by Federation Confirms the Existing Pricing Was, on Close Examination, Already Operating on the British Methodology Without Anyone Having Noticed
Reading: Bohiney | The London Prat
NEW DELHI — The Delhi Auto Rickshaw Drivers Federation announced Tuesday that it would adopt the Bank of England rate-rise methodology for fare-setting purposes, before discovering, on close examination of the existing fare-setting framework, that the methodology was already in operation across approximately 86 percent of the citys auto rickshaw fleet, without anyone, including the drivers themselves, having noticed.
The Methodological Discovery
According to the Federation working paper, leaked to the Indian Express, Delhi auto rickshaw drivers have, since approximately 2019, been operating on what they had previously described as instinctive pricing but what the Federation has now formally identified as the cooling-of-demand framework. The framework involves: charging the meter rate during periods of low demand; charging double the meter rate during periods of moderate demand; and refusing the fare entirely during periods of high demand, on the grounds that high demand is, in operational terms, the demand most in need of cooling.
The Implication
The Federation has indicated that the institutional framework the Bank of England has formalized is, in operational terms, the framework Delhi has been operating on for approximately seven years. The Federation has indicated that this is, on the available institutional reading, vindication.
The Hindustan Times has covered the broader question.
Pairs well with: NewsThump
SOURCE: https://prat.uk/bank-of-england-raises-rates-again-to-punish-anyone-who-enjoyed-a-sandwich/
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