4 ms·
>An irrelevant percent of people will choose to take the bus because their $10 ride is now $10.50. That's not how the market works at scale.
by IAmGraydon 9y ago
>An irrelevant percent of people will choose to take the bus because their $10 ride is now $10.50.
That's not how the market works at scale.
- threeseed 9y agoAnd not all markets behave the same. So pretending to know what Uber customers will do is asinine.
- hedmundson 9y agoTrue, but Uber does know, and they probably have teams of data scientists and economists optimizing the fare charge to maximize revenue. My guess is that if Uber could eliminate their losses and suffer no decrease in fares by raising rates 6%, then they would have.