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An examination of dynamic ticket pricing and secondary market price determinants in Major League Baseball
Abstract
Over the past several years, professional sport organizations have started to shift from cost-based ticket pricing strategies to a demand-based focus, where price considerations are driven, in part, by market demand. Dynamic ticket pricing (DTP), where prices fluctuate daily based on market factors, evolved from this transition. The motivation for DTP stems from the significant growth of the secondary ticket market, where ticket prices are almost completely demand driven. One issue with this strategy is the limited understanding of specific factors that influence dynamically priced tickets and secondary market tickets. The current study examined price determinants in the primary market where DTP has been implemented and comparable tickets in the secondary market. Four regression models were developed for this purpose. The first two models examined factors influencing dynamic ticket price. Both DTP models were found to be significant, explaining 91.4% and 70.8% of the variance in dynamic price, respectively. The second two models examined factors influencing secondary market ticket price. Both secondary market models were found to be significant, explaining 82.7% and 79.7% of the variance in secondary market price, respectively. There were many consistencies between models, including an emphasis on team and individual performance factors, ticket-related factors, and time-related factors. However, there were a number of unique aspects to each model, which may help sport managers develop pricing strategies that better reflect market demand for sport
... Examples include home and away teams' performance, the presence of star players, weather, day of a game, and income per capita (e.g. Drayer and Shapiro, 2009;Hyun and Soebbing, 2023;Noll, 1974;Sanford and Scott, 2016;Shapiro and Drayer, 2014;Simmons, 2006). However, a more holistic understanding of this market remains needed (Courty, 2019) because one of the important demand shifters in sport, outcome uncertainty, has not been extensively comprehended from resellers' perspectives in this demand-driven market. ...
... Practically, as previous studies (e.g. Drayer et al., 2012;Shapiro and Drayer, 2014) suggest, sport organizations can develop revenue and marketing strategies by understanding secondary market pricing and the perceived value of a game. Thus, this study accordingly investigates the relationship between the UOH and secondary market ticket pricing strategy based on the following research questions (RQs): ...
... In the sport industry, secondary market ticket pricing, also known as demand-based pricing, is determined by consumer demand and resellers' perspectives (e.g. Noll, 1974;Shapiro and Drayer, 2014), which drives ticket prices either above or below face value. Previous studies (e.g. ...
Purpose
This study examines the impact of outcome uncertainty on the National Football League (NFL) secondary ticket market prices. As a demand-driven market, it is essential to comprehend how resellers respond to outcome uncertainty, one of the consumer demand factors in sports.
Design/methodology/approach
Using real-time ticket prices and money lines as a proxy of the probabilities of winning, this study employs a regression analysis and examines 33,554 price observations from the NFL’s secondary ticket market partner, StubHub.
Findings
The result shows a positive relationship between outcome uncertainty and secondary market ticket prices, indicating that resellers adjust the prices in response to the level of outcome uncertainty and put more value on games with greater uncertainty. This finding confirms the demand-driven nature of the secondary ticket market, as outcome uncertainty is one of the demand factors in sports.
Originality/value
This study links the uncertainty of outcome hypothesis with secondary ticket market pricing and fills a gap in the literature by providing an important perspective on games with uncertainty in the secondary ticket market. Outcome uncertainty has limited understanding in relation to secondary ticket market pricing despite its relationship with consumer demand. The positive relationship between outcome uncertainty and the ticket prices, grounded in real-time price data and win probability from sport betting markets, enhances our understanding of price determinations in the secondary ticket market.
... The secondary ticket market's dramatic expansion has compelled researchers and marketers to investigate price determinants based on factors influencing consumer demand in diverse sport industries. Scholars have examined team performance, individual performance, star players, the day of a game, and weather conditions in professional and collegiate sports across multiple countries (e.g., Drayer et al., 2012;Kemper & Breuer, 2015;Shapiro & Drayer, 2014;Shapiro et al., 2021). ...
... Among common price determinants, divisional affiliation has consistently been identified as a significant factor in both consumer demand and secondary market ticket pricing. The importance of a game against an opponent in the same division (i.e., a divisional game or an intradivisional game) has been stressed along with rivalry and post-season games (e.g., Shapiro & Drayer, 2014;Welki & Zlatoper, 1999). Divisional games have also been heavily commercialized, as divisional rivalries increase ticket demand. ...
... Divisional games have also been heavily commercialized, as divisional rivalries increase ticket demand. In the NFL context, Shapiro and Drayer (2014) observed significantly higher ticket prices for divisional games, which constitute roughly 35% (i.e., 6 out of 17 games) of the regular season. Additionally, the importance of divisional affiliation in relation to scheduling was emphasized with recent changes to MLB scheduling policies. ...
... Studies have revealed numerous price determinants in diverse secondary ticket market domains (e.g. seat location, team's current winning percentage, number of superstars, division/league affiliation, number of tweets and part of the season; Drayer et al., 2012a;O'Hallarn et al., 2018;Shapiro and Drayer, 2014;Shapiro et al., 2016;Shapiro et al., 2021). Price determinants have been discovered in a resale environment that is mostly driven by demand (Shapiro and Drayer, 2014). ...
... seat location, team's current winning percentage, number of superstars, division/league affiliation, number of tweets and part of the season; Drayer et al., 2012a;O'Hallarn et al., 2018;Shapiro and Drayer, 2014;Shapiro et al., 2016;Shapiro et al., 2021). Price determinants have been discovered in a resale environment that is mostly driven by demand (Shapiro and Drayer, 2014). ...
... Among resale price determinants, time is one of the most important factors in pricing strategies real-time fluctuations in demand (Shapiro and Drayer, 2014). Scholarly interest in the impact of time on ticket pricing has risen as the resale market has become more prevalent (Dwyer et al., 2013;Kemper and Breuer, 2015). ...
Purpose
Pricing studies have largely focused on sellers' pricing strategies and price determinants. To expand earlier work on sellers' pricing decisions, this study considers time as a major factor driving sellers' ticket prices in the secondary market. Specifically, because most secondary market transactions occur in the last moments before a game, this study considers how resellers adjust ticket prices within a few days prior to a game day including an actual game day.
Design/methodology/approach
To examine the impact of time on secondary market ticket prices for Major League Baseball (MLB), ticket prices were collected from StubHub (one of the largest secondary ticket markets) four times per game: from 3 days to 1 day prior to a game day and on the actual game day. Additionally, 10 control variables were obtained from previous research on price determinants ( N = 19,155). A multiple regression model was created based on the extant literature regarding secondary market ticket prices.
Findings
Results indicate the number of days before a game negatively influenced ticket prices: resellers decreased ticket prices consistently during the last few days prior to a game's first inning. Specifically, secondary market ticket prices decreased relatively dramatically on an actual game day. Time had no significant effects on ticket prices 2 days prior to a game day. In addition to the role of time, league affiliation and the number of all-star players were identified as key price determinants in the secondary market. Moreover, changes in weather forecasts and the home team starting pitcher's ERA played significant roles in price changes.
