Economics at your fingertips  

Optimization of dynamic ticket pricing parameters

Mehmet Şahin ()
Additional contact information
Mehmet Şahin: Iskenderun Technical University

Journal of Revenue and Pricing Management, 2019, vol. 18, issue 4, 306-316

Abstract: Abstract This paper proposes a joint pricing model that combines the advantages of variable and dynamic ticket pricing models, where optimal dynamic prices are calculated for sporting events based on game-, time-, and inventory-related factors. These prices are based on a reference price and several different multipliers. Three different scenarios are investigated to reveal the most effective pricing model, together with corresponding simulation models. For the first time, a fuzzy logic model is used to predict the game multiplier, which reflects the characteristics of each individual game. The required demand information is predicted by an adaptive neuro-fuzzy inference system (ANFIS) model, and the price multiplier parameters are optimized to maximize the expected total revenue. Results based on real sporting data show that the new dynamic strategies were able to increase the expected revenue compared with a traditional static pricing strategy, indicating that all three joint pricing model scenarios could be utilized effectively to price sporting event tickets.

Keywords: Optimization; Simulation; Variable ticket pricing; Dynamic ticket pricing; Forecasting; ANFIS (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from

Access Statistics for this article

Journal of Revenue and Pricing Management is currently edited by Ian Yeoman

More articles in Journal of Revenue and Pricing Management from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla ().

Page updated 2020-01-08
Handle: RePEc:pal:jorapm:v:18:y:2019:i:4:d:10.1057_s41272-018-00183-1