Clearinghouses are hard to organize in a hurry: volunteer medical workers in NYC

Many healthcare workers are willing and able to come to New York to help with the shortages that Covid-19 has created there.  But existing staffing marketplaces seem to be the avenue by which many of them are in fact matched.

The NY Times has the story:

Volunteers Rushed to Help New York Hospitals. They Found a Bottleneck.
When New York called for volunteers to help fight the coronavirus, 90,000 people responded. The hard part? Getting them into hospitals.

"Ms. Strickland, a former pediatric intensive care unit nurse in High Point, N.C., spent hours trying to submit her volunteer application online, and then emailed city and state representatives. She never heard back.

"Frustrated, she reached out directly to Mount Sinai Queens hospital in New York City. A manager told her to use a private recruiting agency, which the hospital had used for years to bring in temporary staff.

"Within two days, Ms. Strickland, 47, received her assignment. She started this week in the hospital’s emergency department, making about $3,800 a week for three 12-hour shifts instead of doing it for free, as she had initially wanted.
...
"As of Wednesday, more than 90,000 retired and active health care workers had signed up online to volunteer at the epicenter of the pandemic, including 25,000 from outside New York, the governor’s office said.
...
"New York City hospitals have only deployed 908 volunteers as of Wednesday, according to city health officials.

"The urgent need for medical personnel is colliding head-on with the immovable bureaucracy of hospital regulations
...
"State officials said the volunteer portal, which was built from scratch, was initially overwhelmed by the response, but has since connected about 10,000 volunteers to hospitals in New York State within two weeks.
...
"The challenge of screening so many medical workers has opened an opportunity for the dozens of established private agencies that place temporary nurses and doctors at hospitals nationwide
...
"The staffing agencies, an $18 billion industry, say that unlike the state, they already have the technology and infrastructure in place to quickly check credentials for health professionals. In normal times, hospitals hire them to fill short-term staffing needs, such as during a regular flu season.

“As great as it is that the state is trying to help, it’s a very complex process to staff a clinician,” said Alexi Nazem, chief executive of Nomad Health, a health recruiting agency based in New York. “There are dozens of documents to verify. Our company has spent years building those systems.”
...
"New York City’s public hospitals had used private recruiters to bring in about 3,600 new medical workers as of late last week and were seeking to hire 3,600 more, according to the mayor and a city spokesman.

"One of those recruiting agencies, NuWest Group, began contracting with the city less than two weeks ago. Since then, the agency has secured hundreds of nurses and respiratory therapists for city hospitals, with some positions paying more than $10,000 a week, a spokeswoman for the agency said.

"Agencies, who negotiate the rates with hospitals, say that without the high pay, there would not be enough qualified clinicians willing to take jobs at the front lines
...
"Hospital staff members say they are grateful for any reinforcements, but some residents and nurses have expressed frustration over the pay disparities."

Hoarding, price gouging, and backlash in the time of corona virus--updated

The NY Times has the story (followed by an update):

He Has 17,700 Bottles of Hand Sanitizer and Nowhere to Sell Them
Amazon cracked down on coronavirus price gouging. Now, some sellers are holding stockpiles of sanitizer and masks.
By Jack Nicas

"On March 1, the day after the first coronavirus death in the United States was announced, brothers Matt and Noah Colvin set out in a silver S.U.V. to pick up some hand sanitizer. Driving around Chattanooga, Tenn., they hit a Dollar Tree, then a Walmart, a Staples and a Home Depot. At each store, they cleaned out the shelves.

"Over the next three days, Noah Colvin took a 1,300-mile road trip across Tennessee and into Kentucky, filling a U-Haul truck with thousands of bottles of hand sanitizer and thousands of packs of antibacterial wipes, mostly from “little hole-in-the-wall dollar stores in the backwoods,” his brother said. “The major metro areas were cleaned out.”

...

