of it may be a gray zone, but a good portion of it is already downright illegal in many countries, and the rest is extremely unethical.
This is like responding to symptoms and not addressing the root cause. This is something that should be fixed by supply and demand, buyers should have a choice where to buy and sellers should have a choice how to price their products.
These problems arise when dealing with a monopoly, that undermines the free market and that's a far worse systemic problem and the root cause of these issues. AI has nothing to do with it.
There is an imbalance in leverage and timing though. Dynamic pricing requires a lot of real time and historical data; companies can access and share that information easily, and you as a consumer cannot.
Even in areas with multiple competitors, they can (and do) effectively collude by getting their information through data brokers and third parties.
I don't have a solution, but we are currently very far away from a free market in general.
When the government actively decides the price of goods and services, it becomes more and more like communism. The government should instead uphold the free market and proactively prevent collusion and monopolies that threaten the free market, this is harder to do in the US because of lobbying though.
1 reply →
When I was at that tender age when many nerdy boys read and fall to Atlas Shrugged I read The Pearl by Steinbeck. Which has a passage I never forgot.
“It was supposed that the pearl buyers were individuals acting alone, bidding against one another for the pearls the fishermen brought in. And once it had been so. But this was a wasteful method, for often, in the excitement of bidding for a fine pearl, too great a price had been paid to the fisherman. This was extravagant and not to be countenanced. Now there was only one pearl buyer with many hands"
Yesterday in Lidl I was a bit shocked seeing the coupons offered by their app. They did a really good job with their mixture of stuff I had bought or might buy.
Note for people who don't know:
They profile you and offer discounts based on your past purchases
What about just setting the stores in high income areas to have higher prices?
This doesn't look like a cure for cancer like I was promised.
I'd like to see fair pricing for airlines tickets too.
use a VPN, like Bulgaria is usually good. everything is on sale if you are Bulgarian (most of the time).
you may have to text back Yes your credit card company when you get a fraud alert text - that’s about the only inconvenience. just bought US-EU return ticket for June - 22% lower than lowest price I’ve seen “from US” in the last month
I have residence in Bulgaria and I do not necessarily agree with that statement. Glad it works for you though
I assume this doesn't work with every airline / in every case? E.g., if I am booking with a US-based airline like United or American, to fly between two US cities, do they really bother to offer cheaper tickets based on your international location?
Grocery stores have smaller margins and more options compared to pretty much any industry, yet politicians seem to think they are the cause of all of our ills.
It’s just pandering to voters who don’t know better. See: price of eggs in the last election.
Rent control is the canonical populist price control. That one's evergreen. Egg-prices-by-fiat are just a fad!
No, grocery stores will be the weakest entry point to have the customer get used to get individual pricing. It's not the store owners themselves but big data businesses who do the pricing for them. Essentially taking the freedom away from the shops even further while at the same time squeezing even more money out of customers. This totally distorts supply and demand.
There is no way Walmart or Target or whoever is giving up their gold dust to some nameless SaaS for pricing. They will do it in-house. Never mind the fact that a similar aggregation attempt for the property rental market was considered actionable by the DoJ already.
Doesn't this then open a market for "vpn style" apps that make everyone look broke? Get the lowest prices (ie market/baseline) on every interaction from food delivery to airplane tickets?
That then leads to a cat and mouse chase, and in the end the big corporations will win by forcing you to tie your real identity to your shopping identity, which won’t turn off enough consumers to meaningfully impact the bottom line.
The problem isn't really turning them off as much as it is people having no choice. There aren't too many supermarket chains. If one chain does this, rather than other chains undercutting them on price, they're going to do the same to maximize their profits. Most people only have one or two stores near their home. Some maybe have three. That doesn't leave a lot of options. And if you or your family is hungry, you won't drive around for hours, burning gas, until you find a shop that saves you a few bucks. Most people will have no choice but to give in, then the practice is implemented everywhere and the price treadmill accelerates.
3 replies →
You've actually got that backwards - being wealthy makes your time and effort worth more (to you) than the half-hour you'd spend price-comparing every item in the cart for each price difference (each between $0.03 and $2.00), while being poor makes price comparisons much more worth it
Being more financially stable means you pay higher prices, in this scenario
Right, which would imply that a VPN that makes you look broke would help get you better prices.
Haha, no no no. I don't trust this to be true. Everyone will pay more or else the investment into this technology doen't break even.
Most algorithms doing this charge lower prices to the wealthy since they are more valuable customers.
Total spend is higher. And if your $20 tricket breaks you're less likely to bother to return it if $20 doesn't mean that much to you. Plus other reasons I'm sure.
They’ll require ID verification for everything. Like they are normalizing with age verification for social media
How’s that gonna work when they know your address?
Why share locked articles? Why would you do such a thing?
I think people are often just logged in for years and forget they're reading a paid resource.
Isn't the Free Market already a form of AI that does exactly that? How can you ban tools for measuring the value of things?
The ban is specifically on adjusting prices _per-consumer_ based on data known/collected/stolen/assumed about the consumer.
Which is wild, because things like car dealerships, airline tickets and many more do it already.
3 replies →
Price controls will screw over the most vulnerable consumers. Small businesses will offer lower prices to price sensitive or low-income consumers or repeat customers. Because despite what you will read about on Reddit, the owners are not cartoon characters, live in the community and care about their neighbors.
2 replies →
Why just grocery stores? Why not ban selling or purchasing our information to and from data brokers. Like for all uses.
Because this kind of price discrimination doesn’t require selling or purchasing data from data brokers. If you buy enough from Instacart, they can and do build it all in-house.
