Surge pricing or gouging?

I thought there are laws that prevent price gouging e.g. during a massive storm or power outage Walmart can't up their prices 10X due to the situation. Again, I think there is a law, I can be wrong.

Now, wth is surge pricing...when more ppl come at that time you jack the prices up.
I saw the spokesperson for one of the cab companies said even though city council approved it (to compete with Uber) they will not do it.
The example was when the Go Train or TTC subway outage the cabs can jack up their rates.

I heard Cineplex wants to implement surge pricing also.

I guess we renamed gouging with surging...lol

Bag of milk at the grocery store at 8 am is $5 and at 6pm increased to $10.
hmm the dairy farmers should do what the gas companies do, increase the price for products already delivered since the price of products currently being created costs more.

Gouging is gouging....is theft.

Riceburner said:

Gouging is gouging....is theft.

Click to expand...

Nothing wrong with it in my opinion people who can afford to will pay more people who don't want to pay as much will wait until later. Same as a fastlane pass at wonderland.

The thing is...prices will only ever be increased to what the market will bare. The sad part is many people don't think of this, and therefore Uber could charge what they want and most will pay. If suddenly ridership dropped, they would be forced to lower surge amounts so that people are booking rides again.

Personally I think the cab companies are being smart if they won't surge like Uber...makes them look like the good guys, and they'll take it in during big events if people are willing to wait a little longer for a cab at a much lower price.