"Mr. Colvin said he had posted 300 bottles of hand sanitizer and immediately sold them all for between $8 and $70 each, multiples higher than what he had bought them for. To him, “it was crazy money.” To many others, it was profiteering from a pandemic.

"The next day, Amazon pulled his items and thousands of other listings for sanitizer, wipes and face masks. The company suspended some of the sellers behind the listings and warned many others that if they kept running up prices, they’d lose their accounts. EBay soon followed with even stricter measures, prohibiting any U.S. sales of masks or sanitizer.
**********

And here's the update:

The Man With 17,700 Bottles of Hand Sanitizer Just Donated Them
A Tennessee man had planned to sell his stockpile at marked-up prices online. Now he is under investigation for price gouging.

"On Sunday, Amazon and eBay suspended him as a seller, which is how he has made his living for years. The company where he rented a storage unit kicked him out. And the Tennessee attorney general’s office sent him a cease-and-desist letter and opened an investigation.

“We will not tolerate price gouging in this time of exceptional need, and we will take aggressive action to stop it,” Attorney General Herbert H. Slatery III of Tennessee said in a news release.

"Tennessee’s price-gouging law prohibits charging “grossly excessive” prices for a variety of items, including food, gas and medical supplies, after the governor declares a state of emergency. The state can fine people up to $1,000 a violation."
************

Here are all my posts on price gouging

Repugnance and risk perception in paid clinical trials, by Leuker, Samartzidis, Hertwig and Pleskac

In PLOS One, a new paper on repugnance and risk perception:

When money talks: Judging risk and coercion in high-paying clinical trials
Christina Leuker ,Lasare Samartzidis,Ralph Hertwig,Timothy J. Pleskac
Published: January 31, 2020

Abstract
Millions of volunteers take part in clinical trials every year. This is unsurprising, given that clinical trials are often much more lucrative than other types of unskilled work. When clinical trials offer very high pay, however, some people consider them repugnant. To understand why, we asked 1,428 respondents to evaluate a hypothetical medical trial for a new Ebola vaccine offering three different payment amounts. Some respondents (27%) used very high pay (£10,000) as a cue to infer the potential risks the clinical trial posed. These respondents were also concerned that offering £10,000 was coercive— simply too profitable to pass up. Both perceived risk and coercion in high-paying clinical trials shape how people evaluate these trials. This result was robust within and between respondents. The link between risk and repugnance may generalize to other markets in which parties are partially remunerated for the risk they take and contributes to a more complete understanding of why some market transactions appear repugnant.

Shrouded prices for blood tests in the U.S.

One of the features of the American health care system is that prices are heavily shrouded--insurance companies reach negotiated prices with providers, that may be very different with different providers, and very different from list prices, and are not quoted. So prices aren't nearly as informative in health care as in most other markets.

Here's a NYT story that focuses on blood tests:

They Want It to Be Secret: How a Common Blood Test Can Cost $11 or Almost $1,000
Huge price discrepancies like that are unimaginable in other industries. Also unusual: not knowing the fee ahead of time.

Big game hunting for a fee, and conservation

The Washington Post has the story, which reports expressions of both repugnance and support:

A U.S. trophy hunter paid $110,000 to kill a rare mountain goat in Pakistan

"American hunter Bryan Kinsel Harlan poses with an Astore markhor, a mountain goat found in the Himalayan ranges of Pakistan, India and Afghanistan, that he killed this month as part of a conservation program. Harlan paid $110,000 to shoot the goat, with the funds to be distributed to impoverished residents in the goats' habitat areas. (Tabarak Ullah)"

Pharma pricing, and the secondary market for diabetes test strips

The NY Times has the story on the gray market for diabetes test strips:

The Strange Marketplace for Diabetes Test Strips

"Test strips are a multi-billion-dollar industry. A 2012 study found that among insulin-dependent patients who monitor their blood sugar, strips accounted for nearly one-quarter of pharmacy costs. Today, four manufacturers account for half of global sales.

