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Thanks to rapidly-adjustable websites and apps, airlines can engage in dynamic pricing.

Price Discrimination in the Airline Industry: How Airlines Maximize Revenue Through Dynamic Pricing

Airlines engage in dynamic pricing by charging consumers higher prices when they buy tickets closer to the departure time. Artificial intelligence (AI) allows firms to more effectively engage in price discrimination to perfect dynamic pricing and maximize profits....
5 min read
Diminishing Marginal Benefit
Definitions Business economics

Diminishing Marginal Benefit

Published on June 16, 2024

Inferior Commodity
Definitions Business economics

Inferior Commodity

Published on June 05, 2024

Brand Loyalty
Definitions Business economics

Brand Loyalty

Published on May 15, 2024

Image of an iphone in the dark with the screen lit up showing various app
Managing the economy Competitive markets Business economics

Global Talent and the Law of Comparative Advantage: Understanding Labor Arbitrage in App Development

Published on April 11, 2024

Labour Intensive
Definitions Business economics

Labour Intensive

Published on March 31, 2024

Image of smartphone with some applications.
Behavioural economics Business economics

Marginal Cost and Marginal Benefit in Digital Advertising: How Ad Format Choices Reflect Core Economic Principles

Published on March 31, 2024

Ex-Ante Meaning
Definitions Business economics

Ex-Ante Meaning

Published on March 28, 2024

Consumer Durables
Definitions Business economics

Consumer Durables

Published on March 27, 2024

Smartphone with BTC chart on a black textured background.
Behavioural economics Business economics

Liquidity Preference Theory and the High Cost of Instant Bitcoin Purchases

Published on March 25, 2024

Colorful screen and blocks with letters
Business economics Behavioural economics

Marginal Cost Pricing and the Rise of Affordable Custom Graphic Design Services

Published on March 17, 2024

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Despite being created to save us time, modern appliances do not seem to make us any less busy.

The Paradox of Automation: How Labor-Saving Technology Can Create More Jobs

Almost a century ago, a famous economist predicted that technological innovations would drastically reduce our labor. Today, however, we seem just as busy as ever. Various factors explain why labor-saving tech did not reduce our laboring!...
5 min read

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