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Prices, Algorithms and Scarce Products
Summary by El Economista
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The sale of tickets for concerts in Mexico by the Korean band BTS generated an unusual discussion about the marketing mechanisms of mass events. In particular, fans pointed out, without proof of this, that the marketing company used strategies of “dynamic prices” that would have increased the cost of tickets. The episode illustrates why the issue of dynamic prices has become so sensitive. Dynamic prices refer to schemes in which the price of a g…
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