In Texas, price gouging during disasters is illegal - it is also on very shaky ethical ... - 1 views
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In Houston, as millions suffered power and water outages, food shortages and subfreezing temperatures, another problem confronted families: price hikes.Steep increases in the price of food, gas and fuel have been reported across Texas. And as millions of Texans lost power, exorbitant prices were being asked for hotel rooms with power, with some climbing to US$1,000 a night.
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Disaster creates a scarcity of basic necessities; retailers and providers respond by sharply raising the price tags on sought-after commodities.
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Contrarian voices argue that price hikes are good – they provide incentives for sellers to bring extra supplies and prevent hoarding.
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