This seems sort of meaningless since supply/demand is the ultimate ai. Does this effectively mandate price controls? If so thank fucking GOD
> Merchants face fines of $10,000 for running afoul of the law, and penalties of $25,000 for repeat offenses.
Another limp-wristed penalty. Why not something like "$1,000 per dollar that you received as payment for prices in violation"? Customer buys a $5 can of beans that was AI-priced, you owe $5,000. They buy another can, you owe another $5,000. You have it set for the whole store, wham, you now owe 1,000 times your gross revenue for that day. Better damn well not do it.
Good! Surveillance pricing needs to be regulated, it distorts supply and demand massively because one party (pricing service providers, big chain stores) has a MASSIVE information advantage other the others (end customers and small shop owners). It's going to finalize the transition from a free market to a oligopoly in the retail sector. It's basically socialism for a few powerful corporations.
The end goal must be to emulate US healthcare where nobody knows what things cost and you find out only months or years after buying.
And also to eliminate all competition who doesn't have enough money to compete
No, surveillance pricing is used to get the maximum out of the customer, not the opposite. This needs to be illegal. If anything surveillance pricing will make the retail business MORE like the health care system, because the latter already employs these tactics: the unhealthier you are, the more you pay. Same thing as surveillance pricing.
It's a fundamental shift from:
"I sell this product for the cheapest price possible and I make everything possible in my business to be cost effective and buy from more cost effective businesses."
TO
"I don't care about cost-effectiveness. I just try to find out how to get the most money out of my customers."
> the unhealthier you are, the more you pay.
I'd re-write that as "the more you consume the more you pay". Seems normal.
2 replies →
Regarding US healthcare costs, I cannot understand why people are not in the streets with pitchforks. Most of Europe has this problem solved.
What is the root cause w.r.t. the current situation? Are there any obvious ways out? Do any US politicians have any plans for a change? Are there any discussed proposals how to reform?
> Most of Europe has this problem solved.
With paracetamol :)
(Dutch people know what I am talking about)
1 reply →
> What is the root cause w.r.t. the current situation?
The current US is built to accomodate the top 0.1%. Their profiteering is more important than the good health of the population.
> Are there any obvious ways out?
Not really. Get money out of politics? Aggressively tax the wealthy and nationalize the entire health apparatus? Easier said than done.
> Do any US politicians have any plans for a change?
The only ones serious about it are on the progressive left, fought harshly by both Republicans and Establishment Democrats, under the guise of their respective patrons.
the US has a bigger public healthcare system than, afaik, every European country. the reason why there aren't pitchforks is also because the US is a much richer country than Europe so people are happy to pay for more healthcare. if you are rich, the marginal value of money vs more time being alive is zero (an example is orthapedics for the elderly, the US spends a huge amount in this area relative to most European countries).
it is worth considering whether could a rational person could possibly disagree with the idea that the government is best placed to decide whether extending your life is a good investment (there are European systems that are not well run which resolve this unusual ways i.e. being unable to provide basic healthcare whilst giving hundreds of millions to PR agencies, sometimes run by people who happened to work for the government...total coincidence, to run media campaigns to "prevent" ill health).
it is not simple. there are largely private systems that run very well, funnily enough most of these are in Europe. there are public systems that run very badly, again many of these are in Europe. the discussion of public vs private is largely not relevant or particularly interesting (do people think that doctors just work for free in Europe? they do not, the incentives when you try to create a cheaper healthcare system by underpaying doctors, which exists in parts of Europe, creates some very bad situations i.e. an overreliance on doctors from Africa who have unknown training, Americans tend not to have imagined the scenario where healthcare is "free"/paid with taxes but they are being operated on by someone who can't speak English).
5 replies →
That shit is evil
Yes, and it's already in many places where possible, e.g. taxi, airlines, online stores and services, insurance, health, etc.
[dupe] https://news.ycombinator.com/item?id=47951007
[flagged]
Isn't this level of price discrimination in a round about way just a worse form of communism? If the algo decides you can pay X% of your worth for an item, and X% of my worth for the same item even though the absolute dollar amounts are different, isn't that strange?
Another attempt to repeal the Law of Supply and Demand.
Supply curves are literally predicated on one price for a market.
If by this you mean that standard supply-demand economics can't model price discrimination, which is what's going on here, that's not correct. See, for example, Chapter 10 of David Friedman's Price Theory, where he models price discrimination using supply and demand curves just fine. In terms of this kind of analysis, price discrimination is a way for sellers to try to transfer as much as possible of what would otherwise be consumer surplus, to themselves.
4 replies →
You decide if a price is worth it to you. The LSD is just an aggregation of that.
Not sure that is applicable here.
The practice — supported by artificial intelligence and known as dynamic pricing or surveillance pricing — can lead to two consumers paying different amounts for the same item from the same retailer, at roughly the same time. If a store knows, for example, that one of those customers lives in a wealthier neighborhood, it can charge that person a higher price.
That has always happened. If you go to a flea market, do you think the seller isn't going to bump up the price if you look prosperous or desperate? Do you think the roof replacement company isn't going to make a bid based on how wealthy or poor your neighborhood looks? Or you need a new water heater? Do you think grocery stores in wealthy neighborhoods charge more?
We live in a market economy. If you don't like the price, us apes have learned to say "no".
BTW, if prices are set by the wealth of the customer, then the poor ought to be getting a better deal. Isn't that a good thing?
2 replies →
Better that you stick to promoting D instead of defending price gouging.
The inevitable result of government setting prices is some combination of:
1. shortages
2. gluts
3. black markets
It doesn't matter what your or my opinion on it is, any more than having an opinion on F=ma. The Law of Supply and Demand is always in play.
There are thousands of years of history on this.
6 replies →