"In a retail pharmacy, name-brand strips command high prices. But like most goods and services in American health care, that number doesn’t reflect what most people pay.

"The sticker price is the result of behind-the-scenes negotiations between the strips’ manufacturer and insurers. Manufacturers set a high list price and then negotiate to become an insurer’s preferred supplier by offering a hefty rebate.
...
"For a patient testing their blood many times a day, paying for strips out-of-pocket could add up to thousands of dollars a year. Small wonder, then, that a gray market thrives. The middlemen buy extras from people who obtained strips through insurance, at little cost to themselves, and then resell to the less fortunate.

"That was the opportunity that caught Chad Langley’s eye. He and his twin brother launched the website Teststripz.com to solicit test strips from the public for resale. Today they buy strips from roughly 8,000 people; their third-floor office in Reading, Mass., receives around 100 deliveries a day.

"The amount the Langleys pay depends on the brand, expiration date and condition, but the profit margins are reliably high. For example, the brothers will pay $35 plus shipping for a 100-count box of the popular brand Freestyle Lite in mint condition.

"The Langleys sell the box for $60. CVS, by contrast, retails the strips for $164.
...
"While some resellers use websites like Amazon or eBay to market strips directly to consumers, the biggest profits are in returning them to retail pharmacies, which sell them as new and bill the customer’s insurance the full price.
...
“Test strips are basically printed, like in a printing press,” said David Kliff, who publishes a newsletter on diabetes. “It’s not brain surgery.”

"He estimated the typical test strip costs less than a dime to make."

Insuring your whiskey collection

A word to the financially prudent: don't forget to insure your whiskey collection.
Bloomberg has the story, about American International Group Inc.’s private client group.

What the Rise in Whisky Insurance Tells Us About the Super Rich
AIG’s head of global collections sees younger generations eschewing the collectibles of their forebears.

“Whisky collectors now number in the many hundreds, closing in on 1,000 individual collectors of all stripes and values,” says Fiamma of AIG customers highlighting whisky within their insured collection. “When auction houses are holding two or three whisky auctions a year, with some whisky going for a million or half a million dollars, clearly it warranted attention.”

Bride price in rural China

The Washington Post has a story about efforts to cap rising bride prices in one Chinese rural town:

The ‘bride price’ in China keeps rising. Some villages want to put a cap on it.

"The new rule was taped onto doorways around town: Officials were limiting what a groom-to-be could pay for a bride.

"The going rate was about $38,000, or five times the average annual salary in this village about four hours outside of Beijing. Now, families were told to keep it below $2,900.

"Anything more and they would risk being accused of human trafficking.

"The “bride price” — cash, and possibly a house or other goodies to the bride-to-be’s parents — has been part of the marriage pact in most of China for centuries. The costs, though, are swelling as China copes with one of the biggest demographic imbalances in history."

Ticket scalping in Hong Kong

I don't know how big of an issue it is, but this story on ticket scalping was prominently displayed in the South China Morning Post the other day:

 Touts snap up tickets as Hong Kong fans queue overnight for chance to see Dayo Wong.  Scalpers operating in city despite leader’s promise to crack down on practice, which leaves fans facing exorbitant fees

"The promise by Hong Kong’s leader to clamp down on the black market for show tickets appears to have done little to deter the city’s ticket touts."

Debt traps and money lending

Credit for poor borrowers is a subject of importance in both the developing and developed world. Here's a new paper...

Debt Traps? Market Vendors and Moneylender Debt in India and the Philippines

Dean Karlan, Sendhil Mullainathan, Benjamin N. Roth

NBER Working Paper No. 24272
Issued in February 2018
NBER Program(s):Development Economics, Law and Economics, Productivity, Innovation, and Entrepreneurship 

A debt trap occurs when someone takes on a high-interest rate loan and is barely able to pay back the interest, and thus perpetually finds themselves in debt (often by re-financing). Studying such practices is important for understanding financial decision-making of households in dire circumstances, and also for setting appropriate consumer protection policies. We conduct a simple experiment in three sites in which we paid off high-interest moneylender debt of individuals. Most borrowers returned to debt within six weeks. One to two years after intervention, treatment individuals were borrowing at the same rate as control households.

