More on Using the Airline Model of Pricing to Price Tickets
Granted this is just an experiment, and maybe selling seats in a stadium isn’t radically different from selling seats on an airplane. But with technology developments such as RFID — radio-frequency-identification chips that, among other things, let retailers and warehousing operations keep close tabs on inventory — you wonder how far “dynamic pricing” could extend into our everyday lives. Someday, will the grocery store raise the price of bananas based on how many fruits remain on the shelf? Or will the bus driver charge a different fare depending on how many riders are aboard?
Technology has already changed how teams view scalping. Now that they can get a piece of the action with scalping, the secondary ticket market doesn’t look like such a bad idea now. What’s next in store for ticket pricing?
Cross posted at Market Power