After recent attacks in London, many complained about the prices rising in the vicinity of the attacks:
There is no dispute that Uber prices were elevated in London around the time of the attack, which police say started just after 10 P.M. local time. This is because the company uses a system called “dynamic pricing”, which increases or decreases the price of a journey based on algorithms that analyze the intensity and volume of demand for Uber cars in a given geographical area.
From an oversimplified point of view, if the demand for its services increases very much within a time frame, raising the prices seem like a natural thing to happen as the offer cannot satisfy the demand.
Practically, severely limiting the price does not mean that more clients will get a drive, only that the fastest to book (first-come, first-served). So, all late callers will have a denial of service.
Question: Can Uber be forced to limit or even not use its dynamic pricing algorithm?