Research limitations/implications
Despite containing a relatively high number of data observations compared with prior pricing studies, this study's findings were limited to certain teams. Additionally, as only MLB secondary market ticket pricing was considered, different outcomes and implications may apply in other major sport ticket markets (e.g. NBA, NFL, NHL and MLS) featuring distinct league structures, policies and demand.
Practical implications
This study offers practical guidance for sellers' pricing decisions. Most secondary ticket market sellers lowered their ticket prices relatively dramatically on an actual game day. Reducing ticket prices prior to a game day can lead to greater chances to avoid unsold tickets that compromise revenue management. This study's results also afford professional sport organizations and secondary ticket market consumers a clearer understanding of the factors resellers consider when setting ticket prices.
Originality/value
Although previous studies have uncovered essential elements influencing ticket prices and consumer demand in the secondary ticket market, little work has examined how time affects sellers' pricing decisions within a few days prior to a game day. Little is known about the elements that significantly influence sellers’ decisions to adjust (i.e. increase or decrease) ticket prices in the secondary market as well. This topic deserves ongoing attention, as new outcomes can supplement previous studies' findings due to changing market environments.
... Thus, although broadcasting, sponsorship, and commercial revenues may reduce the relative contribution of ticketing revenue, the latter remains of paramount importance to the event's financial success (Smith 2017). Authors such as Chappelet (2013) and Shapiro and Drayer (2014) have pointed out in their research that ticket sales and stadium attendance can help sports organisations generate more sponsorship or ancillary revenues (e.g., parking, concessions, etc.). ...
... In this sense, it should be noted that although there are some studies that approached the problem through the analysis of the possible determinants of ticket prices (Rishe andMondello 2003, 2004;Shapiro and Drayer 2014;Kemper and Breuer 2016), the vast majority of research has focused its analysis on the factors that can affect variations in consumer demand (Boyd and Boyd 1998;Falter and Perignon 2000;Forrest and Simmons 2002;Lemke et al. 2010). In turn, it was found that most of the research was addressed through the analysis of samples such as a particular sports organisation (Shapiro et al. 2016;Kemper and Breuer 2016) or some teams that compete in a league (Rishe and Mondello 2003;Xu et al. 2019), but none of the previous works proposed the analysis of ticket sales in sports mega-event environments, perhaps due to the difficulty of obtaining complete and comprehensive databases with specific information on an event with these characteristics (Kemper and Breuer 2016). ...
... Ticket sales at sporting events has been extensively studied in recent decades (Drayer et al. 2012). Among other aspects, this has been due to the need for academics and practitioners to expand their knowshledge in this field to improve the implementation of optimal strategies for setting ticket prices, to lead to the maximisation of income and greater attendance of spectators to events (Shapiro and Drayer 2014). Drayer et al. (2012) and Shapiro and Drayer (2014) identified how, over time, research that focused on the primary market was approached from many different perspectives, such as the research carried out by Scully (1994) and Noll (1974) with the intention of estimating the elasticity of demand for professional baseball and basketball; the outstanding research carried out decades later by Reese and Mittelstaedt (2001), where they explored, for the first time, the criteria used to establish the price of tickets in the NFL; or Rishe and Mondello (2004), who analysed various determinants of the price of the four major sports leagues in North America. ...
Some studies have examined ticket sales in the context of a sporting event. However, only a few have investigated the determinants of ticket prices, and, to date, none have done so in the context of a multidisciplinary sports mega-event. This study examines this complex paradigm through the case of the World Swimming Championships held in Barcelona, Spain. The particular focus of this study was whether, in such a framework, the same model of analysis of price determinants could be applied equally to all the disciplines that comprise the sporting mega-event. The applied model was significant, explaining the ranges of variation of the ticket prices in the different sport disciplines. The main hypothesis was rejected, which suggests that when examining price determinants in multidisciplinary sport mega-events, it will be convenient to implement a different model for each sporting discipline (aquatic, in the case at hand). These results can help professionals better understand consumer fluctuations throughout the ticket sales process in such an environment, in order to appropriately price tickets. This, in turn, will lead to maximizing revenue, as well as attendance, at sporting events.
... Most often the question to be answered is whether or not tickets are priced to maximize profits. The general answer is that in most cases, including baseball (Marburger, 1997;Rascher et al., 2007;Shapiro & Drayer, 2014), football (Brunkhorst & Fenn, 2010), and hockey (Ferguson et al., 1991), tickets are priced with PM in mind. Taking this one step further, Krautmann and Berri (2007), as well as Marburger (1997), both identified that ticket prices usually fall within the inelastic section of demand, which on the surface would not reflect PM. ...
... Rascher et al. (2007) suggested that the use of variable ticket pricing can yield more revenue for those teams looking to maximize profits. Furthermore, the use of dynamic ticket pricing can allow an organization to take a demand-based focus and fluctuate ticket prices based on changes in market factors (Shapiro & Drayer, 2014). Both variable and dynamic pricing strategies could be useful to teams taking a WM approach, as teams winning more games could have a higher demand and thus be able to command a higher price for their tickets. ...
... Both variable and dynamic pricing strategies could be useful to teams taking a WM approach, as teams winning more games could have a higher demand and thus be able to command a higher price for their tickets. Similarly, organizations taking a PM approach could also use these strategies to increase their bottom line, by exploiting high-demand factors such as rivalry games and when popular opponents come to play their team (Rascher et al., 2007;Shapiro & Drayer, 2014). ...
Major League Baseball (MLB) provides an optimal setting to investigate the effects of specific strategic organizational goals and decisions on various key performance indicators (KPIs). The choice to primarily pursue wins or profits (i.e., win maximization or profit maximization), along with how efficiently organizations spend their budgets (i.e., utility), have been shown to impact competitive balance, social welfare, and ticket pricing of sports leagues. The present research builds on the work of previous scholars by empirically examining MLB organizational management at the individual team level. Data collected for the current research included financial information and organizational KPIs for all 30 MLB teams from a ten-year period (2010-2019), which resulted in sample population of 300 team-year observations to be analyzed. Through the utilization of a two-way MANCOVA analysis, the current study was able to group teams by organizational goal and spending efficiency to determine differences between groups in terms of the identified KPIs. Results indicated that win-maximization teams were likely to experience relatively higher levels in most of the KPIs (e.g., wins, revenue, & franchise value), while the profit-maximizers were more likely to improve their bottom line through conservative and efficient spending. These findings were consistent with the theoretical frameworks associated with win, profit, and utility maximization. Furthermore, the current findings offer new context to the body of research, as well as a preliminary framework for deciphering the individual goals and decisions of sport organizations based on their financial statements.
... Shapiro and Drayer's (2012) analysis of DTP by the San Francisco Giants also included an examination of price determinants on the secondary ticket market. In that analysis, home team performance and relative standing were positively correlated with higher secondary ticket market prices (Shapiro and Drayer, 2014). ...
... Two statistical models were produced to introduce daily hashtag mentions as a new variable, which was combined with existing variables identified in Drayer and Shapiro's (2009) first pricing model. Prior literature on price determinants in the primary (Reese and Mittelstaedt, 2001;Rishe andMondello, 2003, 2004) and secondary ticket markets (Drayer and Shapiro, 2011;Shapiro and Drayer, 2014;Dwyer et al., 2013) was also incorporated into the model, which initially included the collection and analysis of 22 potential factors influencing resale price. ...
