Alcohol

Too Drunk to Fail: NYC Bar Teaches Econ

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buy low and sell drunk

Bottoms up for econ! A new bar in Manhattan will offer drinks at prices set by an internal market.

What's the value of a pint of beer? Let the market decide, says a new restaurant in Manhattan where prices for food and beverages will fluctuate like stock prices in increments according to demand.

Customers can move prices for all beverages and bar snacks such as hot wings ($7 for 6 pieces) or fried calamari ($9). The prices will fluctuate in $.25 cent increments, but will most likely plateau at a $2 change in either direction.

A glass of Guinness starts at $6 but could be pushed to a high of $8 or a low of $4, depending on popularity.

The floor and ceiling on the prices makes this much more of gimmick (which the owners admit) than anything significant. Unless they allow Wall Street savvy patrons to really get creative, we'll never know what kind of booze-based instruments might emerge. Patrons might create hops-backed securities. Corona default swaps. Gin futures with an option to buy the equivalent amount of tonic. A phone number futures market on the digits of that drunk blond chick at the end of the bar.

It can't last forever, though. Eventually regulators will be called in when patrons become Too Drunk To Fail.

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  1. It’s a shame that someone drunk with power always defeats someone drunk with booze. It should be the other way around.

    1. You’re not talking about fistfights though. Depends on what kind of fight it is…

  2. I’ll buy two gin and tonics of they hit $5.00, open order.

  3. “Hops-backed securities.” Most excellent pun.

    1. It’s certainly clever, but I’m not sure you understand what a pun is.

      1. I think it classifies as a pun based on its being “intentional misuse of…homonymic…language.” (http://en.wikipedia.org/wiki/Pun)
        Remove the pluralizing ‘s’ from “hops” and it applies.

        p.s. Way to make friends, dude.

  4. If I can save money by ordering unpopular beer or appetizers, that’s kinda fun.

    1. That’s what I was thinking. Low on cash, just ask what’s not selling.

      I guess you could ask what hasn’t sold all not and see if they will sell it for a buck.

      I have to check this place out.

    2. Actually, I’m surprised bars don’t do this more often. Obviously they often have a special of the month, but you’d think if something isn’t moving you’d want to drop the price to clear up the tap handle for something else.

  5. A scotch short squeeze will burst the soda bubble, resulting in collapse and renewed calls to instate the upchuck rule.

    1. Warren, what you said in nonsense but it is funny.

  6. I don’t know about you, but I drink to get away from work.

  7. If they were smart, they would also be offering the rights to use the one clean stall in the bathroom, no price cap.

    1. It’s NYC, what clean stall?

      For those interested

      Exchange Bar & Grill, 256 Third Ave, nr. 21st St.; 646-596-9039

      1. It’s NYC, what clean stall?

        You are right, I should change that to: “…the rights to use the one urinal no one has taken a dump in…”

        1. LOL. If it was the late 80s it would be a right to use the urnial a junkie didn’t OD in. Times have changed.

        2. Hey, it’s about the phone numbers, man.

  8. Voros at 11 PM Friday night: “BUY! BUY! BUY!”

    Voros at 11 AM Saturday morning: “sell. sell. sell…”

  9. This is good as long as they don’t run into liquidity issues.

  10. hot wings ($7 for 6 pieces)

    Are you fucking kidding me?

    1. That’s the price you pay for living in the greatest bee hive city in the world.

    2. Wing prices are skyrocketing due to demand.

    3. If you can afford a $400,000 one bedroom apartment in Gramercy, what’s $7 for a 1/2 dozen of wings.

      But you can get wings cheaper in NYC.

    4. I’m f—ing but not kidding.

  11. I’m assuming this bar allows patrons to only buy, not sell. What’s the point of this dumb little exercise if I can’t show up at 4:45 and buy up a keg and a few bottles in anticipation of the 5:00 bubble?

    1. As long as I can bottom feed after a crash.

    2. I’m assuming you are correct since the patrons would lack the license to sell (trade) alcohol on the premises.

    3. If the bar never actually gives you the alcohol and just acts as a broker, would it still run afoul of that law? They just hang onto “your” booze and sell it to patrons at the price you dictate, perhaps for a small commission…

  12. Can I buy a drink now and take delivery at a future time?

    1. Buy Low, Drink High.

      (open to interpretation)

  13. Hey Maggots,

    My name is Tony, and I hate every single one of you. All of you are fat, retarded, no-lifes who spend every second of their day looking at stupid ass libertarian articles. You are everything bad in the world. Honestly, have any of you ever gotten any pussy? I mean, I guess it\’s fun making fun of people because of your own insecurities, but you all take to a whole new level. This is even worse than jerking off to pictures on Facebook.

    Don\’t be a stranger. Just hit me with your best shot. I\’m pretty much perfect. I was captain of the football team, and starter on my basketball team. What sports do you play, other than \”jack off to Austrian School Praxeology\”? I also get straight A\’s, and have a banging hot girlfriend (She just blew me; Shit was SO cash). You are all idiots who should just kill yourselves. Thanks for listening.

    1. I’m gonna give this a 6 — roughly captures the Tony Hate TM, but not subtle enough to suck in people into momentarily this is actually Tony driveling on.

