OnDemand WTP Pricing Research

Tag: demand based pricing

A Guide to Dynamic Pricing Algorithms | Grid Dynamics

A Guide to Dynamic Pricing Algorithms | Grid Dynamics

Price setting is one of the most important problems in retail because any price setting error directly results in lost profit. However, traditional price management methods almost never achieve optimal pricing because they are designed for traditional environments, where the frequency of price changes is inherently limited (e.g., brick-and-mortar stores), and the complexity of pricing […]

How Is AI Is Empowering Sales | CIO Applications

How Is AI Is Empowering Sales | CIO Applications

Companies are using artificial intelligence and Machine Learning in all possible ways to advance their businesses. AI monitors a customer’s online activity to predict and suggest certain products which are relevant to the customer. Companies need to identify the different types of data sets that can be combined to portray the complete picture of the customer […]

Airport parking: Passengers blamed for high parking ticket prices | news.com.au

Airport parking: Passengers blamed for high parking ticket prices | news.com.au

Despite masses of complaints from the public, the Productivity Commission has defended the cost of parking at Australian airports, which often exceeds the cost of an airline ticket. A draft report released today claims consumers place too much value on “convenience” and the cost is justified. “Many consumers resent the price of parking at a […]

Optimism abounds as Disney looks toward Galaxy’s Edge | Theme Park Insider

Optimism abounds as Disney looks toward Galaxy’s Edge | Theme Park Insider

Iger also addresses Disney’s pricing strategy on tickets and annual passes, which Disney is using to try to even out demand for the parks throughout the year. “We know that crowding can be an issue and when our parks are at their most crowded, the guest experience is not what we would like it to […]

Artificial intelligence, algorithmic pricing, and collusion | VOX

Artificial intelligence, algorithmic pricing, and collusion | VOX

Remember your last online purchase? Chances are, the price you paid was not set by humans but rather by a software algorithm. Already in 2015, more than a third of the vendors on Amazon.com had automated pricing (Chen et al. 2016), and the share has certainly risen since then – with the growth of a […]

Algorithms Are Better Than We Thought – They Can Collaborate Into Cartels | The Continental Telegraph

Algorithms Are Better Than We Thought – They Can Collaborate Into Cartels | The Continental Telegraph

Antitrust agencies are concerned that the autonomous pricing algorithms increasingly used by online vendors may learn to collude. This column uses experiments with pricing algorithms powered by AI in a controlled environment to demonstrate that even relatively simple algorithms systematically learn to play sophisticated collusive strategies. Most worrying is that they learn to collude by […]

Ticket Demand for Alabama-Clemson Title Game at All-Time Low | Bloomberg

Ticket Demand for Alabama-Clemson Title Game at All-Time Low | Bloomberg

Demand for tickets to college football’s national title game is at an all-time low, as travel costs and match-up fatigue weigh on fans of both Alabama and Clemson. Prices for tickets to Monday’s College Football Playoff title game at the San Francisco 49ers home in Santa Clara, California, have dropped more than 50 percent since […]

Micro-responses to shocks: Pricing, promotion, and entry | VOX – CEPR Policy Portal

Micro-responses to shocks: Pricing, promotion, and entry | VOX – CEPR Policy Portal

Studying how firms respond to demand shocks can provide useful insights into firm and consumer behaviour, while revealing important implications for market outcomes and for policy decision making. Firms can respond to shocks by adjusting prices (intensive margin) and/or their product mix (extensive margin). These decisions may potentially differ for single- versus multi-product firms, for […]

Newcastle Airport parking: Airport bosses answer your questions after price hike backlash | Chronicle Live

Newcastle Airport parking: Airport bosses answer your questions after price hike backlash | Chronicle Live

The news that Newcastle Airport will double the price to drop off passengers outside the terminal has caused a sizeable backlash. Hiking the charge to £2 for a ten-minute stay in the Express car park is a concern among many of our readers who do not see why the increases are needed. Many have expressed […]

Are budget airlines really charging families to sit with their own children? | NewStatesmanAmerica

Are budget airlines really charging families to sit with their own children? | NewStatesmanAmerica

Are algorithms trying to steal our children? That’s the question at the heart of the latest airline ticket pricing scandal. Are budget airlines trying to squeeze more money out of families by deliberately allocating them seats in separate parts of the plane, then forcing them to pay a fee so that children can be seated […]