Table Scalping? Love to watch how markets arise in the economy. Whenever you see evidence of a scarce resource, whose price is being escalated by its scarcity or exclusivity, consider the implications. Here a perhaps surprising example. Via Economist M J Perry.
" .... Back before there were smartphones, reservations at the finest restaurants went to VIPs, celebrities and walk-ins carrying a wad of greenbacks to grease some palms.
But now reservations are becoming a saleable commodity, as increasing numbers of companies create apps that, in partnership with some of the top restaurants in town, hold a table for anyone willing to shell out some extra cash. ... "
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