... Dependent variables measuring the median price of tickets sold on StubHub for the select games, as well as the median price of tickets available on the website, were used for models. Previous literature on secondary ticket prices has relied on both tickets sold as a transacted value to be studied (Dwyer et al, 2013) and available tickets as an indicator of secondary ticket market interest and activity (Shapiro and Drayer, 2014). For the first model, the median price of tickets sold on StubHub in the selected stadium sections for the eight games was used as the dependent variable. ...
The growth and prevalence of sport event ticket transactions on secondary ticket market platforms such as StubHub has led to the creation of a body of academic research studying this new phenomenon. Factors such as team performance and perceptions of fairness have been explored for their relationship with the price of secondary market tickets. This exploratory study introduces a new potential price determinant – social media activity – itself a popular online phenomenon that has inspired considerable academic research. This exploratory study of prices for eight National Football League games adds use of official team hashtags on Twitter to a multiple regression model, controlling for other price determinants established in previous research two models, one to predict prices for tickets sold on StubHub, the second to predict prices for tickets available on StubHub, demonstrate that increased Twitter hashtag use is a significant positive predictor of ticket prices on the secondary market.
... Research in the field of sports has highlighted the significant level of uncertainty associated with pre-sale ticketing, which makes it inherently difficult to predict demand and prices for sports events [5]. This uncertainty is influenced not only by factors related to time and environmental variables (such as temperature, precipitation forecast, time of the event, part of season, weekday/weekend, days before event, etc.) [6], but also by dynamic team and individual performance factors (such as star player injuries, home and team winning percentage, season rankings, playoff contention, etc.) [7,8], which has been found Behav. Sci. ...
... Thus, in the context of pre-sale ticketing, the value of a sport ticket changes constantly, making it challenging for consumers to accurately determine the optimal time to purchase tickets for a sporting event [8]. In a perfect market with complete information, consumers would have access to all the relevant information necessary to make informed decisions about when to purchase sports event tickets [11]. ...
Optimally deciding on the best deal for sport event tickets requires the ability to evaluate risk and make informed decisions in uncertain environments. This study examines how individual trait factors, such as experience, expertise, and involvement, influence consumers’ decision-making process when purchasing tickets online for sporting events. To examine and test the study hypotheses, 640 respondents from a Qualtrics survey panel were recruited from geographically confined subjects of New York City sports fans over a ten-day data collection period. The research subjects were surveyed to assess their perception of the expected likelihood of obtaining event tickets at a lower rate (ELR) and the expected likelihood that tickets would remain available (ETA) as the event day approached. MANOVA showed that there was a significant effect of the time period on the participants’ ETA and ELR risk assessments [Λ = 0.954, F (18, 1262) = 1.653, p < 0.05]. The ETA was highest ten days before the event and lowest the day before the event, with a similar pattern observed for the ELR. The mediation path analysis showed that fan involvement had a strong positive correlation with confidence (B = 0.496, p < 0.001). Confidence, in turn, was a significant predictor of the ELR (B = 5.729, p < 0.05) but not for the ETA (B = 1.516, p = 0.504). The positive mediation of confidence between fan involvement and the ELR indicates that consumers with higher fan involvement tend to have overconfidence in their ability to evaluate the uncertain purchase environment, which ultimately impacts their risk perception and decision-making. The study highlights the importance of considering both temporal and psychological factors when assessing the likelihood of ticket purchases and provides behavioral insights for sports marketers and ticket distributors.
... In general, the resale of tickets usually is observed at professional sports and major collegiate programs (Courty, 2003). Shapiro and Drayer (2012) were pioneers who attempted to identify the influential factors for adopting dynamic pricing in Major League Baseball. Their results of regress analysis found 14 significant variables. ...
... The online survey was carefully developed to ensure content validity and reliability. The ten Likert Scale statements concerning advantages and disadvantages of dynamic pricing were drawn from past literatures (Butler, 2012;Curtis, 2013;Fisher, 2010a;Shapiro and Drayer, 2012) and conversations with three athletic directors and two marketing managers. A panel consisting of an Athletic Director, a Director of Marketing, and two marketing faculty members from the researchers' institution reviewed the survey questions. ...
... However, VTP's prices are set before the season starts and then remain fixed, so they do not reflect actual consumer demand and price inefficiencies may still occur. Even though VTP has the advantage of reflecting game characteristics in the prices, its inefficiency has prepared the way for dynamic ticket pricing (DTP) (Shapiro and Drayer 2014). ...
... Drayer et al. (2012) assessed DTP and explained how it might be appropriate for sporting event tickets. Shapiro and Drayer (2014) analyzed the price determinants for DTP in the primary market, finding that performance-, team-, and time-related factors were the most significant. Kemper and Breuer (2016) proposed a mathematical model for applying DTP to German professional football clubs. ...
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.
... We perform the scheduling through the optimization technique based on mathematical modeling, which is one of the well-known quantitative analysis methods. Such approaches have been used widely in sports management fields, such as the decision of ticket pricing, viability evaluation of professional sports teams, and the development of revenue-sharing policies between players [15][16][17][18]. By reflecting the needs of the fans and the teams, this sustainable sport scheduling approach can maintain its reputation for fairness, as well as the popularity of the KBL [19,20]. ...
... Finally, constraints (41) and (42) mean the binary decision variables while constraint (43) is a nonnegative constraint. 9 ∑ k=1 x i,r,k = 8, ∀i, ∀r 18 ∑ k=10 x i,r,k = 8, ∀i, ∀r (2) x i,r,k + x i ,r,k ≥ 2(y i,i ,r,k + y i ,i,r,k ), ∀i, i ∈ I(i = i), ∀r, ∀k ...
Since the Korea Baseball League (KBL) had nine teams, an odd number, in the 2013 season, one team was unable to compete at certain times in the rotation while the other eight teams played games. Therefore, it was necessary to consider several elements to generate an annual match schedule in terms of team equity. However, the annual match schedule created by the conventional method could not fully reflect the elements regarding team equity, and there were a great many complaints from teams and fans. As a result, applying an optimization technique was decided upon to derive an efficient annual match schedule for the 2014 season. All the required conditions for scheduling are formulated as one or more equations and several parameter values concerning team equity are calculated with the related equations. Due to the complicated scheduling conditions, a sequential solution approach is applied by dividing the overall planning horizon in three parts. The derived annual match schedule was used for the 2014 season after some modifications, and the staff of the KBL was satisfied with the performance of the proposed scheduling methodology. Currently, this sustainable scheduling methodology is still in use to generate an efficient annual match schedule for the KBL.
... Several researchers have examined the impact of particular factors on ticket pricing (Drayer, Rasher, & McEvoy, 2012;Drayer & Shapiro, 2009;Kemper & Breuer, 2015;Paul & Weinbach, 2013;Shapiro & Drayer, 2012;Shapiro & Drayer, 2014), but most of these studies have investigated external market and event related factors. Very few studies (Drayer & Shapiro, 2011;Nalbantis, Pawlowski, & Coates, 2017) have examined the impact of buyer characteristics or traits that may also contribute to the amount of money a sports fan may be willing to spend on tickets purchased within the dynamic secondary market. ...
