Re: Party boat prices
The answer to me is that it's not an economically efficient market. Bear with me a minute.
In most other markets, each participant has its own distinct cost profile. They have a rate of return that they require to deploy their resources in the market. They set prices at the optimal level to maximize their return based on those requirements, the elasticity (price sensitivity) of the demand, and the differentiation of their product (ability to charge more by having a better offering).
Head boat market doesn't seem to play by those rules. If it did, surely one captain with a lower cost profile (more fuel efficient boat?) would charge $68. A captain with a "premium" product (newer boat? stronger brand?) might charge $75.
Why exactly it operates this way is probably something that only a captain can answer. Maybe it's because they all require each other's cooperation on the grounds and don't want to be seen as undercutting each other. Maybe it's a perception that by not competing on price, everyone does better.
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