How banks support payday lenders and check cashing services by dissing their low income customers

Here's a story from the WSJ that I found disturbing (and which helps explain why many people choose to be "unbanked" and to patronize high-priced non-bank financial services):

Bank of America: No More Free Checking for Customers With Low Balances
eBanking customers switched into accounts that typically require direct deposit or a minimum balance to avoid $12 monthly fee

"Bank of America Corp. has eliminated a free checking account popular with some lower-income customers, requiring them to keep more money at the bank to avoid a monthly fee.

"This month, all remaining eBanking customers with the Charlotte, N.C., lender were switched into accounts that charge a $12 monthly fee unless the customer has a direct deposit of $250 or more or a minimum daily balance of $1,500. Some eBanking customers were switched over as early as 2015.

"Banks have long grappled with how to charge customers for basic checking services. The accounts are costly for banks to maintain, though they do bring in revenue through overdraft and other fees."
**************

Some previous posts about the other part of this market:

Friday, November 3, 2017

Payday lending and check cashing

Thursday, January 22, 2015

Payday loans

High frequency ticket buying, by scalper bots

Freakonomics asks Why Is the Live-Event Ticket Market So Screwed Up?

They talk to a bunch of good economists.  Here's Eric Budish on the subject of why it's odd that tickets are "underpriced," in the sense that it's profitable for software bots to buy them up before the humans can get in the act, and then resell them...

"BUDISH: That’s competition on — to an economist — a strange dimension: competition on speed rather than price; that’s the connection to my stuff on high-frequency trading. It’s competition, but it’s not a productive form of competition."

Read (or listen) to the whole thing at the link.

Payday lending and check cashing

In the WSJ:
The Hand-to-Hand Combat to Save Payday Lending
Payday lenders and consumer advocates fuel letter-writing campaigns ahead of the introduction of regulatory oversight

"Florida payday lender Amscot Financial Inc. in the summer of 2016 rounded up about 600,000 letters from customers protesting a regulator’s plan to clamp down on high-interest loans. The letters, many handwritten, were scanned, packed in 131 cartons and shipped to Washington.

The unusual campaign by Amscot was part of a fight between the payday industry and consumer advocates to try to sway the Consumer Financial Protection Bureau, which is expected in the coming days to introduce federal oversight of the $38.5 billion industry.

Payday loans are used by an estimated 10 million to 12 million Americans every year, many of whom live paycheck to paycheck. The loans are typically a few hundred dollars and due in two weeks, or on the borrower’s next payday. Their annualized interest rates, which can rise to nearly 400%, have long troubled regulators.

The CFPB rule would supplement a mishmash of state rules. It would likely require lenders to assess borrowers’ ability to repay and make it harder to roll over loans, a lucrative part of the business. The practice, where customers take out new loans to repay old ones, often leads to snowballing fees. Lenders say such requirements would wipe out the market for short-term payday loans."
...
"The CFPB’s payday rule is among a handful of recent regulations that generated millions of comments. In recent years, the Environmental Protection Agency’s rule to curb carbon emissions from power plants drew 4.3 million comments. The “net neutrality” plan governing internet-service providers attracted more than 22 million comments."

Hurricanes and price gouging (and watermelon)

Accusations of price gouging don't just concern food and water and plywood and gasoline: nowadays we evacuate by airplane as well. But last minute bookings are always expensive...

Airlines Face Criticism Amid Irma Price-Gouging Complaints
"Florida residents have been logging their compaints about unfair pricing of items like water and gasoline, along with airfares, with the office of Pam Bondi, the attorney general of Florida. There have been more than 7,000 since Monday, the attorney general said on Friday.