      1. Should read

        “into momentarily believing

        1. Agreed. This would have been better:

          Underzog

          Hey R?hmites,

          My name is Underzog, and I hate every single one of you goyim. All of you are fat, retarded, no-lifes who spend every second of their day looking at stupid ass libertarian articles. You are everything bad in the world. Honestly, have any of you ever gotten any pussy? I mean, I guess it\’s fun making fun of people because of your own insecurities, but you all take to a whole new level. This is even worse than jerking off to pictures on Facebook.

          Don\’t be a stranger. Just hit me with your best shot. I\’m pretty much perfect. I was captain of the chess team, and starter on my Model U.N. team. What activities do you do, other than \”jack off to Hamas propaganda\”? I also get straight A\’s, and have a banging hot Jewish girlfriend (She just blew me; Shit was SO gelt). You are all R?hmites who should just kill yourselves. Thanks for listening.

          1. What’s up with all these ‘\’? Is this some new interpunctation that I missed since I left school?

      2. And what’s with the backslashes? Is this a rant or a Perl script?

        1. Heh. “I’m pretty much perfect, except for my understanding of how to escape metacharacters.”

    2. A guy football captian? Tell me more, butter buns.

      Kiss kiss!
      YFQ

      1. guy = gay

        (as does guy-on-guy)

    3. Thanks, Tony. If you liked me, there’d be nobody left to hate me.

  14. Can you buy on margin?

  15. I think this is more of a sales gimmick than a real attempt to implement market forces.

  16. They had one of these places in (of all places! former East) Berlin when I lived there about 10 years ago. It was quite the hit.

  17. Isn’t there a way other than price ceilings/floors to achieve the same result?

    I would think that creative use of standing limit orders involving the “house” to borrow from casino jargon, might do the trick.

  18. they also had one in melbourne, australia a few years ago, and yes its more of a gimmick, they had a price floor, but it was great fun to watch the line at the bar yell ever changing orders at the bar staff

  19. Can I buy a drink now and take delivery at a future time?

    That’s what I was wondering; can you stop in at two in the afternoon, when it’s slow, and buy call options for eight o’clock cocktails?

  20. Hope they have a good lawyer.

  21. $6 glass of Guinness could be pushed to $8 but not worth $4, not for draft.

    Guinness for health, Guinness for strength, Guinness at this joint for a fast track to an empty wallet.

  22. Too Drunk Too Fail is quite the accomplishment.

  23. Point Break – A Perfect Bar Experience in NYC

    A local friend recommended and took my Cali group to this amazing bar. He said that mostly locals came here so I didn’t really know what to expect ambiance wise… but screw it, the view at this bar was absolutely breathtaking! No joke. I felt like a celebrity w/ superstar treatment as the staff are friendly and amazing to say the very least.

    I don’t know who the house DJ was but he definitely was playing music right up my alley. It would’ve been my dream for people to start dancing, but it’s all good.

    It’s a bit sceney for my taste, but it really didn’t bother me much. the bartenders knew their stuff, although their 1st cocktail was a little weak, when he saw i understood cocktails the next 2 were stronger. I also liked that even though the place was really hopping the bartender remembered what i was drinking when i came to order another. (he also understood how good a gin hendricks is, and not to overpower it with the mixer). It was amazing to see their “das boot” which is shaped like a boot filled with beer. Don’t get me wrong, I am not drunk?it’s an actual boot shaped beer container ready to be emptied..try it ..you will love it!! Oh..how can I forget, they even have a wheel o’ shots where you just have to spin it and have to drink whatever shot it lands on!! Now call that bar creativity at its best!!!

    We ordered the Veal and Fish Tacos. They were delicious. Mm! We ended up asking for spoons to polish off whatever remained in the platter. (Faux pas? Who cares as long as it gets in my tummy.) The fries were crispy, but not overcooked, just the way that I like them.

    So take in this scene: You walk in to what seems like an overly crowded place, but soon fine an empty table. Time seems to stop and the only indicator of the night moving on is the moon and your brain cells slowly going to bed forever. The music is not to loud and the people around look good, the only thing left for you to do is to enjoy that drink you paid ridiculously low for and laugh at the joke your co-worker just told.

    The vibe of the place just never seems to die out and if you happen to spot some NYC socialite, sports player, or star, don’t let it get to you… because for that moment, this night they are no long more important than then you. In fact go up to them and introduce yourself!

    All in all just a great place to meet new people, or just have drinks with people you already know. I’ve been to numerous bars in the city but i would say this place is just great. Very welcoming staff, very laid back ambiance. I’ve been here twice after my first visit with my Cali group . I would say its worth the every penny you spend!!

  24. I’ll sell $4 puts on the Guinness.

  25. I’ll wait for option contracts on the drinks to be made available.

  26. I read that SideBAR is having a Cocktail Crash happy hour event April 15 which seems similar to this…will be fabulous. 7-10pm

  27. There has been a chain of bars like this in Switzerland for some time. It’s called “Mad Wall Street.” There’s one in Lucerne and one in Basel.

  28. Yea but the one at SideBAR is cool because they’re doing an actual “crash” where drinks will be crazy cheap, the other ones have limits on how low they will go..April 15th- SideBAR

  29. Anyone who’s anyone will be at Sidebar on the 15th =)

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