... Another factor studied is the impact lead time to an event has on the price of tickets in the secondary market. In general, research has found that as the actual event date gets closer, fans expect a greater availability of tickets and expect to pay lower prices on the secondary market (Drayer & Shapiro, 2009;Dwyer, Drayer, & Shapiro, 2013;Shapiro & Drayer, 2012;Shapiro & Drayer, 2014). In addition, fans are more likely to purchase tickets from the secondary market if they know and trust the source, leading to an expectation of fairness with the ticket price (Shapiro, Dwyer, & Drayer, 2016). ...
... In the second case, the time multiplier begins at its lowest level (t 1 ) and, as time passes, it increases to (t 2 ). This case is often stated in the sports literature [19,31]. The logic behind this scenario is offering low prices at the beginning to sell as many tickets as possible. ...
... In the second case, the time multiplier begins at its lowest level (t1) and, as time passes, it increases to (t2). This case is often stated in the sports literature [19,31]. The logic behind this scenario is offering low prices at the beginning to sell as many tickets as possible. ...
This study proposes a mathematical model of dynamic pricing for soccer game tickets. The logic behind the dynamic ticket pricing model is price change based on multipliers which reflect the effects of time and inventory. Functions are formed for the time and inventory multipliers. The optimization algorithm attempts to find optimal values of these multipliers in order to maximize revenue. By multiplying the mean season ticket price (used as the reference price) by the multipliers, dynamic ticket prices are obtained. Demand rates at different prices are needed for the model, and they are provided by a unique fuzzy logic model. The results of this model are compared with real data to test the model’s effectiveness. According to the results of the dynamic pricing model, the total revenue generated is increased by 8.95% and 0.76% compared with the static pricing strategy in the first and second cases, respectively. The results of the fuzzy logic model are also found to be competitive and effective. This is the first time a fuzzy logic model has been designed to forecast the attendance of soccer games. It is also the first time this type of mathematical model of dynamic pricing for soccer game tickets has been designed.
... This process reduces costs and saves the environment, aiding in resource conservation and waste reduction (Jack et al., 2010;Lo and Yu, 2013). Once repaired or refurbished, these products can re-enter the market, often at more affordable prices in secondary markets, providing consumers with a wider range of purchasing options (Shapiro and Drayer, 2014). Secondary markets extend the lifespan of products and significantly reduce the overall environmental footprint (Persson and Hinton, 2023). ...
In the current global landscape where sustainability is increasingly critical, this study offers a significant contribution by redefining supply chain models through the lens of circular economy principles. It introduces a novel two-stage stochastic model tailored to designing sustainable closed-loop supply chains, adept at navigating uncertainties in location, allocation, and routing decisions. A notable feature of the model is its integration of a speed-variant fuel-efficient green vehicle routing system, which enables simultaneous pick-up and delivery, underscoring a commitment to environmental sustainability and circular economy principles. This model is distinct in its holistic approach, balancing total cost considerations with the creation of job opportunities to boost social benefits, while also addressing the pressing issue of fossil fuel consumption's environmental impact. The innovative use of the heuristic backward scenario reduction method to generate stochastic uncertainty scenarios enhances the model's applicability in real-world conditions. The study employs an upgraded ε-constraint method for smaller instances and a range of advanced metaheuristic algorithms, including Non-dominated Sorting Genetic Algorithm II, Multi-Objective Particle Swarm Optimization, Strength Pareto Evolutionary Algorithm version 2, Multi-Objective Evolutionary Algorithm based on Decomposition, and Pareto Envelope based Selection Algorithm II. This research provides critical insights and tools for managers and policymakers, particularly in scenarios where adherence to sustainability and circular economy principles is vital. This study not only advances academic discourse but also offers pragmatic solutions for real-world supply chain challenges, emphasizing the importance of integrating environmental and social considerations into economic decision-making.
... The Giants started using a dynamic pricing model by considering varying player performance, the day of the week, the opposing team, and the weather during the season. As a result, the San Francisco Giants could generate an additional $500,000 in incremental revenue in 2009 and increase their overall revenue by 7% in 2010 (Shapiro & Drayer, 2014). ...
Dynamic pricing describes a pricing strategy to set up highly flexible prices for products and services. Dynamic pricing algorithms adjust prices easily and frequently based on collected consumer data and market information. Dynamic pricing is used in various industries and has the potential to magnify revenues while offering multiple other benefits for companies. This paper analyzes the relevance and importance of dynamic pricing in sports, entertainment, leisure-time activities, hospitalities, and public transportation. For every industry, selected applications, and examples are analyzed. Finally, this paper investigates if dynamic pricing is fair and how customers respond to frequent price changes.
... For example, if a relationship exists between the minimum donation required and the likelihood of a donor giving, development staff could strategically set a minimum gift amount to encourage greater giving or entice more individuals to donate. Sport organizations conduct similar analyses examining ticket sales, with many teams now monitoring and adjusting ticket pricing (particularly on the secondary market) to maximize both revenue and attendance (Drayer et al., 2012;Shapiro & Drayer, 2014). Yet such "pricing" studies within college athletics fundraising are non-existent. ...
Many prior studies examining fundraising within university athletics programs have explored the effect of donor motivations and athletic success on giving, but the current study is the first to examine the impact of price setting and staffing (two factors under the control of athletics administrators) on number of donors. The purpose of the current study was to examine the relationship between (a) minimum gift price point and (b) total number of fundraising personnel, on the total number of donors at the lowest reward tier within NCAA Division I athletics departments. The research team used hierarchical regression to develop four models to examine the relationships between key variables and total number of donors. Independent variables utilized included university conference affiliation, institutional factors, athletic success factors, and the variables of interest, which were minimum gift amount required to join the donor program and the total number of fundraising staff. The dependent variable examined was total number of donors at the lower reward tier. The final model explained 73.1% of the variance in number of donors. The variables of interest (minimum price point and total number of staff) explained 20.8% of the variance when controlling for key factors such as athletic success and conference affiliation.
... European sports clubs follow a conventional approach to pricing (establishing specific amounts for specific services) without adopting a dynamic pricing approach. 10 The experience of US professional leagues and simulations carried out for one of the Bundesliga football clubs indicates that such a measure would increase matchday revenues (Kemper & Breuer, 2016;Shapiro & Drayer, 2012). Hence, Nufer and Fischer (2013) predict that it is only a matter of time until professional sports clubs in Europe also start using this approach. ...
This is the first book to focus on crowdfunding in sport. Crowdfunding is an important new financial instrument that is becoming more popular with sports organisations, and this book examines the research evidence for crowdfunding and considers how it might be successfully implemented.
Presenting international cases and data, including from European football, the book explains how crowdfunding campaigns have to be fully integrated with strategic marketing plans and require a solid understanding of the needs and motivations of potential investors, consumers, and fans. The book sets out a theoretical framework for applying strategic marketing in the context of crowdfunding in sports clubs, introduces the key characteristics of the sports crowdfunding market and funders’ behaviours in the crowdfunding campaigns of sports clubs, examines the market segments of the campaigns’ funders, and presents recommendations for developing marketing-mix programs to target them.
