Strategy for the restaurant using game theory principles

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A restaurant is moving away from traditional reservations to a ticketing system, where customer will prepay for the seat and meal as a set price upfront. The reasons for this include: 1) the entire 'book' is not in the online reservation system; 2) a host on the phone can be cajoled into giving up a table; 3) there may be no-shows; 4) restaurants don't put prime-time tables online using the system to book slower times. Argue for or against a new pricing strategy for the restaurant using Game Theory principles.

Reference no: EM132460855

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