[mikeash]

I don’t think it even necessarily needs to be a large majority. It just needs to be enough such that the remaining drivers aren’t sufficient to meet demand. Depending on circumstances, that could require anywhere from one driver to all of them.

It’s a great illustration of how supply and demand work to determine prices.

[metalliqaz]

Yeah, agreed, but these guys are going for maximum rate, so they have to get as many as possible.

[mikeash]

Indeed. And as the rate grows higher, there’s ever more incentive to defect from the scheme. This should be a case study taught in Economics 101, it’s so pure and clear!

[kevin_b_er]

Well, yes. It will settle at the rate they're actually willing to be paid, not the one their "employer" is setting for them.