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That isn't what the parent said: > Detect when the customer is tired or stressed and show higher prices. Detect price conscious customers and show them lower p

That isn't what the parent said: > Detect when the customer is tired or stressed and show higher prices. Detect price conscious customers and show them lower prices. Has nothing to do with supply and demand.

dymk 8y ago
Behavioral economics would like to disagree. Supply and demand are a function of what buyers want; somebody wanting something _right now_ has been a force that markets cater to since markets have existed.
- ntsplnkv2 8y ago
  Behavioral economics isn't a law of physics, much of it is completely unproven, relying on psychology, which has a huge reproduce-ability problem. Price gouging is raising prices to greater than what is fair for the value. The amount of price raised is almost certainly to be greater than what is deemed fair in these cases from the law of supply and demand. Despite one person demanding it more, one person may be demanding it less, who is "more price conscious." Demand doesn't change in that scenario.' It's one thing to cater to someone coming in, looking in a rush, verses spying on them in their own home and offering them products. If this is the world we're going to, I can only hope I'm not in it.
  - jhall1468 8y ago
    > The amount of price raised is almost certainly to be greater than what is deemed fair in these cases from the law of supply and demand. That's not true. Price gouging is a term thrown around a lot, but generally it refers to drastically increasing prices when supply takes a sudden hit (due to natural disaster, often). > verses spying on them in their own home and offering them products. Spying on them? Are you joking? They are on Amazons website. How in the world is that spying? Man, more and more Hacker News is starting to sound like reddit.
    - ntsplnkv2 8y ago
      "Price gouging is a pejorative term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent." There are classic examples as you mention - with regards to natural disasters. > Spying on them? Are you joking? They are on Amazons website. How in the world is that spying? Man, more and more Hacker News is starting to sound like reddit. Perhaps you're the redditor - this is talking about Amazon Alexa listening in and judging what mood the person is on. Did you not read at all? Please, reread, try real hard to follow, instead of spouting your nonsense on here.
      - dang 8y ago
        The parent comment stepped into incivility, but you've jumped into personal attack. We ban accounts that do that. If you'd please review https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and follow the rules from now on, we'd appreciate it.
shogun21 8y ago
It has to do with demand.
- ntsplnkv2 8y ago
  If it is that granular it can't have any impact on demand. While one person might be moody and more like to demand said product, another could be more rational and need more incentives to buy said product - hence nothing actually changes, and the mean is what will be used. The impact on demand at that given time will need to be compared to the value. Trust me, it won't be equivalent.

dymk 8y ago

Behavioral economics would like to disagree. Supply and demand are a function of what buyers want; somebody wanting something _right now_ has been a force that markets cater to since markets have existed.

ntsplnkv2 8y ago
Behavioral economics isn't a law of physics, much of it is completely unproven, relying on psychology, which has a huge reproduce-ability problem. Price gouging is raising prices to greater than what is fair for the value. The amount of price raised is almost certainly to be greater than what is deemed fair in these cases from the law of supply and demand. Despite one person demanding it more, one person may be demanding it less, who is "more price conscious." Demand doesn't change in that scenario.' It's one thing to cater to someone coming in, looking in a rush, verses spying on them in their own home and offering them products. If this is the world we're going to, I can only hope I'm not in it.
- jhall1468 8y ago
  > The amount of price raised is almost certainly to be greater than what is deemed fair in these cases from the law of supply and demand. That's not true. Price gouging is a term thrown around a lot, but generally it refers to drastically increasing prices when supply takes a sudden hit (due to natural disaster, often). > verses spying on them in their own home and offering them products. Spying on them? Are you joking? They are on Amazons website. How in the world is that spying? Man, more and more Hacker News is starting to sound like reddit.
  - ntsplnkv2 8y ago
    "Price gouging is a pejorative term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent." There are classic examples as you mention - with regards to natural disasters. > Spying on them? Are you joking? They are on Amazons website. How in the world is that spying? Man, more and more Hacker News is starting to sound like reddit. Perhaps you're the redditor - this is talking about Amazon Alexa listening in and judging what mood the person is on. Did you not read at all? Please, reread, try real hard to follow, instead of spouting your nonsense on here.
    - dang 8y ago
      The parent comment stepped into incivility, but you've jumped into personal attack. We ban accounts that do that. If you'd please review https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and follow the rules from now on, we'd appreciate it.

shogun21 8y ago

It has to do with demand.

ntsplnkv2 8y ago
If it is that granular it can't have any impact on demand. While one person might be moody and more like to demand said product, another could be more rational and need more incentives to buy said product - hence nothing actually changes, and the mean is what will be used. The impact on demand at that given time will need to be compared to the value. Trust me, it won't be equivalent.