Pay what you can
Encyclopedia
Pay what you can is a non-profit or for-profit business model
which does not depend on set prices for its goods, but instead asks customers to pay what they feel the product or service is worth to them. It is often used as a promotional tactic, but can also be the regular method of doing business. It is a variation on the gift economy
and cross-subsidization, in that it depends on reciprocity
and trust to succeed.
"Pay what you want
" is sometimes used synonymously, but "pay what you can" is often more oriented to charity or socially oriented uses, based more on ability to pay, while "pay what you want" is often more broadly oriented to perceived value in combination with willingness and ability to pay.
Business model
A business model describes the rationale of how an organization creates, delivers, and captures value...
which does not depend on set prices for its goods, but instead asks customers to pay what they feel the product or service is worth to them. It is often used as a promotional tactic, but can also be the regular method of doing business. It is a variation on the gift economy
Gift economy
In the social sciences, a gift economy is a society where valuable goods and services are regularly given without any explicit agreement for immediate or future rewards . Ideally, simultaneous or recurring giving serves to circulate and redistribute valuables within the community...
and cross-subsidization, in that it depends on reciprocity
Reciprocity
Reciprocity may refer to:*Reciprocity , used to describe the concept of free trade with the United States of America** Reciprocal trade agreement, entered into in order to reduce tariffs, quotas and other trade restrictions on items traded between the signatories*Reciprocity , the relationship...
and trust to succeed.
"Pay what you want
Pay what you want
Pay what you want is a pricing system where buyers pay any desired amount for a given commodity, sometimes including zero. In some cases, a minimum price may be set, and/or a suggested price may be indicated as guidance for the buyer. The buyer can also select an amount higher than the standard...
" is sometimes used synonymously, but "pay what you can" is often more oriented to charity or socially oriented uses, based more on ability to pay, while "pay what you want" is often more broadly oriented to perceived value in combination with willingness and ability to pay.
See also
- Pay what you wantPay what you wantPay what you want is a pricing system where buyers pay any desired amount for a given commodity, sometimes including zero. In some cases, a minimum price may be set, and/or a suggested price may be indicated as guidance for the buyer. The buyer can also select an amount higher than the standard...
- One World CafeOne World CafeOne World Everybody Eats is a nonprofit community kitchen and foundation based in Salt Lake City, Utah. Its motto is "a hand up, not a hand out." The community kitchen concept is a restaurant based on a gift economy, allowing patrons to "pay what they can" and serving all members of the...
- SAME CafeSAME CafeThe SAME Cafe is a nonprofit community cafe located at 2023 East Colfax Avenue, Denver, Colorado. Brad and Libby Birky invested $30,000 to open the restaurant on October 20, 2006, inspired by their background in community service and a visit to the One World Cafe in Salt Lake City, Utah...
- In RainbowsIn RainbowsIn Rainbows is the seventh studio album by the English rock band Radiohead. It was first released on 10 October 2007 as a digital download self-released, that customers could order for whatever price they saw fit, followed by a standard CD release in most countries during the last week of 2007. The...
album by RadioheadRadioheadRadiohead are an English rock band from Abingdon, Oxfordshire, formed in 1985. The band consists of Thom Yorke , Jonny Greenwood , Ed O'Brien , Colin Greenwood and Phil Selway .Radiohead released their debut single "Creep" in 1992... - Dragonflies album by Everyone's TalkingEveryone's TalkingEverybody's Talking was a game show which aired on ABC from February 6 to December 29, 1967. Former dance-party host Lloyd Thaxton was the host; Wink Martindale and Charlie O'Donnell were the announcers...
- Metropolitan Museum of ArtMetropolitan Museum of ArtThe Metropolitan Museum of Art is a renowned art museum in New York City. Its permanent collection contains more than two million works, divided into nineteen curatorial departments. The main building, located on the eastern edge of Central Park along Manhattan's Museum Mile, is one of the...