I wouldn't be so convinced that passengers are willing to pay these surge prices to go home. Sure, the first time a passenger encounters this artificial surge, they're already planning on taking uber/lyft home so they'll pay it because they probably don't have another option immediately available. But the next time a passenger arrives at DCA (could be a month or two), they might remember uber/lyft is expensive when they land so they would have arranged a different option to leave the airport. Consumer reaction to prices changes may not always be immediate. These drivers are operating in their own interest in the short term but who knows if they are in the long term.
100%. I fly out of DCA/IAD, and each time weigh the options of parking at the airport and taking a rideshare service. Last time I used Uber from DCA it was much more expensive than I expected, and have been parking there since.
Well, there's always the immediate option of a regular taxi!
But yes, sure, who knows, but isn't that the point the free market fundamentalists often make about price clearing? Supply and demand will somewhere theoretically clear each other and maybe it's always a dance around that spot, but in this case the drivers are using the algorithm to try to find the best price they can get for their service, rather than let Uber/Lyft determine it artificially.
I just don't understand why when capital sets the "price" of labor, it is considered free market ("No one forces anyone to drive for Lyft") even though many people literally have a choice between working or starving, which isn't much of a "free choice". But when labor tries mechanisms to find a new price, it's "collusion" and "gaming the system"
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After all, even in this, there is always room for "defectors" to take the passengers that wouldn't use the higher rate!
First time I encountered surge pricing on a return flight (almost doubled the normal fare) is when I started looking at airport parking again. I then discovered I could prepay parking (DFW) and it is 30-50% off normal rate (and several times during special promotions I only paid $6/day). On short trips Uber/Lyft would actually be more than airport parking. For a week long trip it would be comparable, but that is assuming not impacted by surge pricing again.
I still use Uber/Lyft at my destination (paying close attention to rate), but at home, never again.
