Episode 112: If you’re not already familiar with the term surge pricing, it’s likely you’ll hear a lot more about it soon. Simply put, it’s when businesses identify times when there is a high demand for their products or services — whether an Uber ride or a pint of beer — and raise prices. Anyone who has taken am introductory economics course learns that when supply of something is scarce and demand is high, prices will go up. What’s new is that technology lets those changes happen quickly and with little warning to those affected. Richard Kyte and Scott Rada discuss whether there are any ethical pitfalls around this new way of doing business.

Source: Daily Sun October 19, 2023 11:34 UTC