This is important reading for any researcher, advanced student, or practitioner with an interest in sport business, sport marketing, sport finance, consumer behaviour in sport, or entrepreneurship, innovation, or technology in sport.
... European sports clubs follow a conventional approach to pricing (establishing specific amounts for specific services) without adopting a dynamic pricing approach. 10 The experience of US professional leagues and simulations carried out for one of the Bundesliga football clubs indicates that such a measure would increase matchday revenues (Kemper & Breuer, 2016;Shapiro & Drayer, 2012). Hence, Nufer and Fischer (2013) predict that it is only a matter of time until professional sports clubs in Europe also start using this approach. ...
This chapter aims to explore how sports clubs can benefit from crowdfunding by examining their unique nature and challenges. As crowdfunding is primarily a financing tool that requires customer-focused marketing, this chapter addresses a range of related issues: (i) the legal and organisational basis for sports club operations, (ii) sources of funding for both amateur and professional sports clubs, (iii) the place of sports clubs in sports marketing, (iv) the marketing-mix elements that drive sports club activities, (v) the distinctive consumer behaviour of sports club fans, (vi) the profiles of different fan segments, and (vii) the investment decisions related to sports clubs.
... Dazu müssen Determinanten, die die Preisfairness-Wahrnehmung beeinflussen, im Kontext der Seilbahnbranche untersucht werden. Die folgende Tabelle liefert einen Überblick über mögliche Einflussfaktoren, die aus der Grundlagenliteratur, der systematischen Literaturanalyse sowie aus ergänzenden, branchenübergreifenden Quellen abgeleitet worden sind:Alter, Bildungsniveau, HaushaltseinkommenHeo & Lee, 2011; Kimes & Wirtz, 2002;Malc et al., 2016 Preisbezogene EinflussfaktorenRichtung derPreisänderung Campbell, 2007;Choi et al., 2015 Preisimage Campbell, 1999bHomburg & Koschate, 2005a;Leinsle, 2017 Bekanntheit/Vertrautheit/AkzeptanzFassnacht & Mahadevan, 2010;Weisstein et al., 2013;Wirtz & Kimes, 2007;Xia et al., 2004 Grad der PreisänderungHaws & Bearden, 2006;Martin et al., 2009; Rudolph et al., 2019 Motiv/Grund der PreisänderungCampbell, 1999bCampbell, , 1999a Kahneman et al., 1986a;Kukar-Kinney et al., 2007;Lu et al., 2020;Martin et al., 2009;Sahut et al., 2016 Informationsgrad/Preiswissen Fassnacht & Unterhuber, 2016Homburg & Koschate, 2005a;Rothenberger, 2015;Shapiro & Drayer, 2014 Preiskommunikation/PreisdarstellungIsabella et al., 2017;Sahut et al., 2016 Interner/externer Referenzpreis/Ankerpreis Friesen, 2020Preiswürdigkeitsurteil/PreisbewusstseinDiller et al., 2021;Heo & Lee, 2011;Kukar-Kinney et al., 2007;Rothenberger, 2015 Uhrzeit/Tageszeit/Wochenzeit/Ferienzeit Heo & Lee, 2009; Kimes & Wirtz, 2002 Zusatzkosten Kimes & Wirtz, 2003 Transaktionsgleichheit Heo & Lee, 2011; Weisstein et al., 2013; Xia et al., 2004 Im Anschluss an die Bestimmung der möglichen Determinanten auf die Preisfairness werden ausgewählte Faktoren untersucht. Abbildung 7 bietet eine Übersicht aller Hypothesen, die im Folgenden abgeleitet werden. ...
In the alpine skiing industry, the use of dynamic pricing (DP) has increased in recent years. Due to external influencing factors such as climate change, stagnation in demand as well as in skier days and the need to invest in modernization and snow safety, ski lift operators are implementing dynamic pricing. In the short term, this can lead to higher revenues, profits and properly allocate demand. How dynamic pricing affects perception of price fairness and thus long-term business success has hardly been investigated so far.
Therefore, the study is dedicated to the question of which factors influence the fairness perception of dynamic ski pass prices. The influencing factors were derived from price fairness research and hypotheses were formulated based on the literature analysis. To validate the hypotheses, an online survey was conducted in the ski area of the research partner Skicircus Saalbach Hinterglemm Leogang Fieberbrunn. A sample of 1,036 people could be used to analyze the hypotheses.
The results show that dynamic ski pass prices are perceived as unfair compared to the current prices. Correlations between the loyalty of winter sports guests as well as satisfaction with the ski resort and the fairness perception of dynamic ski pass prices can be established. Furthermore, the study provides evidence that daily guests differ significantly from holiday guests and locals in their fairness perception and purchase intention.
Recommendations for action for the ski area are derived from the results of the work. The focus is on communication, diversification of the existing offers and an internal pricing team.
... For example, league officers can use analytics to optimize the competitive balance of their league, which induces viewership (Bouzarth et al., 2020;Mills & Fort, 2014). Enhancing ticket pricing strategies using large data sets and advanced modeling is also popular (Shapiro & Drayer, 2014). This approach involves teams gathering exponentially larger volumes of data (e.g., consumer preferences, time dynamics, seat location, weather patterns, opponent data, roster management) in order to determine the best price points at which to stagger their ticket offerings. ...
Business intelligence (BI) technologies can help firms optimize revenue and expenses if acquired and deployed proficiently. In parallel, the sport industry’s shift toward digitization is being driven by an influx of new, technology-savvy owners and managers. It follows that owners who are business intelligence experts could make their sport organizations more profitable. This paper models 14 years of Major League Baseball data to explore the degree to which owners with business intelligence career experience affect their organization’s operating margin through (a) optimizing revenue and (b) enhancing cost efficiency. It further explores owners’ knowledge accrual as a moderator in this process. Results suggest the effect of business intelligence expertise on margins is positive, but small. Margin increases were attained by spending more efficiently on labor, not by generating more revenue. These mediating effects were moderated by knowledge accrual, such that a longer tenure increased the early-tenure advantages of BI career experience.
... However, the pricing strategy in professional sports has been an under-researched topic until the early 2010s [3,11]. Since then, many scholars have attempted to find the most efficient pricing strategy to maximize teams' revenue from the financial perspective [12][13][14][15][16]. It should be noted that these studies proposed the most profitable pricing strategies from the Managerial perspective. ...
For the sustainable development of the Korean Professional Baseball League (a.k.a., KBO League), it is critical to propose profitable and efficient pricing strategies for each team in the KBO League. Therefore, the purpose of this study was to understand KBO League fans’ perceptions of price sensitivity. More specifically, this study explored how fans’ perceptions of price sensitivity and latitude of price acceptance vary between different loyalty groups. A total of 213 valid responses were recruited from KBO League fans by using a convenience sampling approach. As a result, based on the levels of attitudinal loyalty and behavioral loyalty, fans were classified into four categories: loyal fans, latent fans, spurious fans, and indifferent fans. Moreover, loyal fans were found to be less sensitive to the ticket price increase of different levels (i.e., 10%, 20%, and 30%), followed by latent fans, spurious fans, and indifferent fans. Meanwhile, loyal fans have the highest level of the latitude of price acceptance, followed by latent fans, spurious fan, and indifferent fans. The findings of this study contribute to a better understanding of sport fans’ responses to the change of ticket price and their perceptions of the accepted price range. Meanwhile, this study offers practical implications for marketers of KBO League teams to develop tailored pricing strategies for their fans by considering different loyalty levels.
