One of the key innovations of ride-hailing apps has been that their pricing is sensitive to demand: that is, prices go up as there are more customers demanding rides. Uber calls this surge pricing, whcih is such strong branding that people have started to call similar demand-sensitive pricing programs at other companies by the same term. Lyft calls it Prime Time, and did away with previously-announced caps on price hikes in February, but forgot to notify passengers. [More]
