NY governor signs law making the restaurant reservation black market illegal
ny.eater.com
ny.eater.com
From the linked article:
> At Ralph Lauren’s posh Polo Bar, tables have been gulped up by an Ivy League, undergrad math wiz named Alex Eisler. The sophomore at Brown University has made it a business to create phony numbers and emails to snag reservations — and resell them for a healthy profit.
So how is New York going to prosecute people like Eisler? I doubt Rhode Island is going to extradite them. What if someone in Canada does the same thing?
Your point stands for international actors.
Get a judgment in NY with or without the defendant choosing to show up, come after their assets, that kind of thing? Even if they’re Canadian, presumably they’re accepting money in dollars somewhere along the line, couldn’t a motivated attorney come after that cash flow?
The flipside complaint would have been "why are we waiting so long to fix this simple thing." Government can't win.
There are many things that are beyond supply and demand: love, sex, children. Why should restaurant reservations be any different?
Those are most definitely connected to supply and demand.
High status men get high status women, and vice versa. What do you think drives the price of a hoe? And how many children one has is often the result of willingness to pay for them.
> Why should restaurant reservations be any different?
And indeed, they aren't.
Because they are absolutely constrained by supply. Restaurants have limited space and supplies to cook.
What you are suggesting is prima facie ridiculous. Can you suggest how you could make restaurant supplies unlimited?
Why the insults over this?
Airlines/rental cars/hotels have solved this problem without legislation.
(8 points, 2 years ago, no comments) https://news.ycombinator.com/item?id=33793285
.. can't find a related right now, but you can see how when paying $2000 for a reservation you might do that.
If they wanted to end it, it would be straightforward to make the rez nontransferable.
I’m a little curious why the restaurants don’t just charge more. From my simplistic understanding of economics, this sounds like consumers are willing to pay more for it, but restaurants are letting scalpers eat the excess. There must be a reason, they know the market better than me, just curious what it is.
Scalpers just want to skim a margin off the top at peak time, and don't give a shit whether people think they've overpaid for the experience and end up skipping dessert and ranting about how mediocre it was on social media. Or indeed whether they actually sell all the reservations at all they haven't paid for, especially if the profit maximizing fee is one that leaves it half empty...
* yes, you’re right, there are six. You got me.
At least they had fun with the name. (Presumably named after the unobtainable reservation craved by the protagonist in "American Psycho".)
There might have been an after-market for these reservations where you could buy one if you want to. But now what? I guess it's just a race to call the restaurant? Or to reload their reservations page over and over again on the day they open them for the day you want? If I want to eat a Fancy Restaurant, but they are normally fully booked - what do I do now?
The folks that resell reservations like this are addressing an actual problem in the market. Perhaps you do not like that they are earning money doing so, but preventing it doesn't fix the problem either.
By extracting money from customers they people off of fine dining, which makes running restaurants harder.
Not a lot but every 0.1% matters in such a competitive industry.
One way or another, you're going to have to pay to get a reservation at a hot restaurant.
It's like under communism, where the price of bread was set by the state. The result was shortages. So the real "price" a customer would pay was how long they were willing to wait in line. Customers would then pay other people to stand in line for them.
It's not possible for government to legislate away the price.
And if you really like a restaurant enough to eat there all the time and become friendly with the staff then you can always get a reservation.
I recognize that the particular demographic that this board attracts probably doesn't like that answer. But among the general public, I'd say it's an extremely popular answer - and "addressing a problem in the market" this way looks like yet another way to make society unfair and biased to the rich, and the average person absolutely hates it. Which is why this law will have broad popular support.
But I wonder why the restaurants themselves don't sell the reservations. They're leaving cash on the table!