... Given the suggested reluctance of fans to return to football stadiums when social distancing measures are relaxed, clubs may have to become especially flexible and agile with dynamic ticket pricing to begin with, until they understand how their customer base has altered, learning from the studies of when this has been applied by sports organisations in the past (e.g., Shapiro & Drayer, 2012, 2014, and specifically for football, Kemper & Breuer, 2016. See also Soebbing, 2019, for a survey on the economics of sports ticket pricing). ...
This study looks at stadium attendances in elite-level European football, to suggest how people responded to the initial COVID-19 outbreak. This offers insight into how professional sports will emerge from social lockdowns and competition taking place behind closed doors.
The analysis focuses on the top leagues of England, Italy, France, Spain and Germany. Using panel data methods and exploiting the variation in day-to-day attendances in these leagues, the impacts on implied spectator demand from the news of confirmed COVID-19 cases and deaths can be quantified.
In Italy, England and Germany, stadium attendances were negatively affected by the previous day's newly confirmed domestic cases or deaths. In Spain and France, there was no attendance response to the early stages of the domestic outbreaks.
COVID-19 was affecting football match spectator demand before European countries enforced lockdowns and other restrictions to suppress the spread of the disease. This suggests that fans significantly responded to the risk of catching the virus. If this risk remains when stadiums reopen, then sports organisations should expect reduced ticket demand. This suggests that managers should adopt more dynamic and creative pricing strategies, and use their stadiums in more innovative ways, if they are to survive financially in a world where COVID-19 remains a threat to public health.
... Recently, various works have studied the pricing in secondary market. Shapiro (2009), andDrayer et al. (2012) in their study about NFL, and Shapiro and Drayer (2014) in their study about MLB, used similar variables to primary markets studies such as team sport performance or market attributes. On other hand, they also included others specific variables such as the face value of the ticket, number of transactions and days close to the match. ...
The influence of market size, purchasing power or sport success in sport pricing policies has been studied. However, the influence of competitive balance and clubs’ ownership is still underinvestigated. The present paper covers this gap and study the effect of both of them in the in the price of the season tickets in the teams of the four main European football leagues from 2014 to 2017. The results show that the competitive unbalance of a league has a positive influence on the price of season tickets of the teams. A possible explication is that fan teams paid an extra-price for competing with more powerful teams that can provide ‘stars effect’. The results also show that a bigger concentration in the ownership implies more expensive season tickets. These results are in line with the theory that the participation of customers and stakeholders-oriented owners in firms avoids excessive prices in no competitive situations.
... Quality of the teams, measured as the total budget of both clubs, has a significant positive effect, and the presence of Athletic Club Bilbao, FC Barcelona or Real Madrid as the visiting team has an additional positive effect on the price of the match. This is in accordance with previous results in the ticket pricing literature (Paul & Weinbach, 2013;Shapiro & Drayer, 2014;Kemper & Breuer, 2016). The model was also estimated by using other quality variables like the sum of standings of both teams, as in Artero et al. (2019). ...
We estimate a system of demand equations for three aggregate characteristics of a football game—quality of the teams, outcome uncertainty, and schedule—based on the estimation of a hedonic price model for the ticket price of a football match using data from the Spanish football league. We conclude that all three characteristics are not inferior goods (quality as a luxury), and they are price inelastic, showing some degree of complementarity. Some implications of these results in terms of the measures taken and to be taken by the Spanish association of football clubs (LaLiga) are discussed.
... Given the suggested reluctance of fans to return to football stadiums when social distancing measures are relaxed, clubs may have to become especially flexible and agile with dynamic ticket pricing to begin with, until they understand how their customer base has altered, learning from the studies of when this has been applied by sports organisations in the past (e.g., Shapiro & Drayer, 2012, 2014, and specifically for football, Kemper & Breuer, 2016. See also Soebbing, 2019, for a survey on the economics of sports ticket pricing). ...
This study uses data from elite-level European football matches and panel data methods to suggest how people responded to the initial COVID-19 outbreak. In Italy, England and Germany, stadium attendances were negatively affected by the previous day's newly confirmed domestic cases or deaths. In France and Spain, there was no significant attendance response to the early stages of the domestic outbreaks. In all five countries, there was no negative attendance response to the number of worldwide cases or deaths as the outbreak developed. Overall, these results confirm that COVID-19 was affecting football match spectator demand before European countries enforced lockdowns and other restrictions to suppress the spread of the disease. This suggests that fans significantly responded to the risk of catching the virus. If this risk remains when stadiums reopen, then sports organisations should expect reduced ticket demand.
... Łączą one badania motywacji kibiców z innymi polami czynników ich zachowań. Przykładem jest identyfikowanie się z drużyną (Robinson,Trail 2005), kupowanie gadżetów (Trail, Anderson, Fink, 2002), uczestnictwo w wydarzeniach sportowych (Kruger, Saayman, 2012;Trail, Fink, Anderson, 2003), branie w nich udziału w przyszłości, lojalność wobec drużyny (Fink, Trail, Anderson, 2002) oraz popyt na bilety na mecz, mający wpływ na ich ceny (Kemper, Breuer, 2015;Shapiro, Drayer, 2014). Niezmiernie ważną działalnością kibica jest podróżowanie, z czym wiąże się wiele bodźców sprzyjających uczestnictwu w wydarzeniach sportowych. ...
W artykule przedstawione zostały niepublikowane wyniki badań przeprowadzonych wśród kibiców Mistrzostw Świata w Piłce Siatkowej Mężczyzn w 2014 r. (1618 respondentów bezpośredniego badania kwestionariuszowego). Celem przeprowadzonych studiów było poznanie znaczenia oraz struktury wybranych motywów i barier uczestnictwa w międzynarodowych widowiskach sportowych. Efektem analizy jest uzyskanie informacji o znaczeniu poszczególnych czynników/barier dla respondentów, hierarchii ważności czynników oraz modelu czynnikowego wynikającego ze struktury powiązań korelacyjnych pomiędzy zmiennymi wyjaśniającymi uczestnictwo kibiców w międzynarodowych wydarzeniach sportowych.
... They combine studies of fan motivation with other behavioural factors. Examples include team identification (Robinson, Trail 2005), buying mementoes (Trail, Anderson, Fink, 2002), attending sports events (Kruger, Saayman, 2012;Trail, Fink, Anderson, 2003), future attendance and loyalty to a team (Fink, Trail, Anderson, 2002), demand for match tickets affecting ticket prices (Kemper, Breuer, 2015;Shapiro, Drayer, 2014). ...
