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Honolulu Lawmakers Pass 'Surge Pricing' Cap For Ride-Hailing Companies (reuters.com)

Posted by msmash on from the speed-limit dept.

Honolulu could become the first U.S. city to limit fares ride-hailing companies can charge when demand spikes, following a city council vote on Wednesday, the Honolulu Star-Advertiser newspaper reported. From a report: Ride-hailing companies such as Uber and Lyft use a model known as "surge pricing" in which the fare for a ride rises when factors such as rush hour and bad weather increase demand for the service. The practice could be limited in the future in Hawaii's largest city after the Honolulu City Council approved by a 6-3 vote a bill requiring city officials to cap surge pricing by ride-hailing companies, the newspaper reported. For the bill to become law, however, it still needs to be signed by the Mayor Kirk Caldwell, whose administration appears to oppose the measure, Hawaiinewsnow.com reported.

4 of 105 comments (clear)

  1. Supply and demand by Anonymous Coward · · Score: 5, Insightful

    Let's repeal that pesky law of supply and demand.

    1. Re: Supply and demand by saloomy · · Score: 4, Insightful

      Any economist worth his salt knows how to create a shortage. Fix prices. If you cap surge prices, drivers won't want to deal with all the drunks at 2 am or after the game lets out. This will result in a shortage of drivers. Sure, some people would be happy to pay them more so they could have the convenience, but the government won't let them. Shitty....

    2. Re: Supply and demand by cayenne8 · · Score: 4, Insightful

      I live in cleveland. After the parade for the Cavs after they first one the championship a trip that would cost $10 was $50

      I've seen this happen from time to time here in New Orleans.

      There's always something going on here, but I don't see it as a big deal.

      I've been dining and drinking downtown and was about to leave, when I see surge pricing on Uber....last time a concert had let out of the superdome I think.

      no big deal, I just sat down back and the bar and met folks, hung out, etc....generally had fun and waited 15-20 min or so, and surge pricing went back to normal again and I was on my way.

      I figure that's the "price" you pay for not driving your own car and have to wait from time to time for someone else to do it at the price I want.

      --
      Light travels faster than sound. This is why some people appear bright until you hear them speak.........
  2. Re:Sad by Anonymous Coward · · Score: 2, Insightful

    the people will just go to regular taxis instead. that's who pushes bills like this in the first place.