In their letter to Transportation Secretary Chao, Senators Blumenthal and Markey wrote:

“Airlines certainly have a right to a reasonable return for services rendered and vagaries in pricing are to be expected; but airlines have no right to impose exorbitant, unfair prices on Americans simply trying to get out of harm’s way.”

Florida Representative Charlie Crist also wrote a letter to Ms. Chao, calling for an investigation of United Airlines after receiving several complaints over airfare increases.

...

"“If there’s any gouge, it’s just the last minute walk-up airfares that are designed for desperate business fliers,” Mr. Hobica said. “It’s just the computer programs doing what they do when it’s last minute and seats are scarce.”

Delta, the target of the initial viral complaint, has denied changing its pricing structure leading up to Irma’s arrival and has capped its one-way fares out of South Florida at $399 through Sept. 13 (other airlines like JetBlue lowered one-way fares to as low as $99.) "

***********
I've never been able to track down if it's a true story, but I've heard over the years of some hurricane in which people both lined up to buy some essential good at a very high price, and then clapped when the police showed up to arrest the purveyors for price gouging and confiscate the goods.
Stephanie Wang points me to this second or third hand account, where the good in question is ice.

They Clapped: Can Price-Gouging Laws Prohibit Scarcity?

*********
Here are two recent articles, con and pro on raising prices in an emergency (they both have a picture of empty shelves...)

Memo to economists defending price gouging in a disaster: It's still wrong, morally and economically  by Michael Hiltzik

Price Gouging Can Be a Type of Hurricane Aid
Higher prices can help resources get to the people who need them most.
by Tyler Cowen

**********
Of course, not all accusations of price gouging arise from emergencies. Consider the watermelon. The Jordan Times has the story:
Petra diner closed temporarily for ‘overpricing melon’  Photo of fat bill goes viral, triggers anger, mockery

"AMMAN — The Petra Development and Tourism Region Authority (PDTRA) on Wednesday decided to extend the closure of a tourist restaurant over an over-priced bill of a watermelon.

"A photo of the bill went viral on social media sites, triggering both angry reactions and mockery.

"PDTRA President Mohammad Nawafleh told The Jordan Times on Thursday that the restaurant, whose rent contract had already expired on July 15, will be closed for two months for selling a water melon for an unreasonably high price and serving food items that are not listed on its menu.
...
"Commenting on the issue, Tourism Expert Sami Hasanat said that such overpricing would harm the “already deteriorating” sector in the Kingdom.

"Authorities have to ensure that prices are always within the “reasonable” levels, as prices would affect the turnout of tourists, added Hasanat, a former MP."

Uber, surge pricing, and how much battery life is left in your phone (they know)

The Telegraph has the (scary) story, after chatting with Keith Chen: Uber knows customers with dying batteries are more likely to accept surge pricing

"The car-hailing service Uber can detect when a user’s smartphone is low on battery, and therefore willing to pay more to book a ride.

Uber, which has faced the ire of London’s tax drivers since launching in the capital in 2012, can tell when its app is preparing to go into power-saving mode, although the firm says it does not use this information to pump up the price.

Keith Chen, head of economic research at Uber, told NPR that users are willing to accept a “surge price” up to 9.9 times the normal rate, particularly if their phone is about to die.

“One of the strongest predictors of whether or not you’re going to be sensitive to surge… is how much battery you have left on your cellphone,” he said.

“We absolutely don’t use that to push you a higher surge price, but it’s an interesting psychological fact of human behaviour.”
**********

Here's a paper by Chen and Sheldon: Dynamic Pricing in a Labor Market: Surge Pricing and Flexible Work on the Uber Platform

Discriminatory pricing for discriminatory services

I remember initially being surprised that security lines at airlines would be shorter for higher fare travelers, but Americans are getting used to class distinctions. The NY Times has this story, focused on cruise ships: In an Age of Privilege, Not Everyone Is in the Same Boat: "Companies are becoming adept at identifying wealthy customers and marketing to them, creating a money-based caste system."

