Week 0: Introduction

Have you ever wondered why you pay a greater price for a concert ticket earlier on in the sales? Or if you pay for a plane ticket closer to your travel date it will be higher than it might have been two months ago? Hello, and welcome to my senior project blog! My name is Charlotte Joyce and I have been at BASIS Independent Brooklyn since 8th grade. For my senior project, I am excited to answer the following question: How do ticketing platforms for concerts versus airlines employ dynamic pricing, and what ethical considerations surround the use of dynamic pricing in terms of its impact on consumers? I first became interested in dynamic pricing in 2018 during Taylor Swift’s Reputation tour and all the controversy surrounding the possible usage of dynamic pricing. Additionally, my step-dad used to work in the aviation industry which is what led me to be interested in the comparison of how dynamic pricing is utilised in concerts versus airlines.

To view more on my project process click here.

Until starting some preliminary research on my topic, something that I was unaware of in regards to the usage of dynamic pricing in selling concert tickets was the fact that it is not the promoter of a concert (concert promoters organise and present live music events, doing everything from booking the artists, securing venues, selling tickets and marketing the show) that chooses to use dynamic pricing but actually that choice is given to the artist who the promoter is selling the tickets for. And the biggest difference between its usage for concerts and airlines is scarcity. Because there are only so many chances to get to see an artist, fans get more upset if they are unable to obtain a ticket because of availability or price than they would if they are unable to get a plane ticket, because plane tickets aren’t only available on occasion.

Yet, this information is only scratching the surface of everything that dynamic pricing is and throughout the next couple of weeks, I plan to get a deeper understanding of dynamic pricing. I look forward to sharing my research with everyone!