Uber is well known for using a dynamic model it calls surge pricing that adjusts the cost of a fare based on supply and demand. At the time the NY attorney general Eric Schneiderman released a statement implying that Ubers surge pricing during these periods could constitute price gouging. #BREAKING: My office has reached an agreement with @Uber to cap pricing during emergencies, a thoughtful application of NY law to new #tech. — Eric Schneiderman (@AGSchneiderman) July 8, 2014
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