"In theory, according to Steve Tadelis, a professor of economics at the Haas School of Business at Berkeley, “when an industry is able to create a richer line of products for people looking to spend their money, that makes everybody happier. But getting it right in reality is very, very hard.”

"As companies separate their clientele, a debate has developed over just how obvious the distinctions should be. Some experts, like David Clarke, who works with leisure industry giants as a principal at PricewaterhouseCoopers, say that it is best to be open about what amounts to a money-based caste system.

“It’s about transparency,” he said. “What customers hate is when you’re trying to hide stuff and are not being honest with them.”

"Many companies, though, have discovered that offering ordinary customers just a whiff of the rarefied air can actually enhance the bottom line, even if it stirs a certain amount of envy and resentment.
...
"Even though this kind of pampering might be good for business, and delight those on the right side of the velvet rope, the gap between the privileged and the rest may ultimately leave everyone feeling uneasy, said Barry J. Nalebuff, a professor of management at Yale.

“If I’m in the back of the plane, I want to hiss at the people in first class,” said Mr. Nalebuff, who has advised many Fortune 100 companies. “If I’m up front, I cringe as people walk by.”

Uber, surge pricing, and the Red Cross

Uber, faced with criticism that it raised prices in Sydney during an emergency, but wanting to keep drivers incentivized to be available when needed, has announced that in such cases it will charge high prices but donate its share to the Red Cross: PARTNERSHIP WITH AMERICAN RED CROSS TO SUPPORT CITIES AND CITIZENS DURING DISASTERS

"Uber is proud to announce a national partnership with the American Red Cross to help cities and citizens during disasters. The partnership took effect last week as this season’s first tropical storm, Arthur, developed.

Uber is partnering with the American Red Cross1 to help communities’ disaster relief efforts.

• During disasters and relevant states of emergency, Uber is committing to donate its commissions on surge trips to the American Red Cross.
• That means that for trips with elevated pricing, 20% of the total fare will be donated to the American Red Cross’ disaster relief efforts.
• Uber will also support ongoing community events like blood drives and donation drives with safe, affordable and reliable transportation options for American Red Cross’ volunteers and participating community members."

************

 HT Carmen Wang

Payday loans

The NY Times has a discussion of payday loans, and whether and how they might be regulated. (See also my previous posts on payday loans.)

The Allure of Easy Money

INTRODUCTION

Kevin J. Miyazaki/Redux for the New York Times

In his State of the Union address, President Obama presented a series of initiatives aimed at the middle class and the growing income inequality in the United States.

One thing on the minds of many working-class Americans is greater federal regulation of payday loans, the small, short-term high-interest loans that are currently under state jurisdiction. Critics of payday loans say they lead to a cycle of ballooning debt for consumers, who can rarely afford to pay them back and must take out more loans to stay afloat. But payday lenders say that strict rules would eliminate the industry and with it, the only viable lending option for people with bad credit.

Should payday loans be federally regulated?

READ THE DISCUSSION »

DEBATERS

• 

  Help Level the Playing Field for Desperate Borrowers

  VALERIE WILSON, ECONOMIC POLICY INSTITUTE
  Ban predatory interest rates. Make borrowers account for the ability to repay. Limit duration of debt and restrict lenders’ access to bank accounts.
• 

  Don’t Restrict Access to Credit

  DENNIS SHAUL, COMMUNITY FINANCIAL SERVICES ASSOC.
  Regulation already exists for legitimate payday lenders. In more than 30 states, there are already strict limits on loan amounts, fees and rollovers.
• 

  One Size Won’t Fit All

  LISA SERVON, PROFESSOR OF URBAN POLICY
  Research about whether these loans are helpful or harmful is inconclusive, and most of it lumps all borrowers together.
• 

