Nice discussion on the economics of a fancy restaurant

http://andrewgelman.com/2012/01/econ-debate-about-prices-at-a-fancy-restaurant/

http://www.bloomberg.com/news/2012-01-06/the-economics-of-celebrity-chef-grant-achatz-the-ticker.html 

I agree with them, but probably the restaurant doesnt care about the issue of overpricing that much...with a first naive approach they are happy. It saves face.