What If You Could See Airline Pricing Algorithms?
from the actually-a-watched-pot-does-boil dept
Even with a variety of price comparison tools at our fingertips, shopping for plane tickets is still a black art. Prices change depending on ticket availability, route popularity, and a cadre of other unseen factors. A new site, Farecast, attempts to help would-be travelers decide when the best time to buy a plane ticket by forecasting future ticket price changes. Price transparency is good for the consumer, and the mere fact that a site like this even gets any buzz is symptomatic of the frustration that consumers feel for the whole ticket buying process. If Farecast is able to accurately predict this market and increase price transparency, consumers will win out by getting some valuable insight on a very confusing process. Then again, if too successful, at which point do these forecasts start actually influencing the prices themselves?