In “Why Don’t Restaurants Charge for Reservations?” Alex Mayyasi’s really interesting Priceonomics post about the mysterious policies of dining establishments, we learn why some dishes are “loss leaders” and why meals cost the same whether they’re served at peak or off-peak hours. An excerpt about start-ups trying to disrupt the reservation system, which is usually based on social rather than monetary capital:

“One reason entrepreneurs keep trying to sell reservations is that restaurant pricing seems so outdated. Airlines charge significantly more for tickets on weekends and charge much less for flights that depart at 5am, yet all dinner reservations are the same price (free) and with the exception of a few special holiday menus, prices are the same on Tuesday at 6pm as Saturday at 8pm. 

At the very high end of the restaurant business, that may be changing. Nick Kokonas is the co-owner of three expensive, celebrated restaurants in Chicago. He now charges for reservations using a system he developed — one that restaurateurs may actually like.

When customers reserve a table at one of Kokonas’s restaurants, they pay for their entire dinner. The restaurants have a fixed price tasting menu (although at a more casual restaurant that does not, customers’ reservation charge is a credit toward their bill), so a reservation is actually a pre-paid ticket for a meal at a set time. 

They system can benefit everyone. It overcomes owners’ and managers’ primary objection to charging for reservations, as diners pay for their meal rather than for a table. It also eliminates the need for reservation staff and prevents no-shows.”