  Regulations Can Help Improve the Market for Borrowers

  RAJ DATE, INVESTOR
  Technological innovations will draw customers who use payday loans to cheaper products, like credit cards and installment loans, that better meet their needs.
• 

  End Predatory Practices

  GARY KALMAN, CENTER FOR RESPONSIBLE LENDING
  New rules must keep predatory lenders from pushing consumers into increased risk of losing bank accounts, their foothold into the mainstream financial system.
• 

  Let Banks and Nonbanks Play by the Same Rules

  JAMIE FULMER, ADVANCE AMERICA
  The Consumer Financial Protection Bureau must establish consistent guidelines for the entire marketplace, creating healthy competition.

Can high pay be coercive and repugnant?

Sandro Ambuehl* will be presenting this paper at the AEA meetngs today:

More Money, More Problems? Can High Pay be Coercive and Repugnant?
By SANDRO AMBUEHL, MURIEL NIEDERLE, AND ALVIN E. ROTH

"Sometimes two people would voluntarily agree to transact a good or service for compensation, but an unaffected third party would prefer to prevent this transaction. Paid kidney donation, surrogate motherhood, prostitution, and paid participation in medical trials are examples.  We use a vignette study to explore how respondents' assessments of such repugnant transactions change as we alter the seller's compensation. We then sketch a model of how people judge the morality of such transactions."


*You'll have to wait until next year to hire him.

Uber apologizes to Sydney for surge pricing during the Sydney Siege

Ben Greiner writes from down under:

Here is something interesting, I am not sure if you followed the story. During the Sydney Siege last week, when companies closed down their offices and sent people home, Uber's price mechanism kicked in and raised Uber cab prices to get out of the city to as much as $200. People found that very repugnant, even though Uber argued that the high prices would increase cab supply when it was needed in such difficult moments ... Anyway, Uber just sent below email to its customers about 2 days ago.

Here is also an article arguoing that in general people do not like variable pricing.
http://www.vox.com/2014/12/15/7394323/uber-surge-pricing-psychology

Cheers from Sydney

/ben

---------- Forwarded message ----------
From: David at Uber Sydney <supportsydney@uber.com>
Date: Wed, Dec 24, 2014 at 9:34 AM
Subject: An apology
To: bgreiner.mail@gmail.com

The events of last week in Sydney were upsetting

AN APOLOGY FROM UBER SYDNEY The events of last week in Sydney were upsetting for the whole community and we are truly sorry for any concern that our process may have added.  Our priority was to help get as many people out of the CBD safely in the midst of a fast-moving event. The decisions we made were based only on helping to achieve this but we communicated this poorly, leading to a lot of misunderstanding about our motivations. Surge pricing is algorithmic and kicks in automatically when demand for rides outstrips the supply of cars that are on the road. This encourages more drivers to the area where people are requesting rides. As an increasing number of people were requesting rides that morning in the CBD, surge pricing came into effect automatically and this is when you might have seen higher prices. We didn't stop surge pricing immediately. This was the wrong decision. We quickly reversed course and provided free rides to people needing to leave the CBD. In the end, no rider was charged to leave the CBD on Monday and all higher fares resulting from surge pricing earlier in the day were fully refunded. It's unfortunate that the perception is that Uber did something against the interests of the public. We certainly did not intend to. We will learn from this incident and improve as a result of this lesson. Uber is committed to ensuring users have a reliable ride when they need it most - including and especially during disasters and relevant states of emergency. We take our community commitment very seriously in the 250+ cities Uber serves around the globe. Please know that we have listened to the feedback and we are working to standardise a global policy to ensure we're serving communities in the most efficient, effective and helpful way possible at all times. Our thoughts and prayers remain with the victims' families, those that were injured and the Sydney community of which we are so proud to be a part. Have a happy holidays,  David and the team at Uber Sydney