At McDonald’s, no reservations are accepted; at the St. Louis Art Museum Restaurant, reservations are accepted; at Le Bernardin in New York, reservations are essential. Use this information to answer Problems 1 to 3.
Describe the method of allocating table resources in these three restaurants.
Why do you think restaurants have different reservation policies, and why might each restaurant be using an efficient allocation method?
Why don’t all restaurants use the market price to allocate their tables? ...