Unit 1 Micro: Prices in Action - Ticket Pricing at Derby County
A warm hat tip to Ed Marsh, Head of Economics at Glyn School for spotting this superb example of a sports club using dynamic pricing technology to determine the prices of tickets for their home games.
The BBC news site reports that Derby County are introducing "demand-based" ticketing for the coming season with prices fluctuating according to the opposition, the team's form, kick-off times and even the weather. The system is known as Sports and Entertainment Analytical Ticketing System (SEATS)
Buy in advance and fans will get cheaper prices - but what if a sizeable group decides to start a game of chicken with the club and hold back from buying? As match day gets closer, ticket prices should move higher, but if demand for a game is well below the stadium's capacity will prices drop back?
Hardened cynics might also point out that the Derby County ground has a fundamental design flaw .... the seats face the pitch!
More From the Digital Store
A comprehensive series of topic-by-topic study notes to support students on Section 1 (Microeconomics) of the IB Diploma in Economics. It covers both the SL and HL content of the IB...
The bumper collection of teaching & learning resources provided to delegates on our popular Teaching Behavioural Economics at A Level course.
A comprehensive collection of editable lesson topic worksheets to support the teaching of the core teaching content Year 1 (AS) A Level Economics specification.
Much cheaper & more effective than TES or the Guardian. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences.