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You would rather everyone at your hotel pay the same price, which is higher than most people at the hotel next door?
by Evbn 14y ago
You would rather everyone at your hotel pay the same price, which is higher than most people at the hotel next door?
- tedunangst 14y agoHuman nature is incompatible with a rational sense of fairness. Everybody could start off happy with the price they paid, but upon discovering other people are also happy, will become unhappy.
- jaggederest 14y agoMost people would rather this, yes. You have to understand that people are, despite economics, not rational maximizers. Most people would rather have a fair deal than a better deal - for example, if you offer to split "found money": split $100 with someone 90/10, they will probably turn it down, whereas if you offer to split $10 50/50, they'll probably say yes.