How does Pay-Co-You-Wannt work?

The price system you want is a model used by several types of businesses. Instead of accounting the set price for items, the company allows customers to pay any amount they consider to be appropriate. The customer could decide to pay much more than the usual price, or nothing at all. Despite the financial risk, businesses usually depend on the generosity and justice of customers. Many use them to collect payments. An example of this concept is a box for proposed gifts, commonly observed in some museums and parks.

Strategy paid for what you want in cities like Berlin and London since 1999. The US has been introduced in Salt Lake City in Utah in 2003. The apparent impulse for the Utah Restineing price system was to raise awareness of food value to avoid wasting and promising local and organic products. Practice has encountered a certain success soon, but it is not in a sustained run. Since then, some other organizations have been using the paycheck as Experimental concept.

Pay-what-you-wannt polities were somewhat less effective in restaurants and healthcare providers than in other areas. They have achieved greater success with digital products such as movies and video games. In 2007, for example, the Radiohead band offered their new album as an online download using Pay-What-You-Wannt, leading to a large number of sales.

Some economists argued that the disposable album downloads differ from a potentially repetition of a restaurant where the customer could feel pressure to pay for a certain amount to feel charity. In addition, any financial losses that the band could have suffered could be replaced by an increase in publicity. For example, several other established musicians were able to give give away albums for free and still sell their concert data.

more often than not, companies tend to lose money when they implement a systemm paid system. Another disadvantage is that some people are uncomfortable with the feeling that they have to replace or negotiate a price with sellers. Many of them would rather know what the price is and paid it without feeling that they paid too much or too little.

However, others say that the use of paid systems and honor is more cost -effective for businesses because they may not actively monitor its patrons. Many people also feel that the paid you want can also benefit charity organizations. According to some studies, scientists have found that this concept is more successful when consumers were told that some of their contributions would go to charity. Whether in the sense of shared social responsibility or desire to be perceived as a charity individual, most patrons in this situation pay for the product for the product than they would otherwise spend.