In the News
Uber Surge Pricing and the Tube Strike
9th July 2015
The strike on the London Underground perhaps inevitably caused a spike in market demand for taxis among them drivers who provide services via the fast-growing taxi app Uber.
Uber employs a surge pricing model where prices rises when demand is particularly strong. Their claim is that it helps to incentivise more drivers to come on the street and thereby balance supply and demand.
- Economics
- Blog
- In the News
- Price Discrimination
- Demand
- Incentives
- Elasticity
- Price Elasticity of Demand
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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