Auction markets in everything

by on March 26, 2010 at 6:51 am in Economics, Food and Drink | Permalink

Daniel Lippman sends me notice of the following:

The Exchange Bar & Grill, set amid the bustling shops and pubs of the Grammercy Park neighborhood, is replete with a ticker tape flashing menu prices in red lettering as demand forces them to fluctuate.

Customers can move prices for all beverages and bar snacks such as hot wings ($7 for 6 pieces) or fried calamari ($9). The prices will fluctuate in $.25 cent increments, but will most likely plateau at a $2 change in either direction.

A glass of Guinness starts at $6 but could be pushed to a high of $8 or a low of $4, depending on popularity.

So if one drink is in heavy demand, its price will rise, causing the cost of other equivalent drinks to drop. A rush on a particular beer would increase its price, and cause other beers to drop.

It is, of course, a marketing gimmick.  Daniel also sends along a link on the new idea of eco-sex.

Evan March 26, 2010 at 8:10 am

Silly, but pretty awesome. I’m going to make it a point to go there next time I’m in NY.

But what would it be like if the price adjusted based on supply as well?

jamie March 26, 2010 at 12:41 pm

Daniel also sends along a link on the new idea of eco-sex.

Isn’t the implication that we’re already screwing the earth?

(apologies, had to be said.)

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