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by buro9
5277 days ago
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But this has always happened on NYE to minicab fares. In London it's almost impossible to get a black cab on NYE. Black cabs have their fares capped by regulation to something like 3x the regular fare. As such, it's not lucrative to work that night for such a small difference when they could be with their families. Minicabs on the other hand are not capped, and are largely unregulated. Many of them do work precisely because they can charge much higher rates, and they do. I once got a minicab on NYE that cost over £170 for a journey that should have cost closer to £30. Caveat emptor. What seems to be the case here isn't the market doing what the market does best (regulate supply and demand and the cost thereof), but the naivety and optimism of the consumer who hopes for cheap prices despite a severe spike in demand and a shortage in the supply able to meet the demand. The last time I needed a cab on NYE, I chose to walk the 11 miles home. I was drunk, I was singing New Order most of the way. I actually really enjoyed the walk and saved myself a lot of money in the process. I've lost my naivety around cab fares on that night. |
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