Comment by radicalcentrist
Comment by radicalcentrist 10 months ago
No it's not called supply and demand, it's called price discrimination. The way things should be priced is based on the value it gives the market as a whole. Anything further is an anti-competitive attempt to vacuum up more of the buyer surplus.
Price discrimination is the practice of charging different amounts to different people, according to what they're willing to pay. It's a more efficient approach than just setting a single price that clears the market. It sounds underhand, but most people like it in practice: it's the basis of most discounts and coupons.