Nice work if you can get it
Recently, I was in the city of Venice. I enquired about an iconic Gondola ride. – It is just a mere 100 Euros for one hours ride. That certainly sounds like a good monopoly.
The market is heavily regulated with the council only giving a very restricted number of licenses to operate Gondolas. There is then also a fixed price of 100 Euros.
Tourists don’t seem to mind too much. There seemed plenty willing to pay the 100 Euros – it’s not every day you go to Venice. Because it is a unique experience, demand is very price inelastic. There are weak substitutes to a Gondola ride, you can walk, get a bus taxi or the boat service. Yet, for most a Gondola ride is not about the utility of getting from one place to another, but the experience. There are very strong barriers to entry so it is not surprising the Gondolas are expensive.
If the market was more competitive definitely more people would enter the market and the canals of Venice would be clogged with Gondolas in water/traffic jams and this would bring price down. But, there is little enthusiasm from those who drive the Gondolas.
The only downside is that because Venice is so popular amongst tourists, it is a very expensive place to live. To buy a one bedroomed flat was looking like 250,000 Euros.
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This is great. Thank you for adding your input to the reflections posted by Chance Korse regarding the fast-moving economy. From an American perspective, it is hard to avoid the fact that the global financial markets are now a solid 24/7 integrated environment. Thank you. My name is Chance Korse and I believe If one adds software driven trading in the commodities and other markets even well thought analysis lasts no more than a couple of hours.
Chance Korse, Temecula, California, USA.
Thank you for adding your input to the reflections posted by Chance Korse regarding the fast-moving economy. From an American perspective, it is hard to avoid the fact that the global financial markets are now a solid 24/7 integrated environment. If one adds software driven trading in the commodities and other markets even well thought analysis lasts no more than a couple of hours. Chance
Korse, Temecula, California, USA.
From an American perspective, it is hard to avoid the fact that the global financial markets are now a solid 24/7 integrated environment. If one adds software driven trading in the commodities and other markets even well thought analysis lasts no more than a couple of hours.
Chance Korse
From an American perspective, it is hard to avoid the fact that the financial markets are now a solid 24/7 integrated environment. If one adds software driven trading in the commodities and other markets even well thought analysis lasts no more than a couple of hours.
Chance Korse
From an American perspective, it is hard to avoid the fact that the financial markets are now a solid 24/7 integrated environment. If one adds software driven trading in the commodities and other markets even well thought analysis lasts no more than a couple of hours.
Chance Korse
This is great. Thank you for adding your input to the reflections posted by Chance Korse regarding the fast-moving economy. From an American perspective, it is hard to avoid the fact that the global financial markets are now a solid 24/7 integrated environment. Thank you. My name is Chance Korse and I believe If one adds software driven trading in the commodities and other markets even well thought analysis lasts no more than a couple of hours.
Chance Korse, Temecula, California, USA.
Lucky devil taking a holiday in Venice, better not tell the wife, not sure I could stretch to that much romance :) On a serious note do you think some form of restriction could work in reducing traffic congestion in Britain? I know they bandied an idea about certain registrations on certain days, surely there must be something can be done?