Abstract

By bringing desperation to so many, Hurricane Irma is revealing a sad fact about many American companies, and not just airlines: that they have come in recent years to embrace taking advantage of desperate consumers as a central part of their business models.

The practice, called dynamic pricing, is intended to ration scarce goods and services, yet, as I show in a recent paper, it primarily harms consumers by making it easier for companies to fleece them.

Document Type

Commentary

Publication Date

9-13-2017

Notes/Citation Information

Ramsi A. Woodcock, Irma Price Gouging Highlights Sad Truth: Consumer Fleecing Is the New Normal, The Conversation (Sept. 13, 2017), at https://theconversation.com/irma-price-gouging-highlights-sad-truth-consumer-fleecing-is-the-new-normal-83858.

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