EconPapers    
Economics at your fingertips  
 

Do I book at exactly the right time? Airfare forecast accuracy across three price-prediction platforms

Tenghui Huang (), Chih-Chien Chen () and Zvi Schwartz ()
Additional contact information
Tenghui Huang: University of Delaware
Chih-Chien Chen: University of Nevada
Zvi Schwartz: University of Delaware

Journal of Revenue and Pricing Management, 2019, vol. 18, issue 4, 281-290

Abstract: Abstract Customers are uncertain about the best time to get the lowest airfares due to the practice of dynamic pricing in revenue management. Even with the help of price-prediction platforms, the optimal time to buy the lowest-priced airfare remains unclear. This study compares airfare forecasts across the prediction outcomes suggested by Hopper, KAYAK, and FareHack. The data were recorded daily over a 77-day period, focusing on ten one-way route airfares during this time. The results show that, despite the importance of accurate forecasting, there is no best website for the optimal recommendation—prediction accuracy varies based on the number of days before the departure date.

Keywords: Forecast; Airfare; Prediction; Hopper; FareHack; KAYAK (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1057/s41272-019-00193-7 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: https://EconPapers.repec.org/RePEc:pal:jorapm:v:18:y:2019:i:4:d:10.1057_s41272-019-00193-7

Ordering information: This journal article can be ordered from
https://www.palgrave.com/gp/journal/41272

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_s41272-019-00193-7