The article presents unpublished results of research conducted among fans at the 2014 FIVB Volleyball Men’s World Championship (1618 respondents to a direct questionnaire survey). Its aim is to describe selected motives and barriers to attendance at international sports events. The analysis attempts to obtain information about the importance of particular factors and barriers for respondents, their relative importance and to derive a model from the correlation between these variables to explain the attendance of fans at international sports events.
... It is affirmed that dynamic ticket prices change based on time of ticket purchase, day of game, weather, and seat position in stadium. Stephen L. Shapiro and Drayer (2014) consider price determinants in both primary and secondary markets. Time and ticket related factors and performance factors of team and players are found to be significant. ...
Dynamic pricing has been a prominent research field, and there have been abundant studies conducted related to it. Even though most of them are conducted for hotel and airline industries, the number of studies in sports has been increasing. Especially, after the San Francisco Giants implemented dynamic pricing strategy to 5% of their stadium and generated $500,000 more revenue as the first professional sports team, the number of studies have expanded. However, most of the studies try to identify factors that affect the model. They mostly handle dynamic pricing from a managerial view and/or consider currently available models having been implemented by Major League of Baseball teams. The number of mathematical models of dynamic pricing is insufficient in this field. Sports games attract many spectators, thus it is believed that pricing tickets of them is worth taking into account. As indicated in the literature, dynamic pricing is appropriate for sports industry, and it should be preferred in practice instead of traditional pricing strategies that underprice tickets. This study mainly intends to contribute dynamic pricing in sports, by proposing a mathematical model for tickets of football games. The model is based on a reference price and price multipliers, thus the approach can be customized for clubs. This feature increases chance for success of the approach in practice. The number of assumptions is limited, so the applicability of the model is high. In this study, with the aim of revenue maximization, optimization of the multipliers is the main concern. Since most of the game characteristics of different sports disciplines are in common, the model can be applied to other sports disciplines by making a few changes. According to the results, the revenue is increased compared to the traditional pricing strategies.
... In addition to team performance of home and away teams and time-related variables (e.g. time of game, season), Shapiro and Drayer (2014) showed that ticket-related variables, such as seat location, play an important role. ...
Research question: Do club managers know enough about their spectators? Fan protests against increasing ticket prices in European sports show the ongoing disconnect between fans and clubs. The purpose of this article is to examine sport event spectators’ preferences for tickets and their willingness to pay (WTP) considering innovative ticket features. This research contributes to existing research on spectator segmentation and ticket pricing.
Research methods: This study is the first in sport management literature to apply choice-based conjoint analysis in combination with latent classes. We conduct online surveys of two German basketball clubs and collect data on more than 750 spectators.
Results and findings: Benefit segmentation analyses of both spectator groups lead to four spectator segments each, which differ depending on preferences for opposing teams, seat categories, and WTP. The results show that the prevailing assumption of homogeneous spectator preferences in sport management research leads to estimation bias.
Implications: Spectator preferences are heterogeneous. Therefore, club managers need to know and understand their spectators to better adjust ticket options. Furthermore, the results provide theoretical contributions for spectator segmentation and ticket pricing literature.
... However, since the 2010s a dynamic pricing strategy, where ticket prices fluctuate daily based on changing market conditions, was introduced in sports. Analysis of the price determinants provides ticket sellers a basis on which to set prices, and therefore is critical for revenue generation [52]. For example, the Boston Red Sox baseball team has monitored the flow of fans into the stadium. ...
The explosion of data, with large datasets that are available for analysis, has affected virtually every aspect of our lives. The sports industry has not been immune to these developments. In this article, we provide examples of three types of data-driven analyses that have been performed in the domain of sport: (a) field-level analysis focused on the behavior of athletes, coaches, and referees; (b) analysis of management and policymakers’ decisions; and (c) analysis of the literature that uses sports data to address various questions in the fields of economics and psychology.
... Sweeting (2012) examined transactions in the secondary market for MLB tickets, and found that dynamic pricing increased the average seller's revenue by around 16 per cent. Shapiro and Drayer (2014) examined dynamic pricing in both the primary and secondary markets for MLB, seeking to identify factors that lead to successful dynamic pricing. Their findings are intended to guide managers in selecting a dynamic pricing model based on factors that will lead to increased revenue generation. ...
This paper examines the use of value-based pricing by teams in the four major U.S. professional sports: football, baseball, basketball, and hockey. Much of the literature in value-based pricing applies to industrial markets, while professional sports are primarily an individual consumer market. The web sites of all 122 teams in the four major sports were examined to determine the pricing policy for individual home games during the regular-season. A large majority of teams have adopted value-based pricing, and many have adopted the dynamic form of value-based pricing.
... Similarly, Marriott's successful execution of Revenue Management has added between $150 million and $200 million in annual revenue (Marriott and Cross 2000). More recently, national sports leagues (such as NBA, NHL, MLB clubs) and concert planners have also adopted dynamic pricing to manage demand given limited seats (Shapiro and Drayer 2014, Tereyagoglu et al. 2016, Xu et al. 2016). ...
Congestion pricing provides an appealing solution to urban parking problems. By charging varying rates across areas based on their congestion levels, congestion pricing shifts demand and allows a better allocation of limited resources. It aims to increase the accessibility of highly desired public goods for commuters who value them, and reduce traffic caused by drivers searching for available parking spaces. Using data from the City of San Francisco both before and after a congestion pricing scheme was implemented in 2011, we estimate the welfare implications of the policy. We use a two-stage dynamic search model to estimate consumers' search costs, distance disutilities, price sensitivities and trip valuations. These estimates then allow us to conduct welfare comparisons. We find that congestion pricing increases consumer welfare in popular areas, but when implemented in less-congested areas, it may actually hurt consumer welfare. In one of the districts under study, consumers ended up searching more, parked further away and paid more. Interestingly, despite the improved availability, congestion pricing may actually increase traffic due to cruising (searching for parking), as price sensitive consumers start to search for inexpensive parking spaces, particularly when prices are highly dispersed geographically. Through counterfactual analyses, we find that a simple three-tier pricing policy, which eliminates the search for a lower price, can significantly increase welfare and achieve more than 50% of the welfare increase achieved by a full price information benchmark.
With the advancement made in the field of data analysis, in the last two decades, the economics of ticket pricing in sports have changed considerably. The comprehensive intention of the present study is to develop a robust model to predict the sales of tickets of football matches based on the demand of the game. In the study, a fuzzy IF–THEN rules-based algorithm is proposed to achieve the aims and objectives of the paper. The proposed method is a two-level simulation model. The first level simulates the demand of a football match and the second level simulates the sales of tickets for the match by computing the Multi-Point Characteristics Index (MPCI) value. The factors are categorized into different categories which are expressed with the help of linguistic terms. The uncertainty in the linguistic terms are modeled with the help of triangular fuzzy numbers which are then converted in the crisp form by the center of gravity method. The properties and operations of a are defined in the paper. The proposed fuzzy IF–THEN rules-based algorithm is built for the .
