Forward markets in everything, restaurant edition

Jason Kottke relates:

The Riverdale Garden Restaurant in the Bronx is trying out a novel way of staying in business: they’re asking for their regulars to pledge $5000 in exchange for a year of free dinners.

The problem of course is obvious.  First, you probably won’t get your money back.  Second, if everyone paid up, the restaurant has a weaker incentive to serve good food.  And which customers do you think will receive the best treatment?  The ones who put up nothing per each meal?

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