Last week, I paid $25 for three hours at an NYC parking garage. Others though paid $50 for the same amount of time. We could say that it cost me less. But there is much more to the story. What…
This week’s economic news summary included unexpected insight from credit scores, the natural resource curse, and what the bacon cheeseburger can tell us.
Disney is considering dynamic pricing to spread attendance and diminish lines. Restaurants, airlines, hotels and others with pricing power also vary price.
As monopolies, electric utilities have the pricing power that lets them offer dynamic pricing through smart meters but supply and demand will change slowly.
Displaying some pricing power, dynamic pricing on Amazon, for airlines, Uber and elsewhere recognizes and responds to changes in demand to maximize profits.
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