The Bagel Salesman and Annalakshmi
Stephen Dubner of Freakonomics fame writes about a Canadian pop singer who is allowing her fans to determine the price for online music downloads. Dubner draws parallel between this and the Bagel Salesman story in Freakonomics. The Canadian pop singer example can be extended to Annalakshmi Restaurant as well. Unlike it’s Indian branch, the Annalakshmi restaurant in Singapore operates on a pay-as-you-wish basis. Although Annalakshmi doesn’t display what others paid, one gets a feeling that people generally end up paying more than what they would have otherwise paid at a regular restaurant.