> There is a name for that: price gouging. No, it's called value-based pricing. Price gouging is raising prices beyond what is reasonable. For almost all pro

> There is a name for that: price gouging. No, it's called value-based pricing. Price gouging is raising prices beyond what is reasonable. For almost all products and services charging a percentage of the value that the product or service creates is completely reasonable. > What if your hospital/doctor/insurance starts doing that? Sometimes it's quite difficult or impossible to calculate the value created by a product or service and in those instances attempting value-based pricing could lead to price gouging.