Ticket prices, Competition and Markets Authority, Business, Economic policy, E-commerce, Oasis, Economics, Consumer affairs, Internet, Ticketmaster, Regulators Business | The Guardian
The price mechanism is an effective if brutal route to cheap flights abroad and, Labour hopes, affordable housingFans of Oasis received a lesson in how capitalism works when the first tickets for the band’s reunion concerts went on sale. People queued for hours only to find that the price had rocketed from what they imagined would be £148.50 to £355.20 by the time it came to pay.This was due to dynamic pricing, under which businesses adjust their prices flexibly based on current market conditions. Airlines, hotels and taxi companies all use this model. Continue reading…
The price mechanism is an effective if brutal route to cheap flights abroad and, Labour hopes, affordable housing
Fans of Oasis received a lesson in how capitalism works when the first tickets for the band’s reunion concerts went on sale. People queued for hours only to find that the price had rocketed from what they imagined would be £148.50 to £355.20 by the time it came to pay.
This was due to dynamic pricing, under which businesses adjust their prices flexibly based on current market conditions. Airlines, hotels and taxi companies all use this model.
