Sunday, November 6, 2011
Thursday, November 3, 2011
Whoever came up with dynamic pricing is genius. Knowing that the demand of tickets is going to increase depending on different variables, just as weather, opponents, times, or even days of the week. The St. Louis Cardinals baseball organization exhibited dynamic pricing at is finest during and after the World Series Game 6. It showed the different prices jumping up $100 in a mere inning; less than an hour! Then jumping another $60 in less than an hour, and by the morning after the Cardinals won game 6, forcing a sudden death atmosphere forcing the deciding game 7, another $100 increase. The average price for a World Series ticket at The Cardinals stadium was around $750-$800 jumped to around $950, in less than 12 hours. The demand of these tickets affected by just a variable such as winning, sky rockets, not usually happening during the regular season if a team wins 1 out of 162 games. But if dynamic pricing is so successful, there have to be SOME cons of this perfectly good pricing method, so what do you think they are?
Do you think we’re stilling feeling aftereffects of the recession ended in 2009? According to “The New Republic” article, our economy is growing too slow for the uprising population we’re seeing increase. The economy is getting left in the dust comparing to population, which could make our economy decrease quite a bit, therefore possibly sending us into another recession. Unemployment and under-employment is also affecting our economy by not giving a paycheck to employees for them to spend it and feed it back into our much-needed economy.
So how can we help the economy now? We could try and manage our importing and exporting a little, by that I mean we could try and not import, or buy as much, because then we just lose money even while we’re exporting, much fewer goods. We need to balance it out a little more, then jobs in that industry would have to be cut, therefore leading to more unemployment. Another possible solution is get the citizens to not be scared, and take there money out of savings and buying more things, raising the demand for employees, thus circulating money through our economy.