Paying two, three or even ten times as much as usual for a taxi ride across town sounds like a pretty crappy deal, right? But I’m sure you can imagine times when you’d be happy to pay it – times, for example, when demand is so high that it’s impossible to get a ride. And that’s the theory behind Uber, a mobile app that’s aiming to use basic economic theory to eliminate taxi bottlenecks. And as it turns out, it just might end up being better for everyone.
Read the full article: Uber: Jacking up taxi fares for the common good