The Wells Fargo Bank Tower in downtown Los Angeles displays a sign at its parking entrance that clearly shows that the per-hour parking charges are higher for people who visit the building for a short while. How is this consistent with the general concept of price discrimination?
This depicts the example of second degree price discrimination. In which two markets are segregated although the same kind of goods or services is being provided.
In case of Wells Fargo, such price discrimination would safeguard the interest of the employees of the organization because if outsiders park their vehicle in the official premises then, this could result in the shortage of parking spot.
Such a price discrimination could be beneficial for the organisation as they would earn parking revenue from the outsider. At the same time the employees would also be better off in terms of security and less congestion.
The Wells Fargo Bank Tower in downtown Los Angeles displays a sign at its parking entrance...
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