Re: the rake in poker
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You cannot measure supply vs demand when the customer is unaware and clueless.
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Actually, you can. The customer doesn't have to know all (or any) of the alternative prices to be able to decide whether he finds one particular price worthwhile. Once a competetor makes his lower price more widely known, it could have an impact on demand, but the principles still apply.
It's a fairly open market, so there is little to regulate Party's rake except their motivation to make a profit. Their overhead cost is irrelevant, so there's not much hope for arguing for a "fair" rake.
That said, I hear Absolute might relocate to Cuba where their rake will be only high enough to cover food and housing costs.
-2kF
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