There is a discussion on Hacker News, but feel free to comment here as well.
In what country is it legal for restaurants to say “market price” instead of showing the prices? So I can never go there?
Where is it illegal? I’ve seen Market Price listed for various menu items across the US.
across the US
Ah, that explains it. Over here in Germany, presumably the entirety of the EU and likelu most of the world this is not allowed:
Any business offering goods or services to consumers or advertising goods or services to consumers by stating prices must state the total prices.
§ 3 (1), PAngV
Of course, this isn’t nearly detailed enough. That’s why, for restaurants etc. the following applies:
The price lists must either be clearly legible at the time of the offer, displayed on tables or presented to each guest before orders are taken and upon request when the order is settled. A price list showing the prices of the main food and drink on offer must be displayed next to the entrance to the restaurant. If the restaurant is part of another establishment, it is sufficient to display the price list at the entrance to the restaurant section.
§ 13 (2), PAngV
Just listing the menu with “market price” would violate both these paragraphs. The following exists as well:
The prices listed in the price lists in accordance with sections 1 to 3 must include the service charge and all other surcharges.
§ 13 (5), PAngV
They will tell you the price when you are there and ask or if you call the restaurant. I’ve seen Market Price listed for fish and some more rare and exotic things like alligator and rattlesnake presumably because the price to the restaurant can change or the it could be based off the weight of a lobster or something like that.
I’ve been to several countries in the EU and never seen a restaurant without explicit prices.
When I’ve seen it, the menu item was something like fish or lobster mostly, presumably because the cost to the restaurant can change as the prices as the market change and depending on the size of the fish or lobster. Otherwise, I’ve only seen it for rare/exotic meats like alligator or rattlesnake.
I mean for things like bottled water or soda, ‘market price’ should be fine. Those are commonly bought everywhere. Things available locally should mention the current price, can’t expect guests to know trends.
Even for commonly sold items this practice is harmful to the consumer:
- difficult to prove someone wrong, even if their price is higher than usual
- easy to hide a higher price (“well, the local markets we shop at…”)
- if the price isn’t higher than usual, why hide it behind this
Information asymmetry shifts the power in any economic activities, and should never be encouraged.