Purpose
Scholars note there are limited studies analyzing ticket price determinants. Using the common seat approach, the authors sought to advance this line of research by analyzing determinants of National Basketball Association (NBA) ticket prices in the secondary ticket market. The authors’ research seeks to ask two questions. The first is how ticket prices in the secondary market are associated with common determinants of consumer demand. The second question is what impact the COVID-19 pandemic has on ticket prices in the secondary market.
Design/methodology/approach
Ticket prices of NBA regular season games in the 2021–2022 season were collected a week before the game day from Ticketmaster.com. A regression model was estimated with a group of independent variables: income, population, consumer preference, quality of viewing, quality of contest and pandemic (the number of COVID-19 cases).
Findings
Results indicate income, population, consumer preferences (e.g. team quality and star players) and quality of viewing (e.g. arena age and weekend) impact prices. Further, the number of COVID-19 cases did reduce the ticket price.
Originality/value
The present study illuminates the theoretical significance of analyzing ticket prices as a proxy of demand in professional sport, while providing practical implications regarding the potential opportunity to increase revenue.
The ticket market for sport events has undergone substantial changes following the emergence of secondary markets (i.e., ticket resale platforms) and changes in consumer preferences. Therefore, the concept of corporate credibility warrants attention in the context of the secondary ticket market, which comprises ticket sellers with varying levels of credibility. Additionally, since secondary ticket companies engage in demand-based pricing, it is critical to measure the effect of ticket prices on the relationship between corporate credibility and purchase intention. In this research we utilize a multi-study design to examine the relationship between corporate credibility and consumers’ purchase intention in the secondary ticket market, as well as the moderating effect of ticket prices. The findings, which run counter to previous literature, suggest that the impact of corporate credibility on purchase intention in the secondary ticket market is negligible.
This paper measures the optimal prices of football tickets and investigates the pricing strategy of the first‐division teams in the Spanish league during the 2018/2019 season. The paper develops a dual hybrid model of supply and demand based on a hedonic price approach. Fans have multiple motivations to attend the stadium, such as the quality of the opposing teams, the pre‐match qualifying position, the schedule, the day of the match, the stadium facilities, and the atmosphere. Their final decision will be conditioned by the price set by the clubs. The data show a difference of almost 300% in ticket prices among clubs. The estimation results from a hedonic price equation reveal that an optimal pricing strategy is followed by only five out of 20 clubs in the league. We also quantify the percentage of overvaluation or undervaluation of ticket prices.
Resumen En el presente artículo se muestra una fotografía del resultado del proceso de venta de entradas del Mundial de Natación, así como se analiza el comportamiento del consumidor en el conjunto de este proceso. Se analizaron descriptivamente 46.181 transacciones para las variables de precio, asistencia, capacidad, disciplina deportiva, horario de competición, momento y canal de compra. Además, se desarrolló un modelo de regresión polinómica que explicó el 48,51% de la variabilidad de entradas vendidas. Gracias a la implementación de una política dinámica de precios, se logró una asistencia del 66,8% con un 53,1% de ventas anticipadas. De media, se compraron 4,22 entradas en cada transacción y una mayor asistencia se relacionó con un mayor volumen de ingresos. Los resultados pueden ser considerados para aplicar medidas en la planificación de la propia competición, así como para la orientación de estrategias comerciales.
Problem definition: Congestion pricing offers an appealing solution to urban parking problems—charging varying rates across time and space as a function of congestion may shift demand and improve allocation of limited resources. It aims to increase the accessibility of highly desired public goods and to reduce traffic caused by drivers who search for available parking spaces. At the same time, complex policies make it harder for consumers to make search-based decisions. We investigate the effect of congestion pricing on consumer and social welfare. Academic/practical relevance: This paper contributes to the theory and practice of the management of scarce resources in the public sector, where welfare is of particular interest. Methodologically, we contribute to the literature on structural estimation of dynamic spatial search models. Methodology: Using data from the City of San Francisco, both before and after the implementation of a congestion-pricing parking program, SFpark, we estimate the welfare implications of the policy. We use a dynamic spatial search model to structurally estimate consumers’ search costs, distance disutilities, price sensitivities, and trip valuations. Results: We find that congestion pricing increases consumer and social welfare by more than 4% and reduces search traffic by more than 10% in congested regions compared with fixed pricing. However, congestion pricing may hurt welfare in uncongested regions, in which the focus should be on increasing utilization. Moreover, an unnecessarily complex congestion-pricing scheme makes it difficult for consumers to make search-based decisions. We find that a simpler pricing policy may yield higher welfare than a complex one. Lastly, compared with a policy that imposes limits on parking durations, congestion pricing increases social welfare by allocating the scarce resource to consumers who value it most. Managerial implications: The insights from SFpark offer important implications for local governments that consider alternatives for managing parking and congestion and for public-sector managers who evaluate the tradeoffs between approaches to manage public resources.
Purpose
The purpose of this study is to examine consumer behaviors toward a bundle of tickets and lodging using two different message framing: (1) scarcity framing for a high demand event, the All-Star Game, and (2) discount framing for a lower demand event, an MLB mid-week game.
Design/methodology/approach
Data were collected through two online surveys of 836 sport consumers in total on Amazon Mechanical Turk (MTurk) and were analyzed using a mix of analysis of variances (ANOVAs) and analysis of covariance (ANCOVA).
Findings
Consumers are likely to buy products separately in a scarce situation. When discounts are offered as benefits of choosing a bundle, consumers with high willingness to pay (WTP) have higher purchase intentions (PI) and perceived value toward cumulative discounts.
Originality/value
This is the one of few studies that investigate (1) price bundling of products from two disparate industries where consumer demands fluctuate, (2) the effects of scarcity in a bundle, and (3) all possible discount messaging in a bundle.
Am Beispiel der Gestaltung von Ticketpreisen im Sport wird in diesem Kapitel gezeigt, dass eine Conjointanalyse sowohl in der Forschung als auch in der Praxis wertvolle Erkenntnisse liefern kann. Zum Einsatz kommt eine Befragung von Besuchern einer Sportveranstaltung, mit der man vor allem klären wollte, welche Segmente sich hinsichtlich der Ticketpräferenzen bilden lassen und wie sich diese Segmente hinsichtlich ihrer Präferenzen und Preisbereitschaften unterscheiden. Abgeleitet werden Handlungsempfehlungen für den Veranstalter, die zu einer verbesserten Ticketpreis-Kalkulation führen und Fanproteste vermeiden helfen können.
Changes in a company's pricing strategy have the potential to influence profitability. Data from choice-based conjoint questionnaire were used to estimate revenue-maximizing dynamic prices accounting for both demand shifting and market expansion. The results show that dynamic prices induce greater demand and could increase revenue by 0.5% to 7.5%. Moreover, skiers have a strong preference and higher willingness-to-pay for good weather-related skiing conditions, suggesting that skiers prefer skiing during the midweek at a higher price, instead of on the weekend, if the skiing conditions are better in the midweek. Relevant implications are provided for practitioners.
The purpose of the current study was to examine the attributes most influential in consumers’ online ticket buying experiences. Using conjoint analysis, eight scenario profiles were created in order to gauge fan preferences when purchasing sport event tickets online. Attributes included (a) timing of ticket purchase, (b) seating availability, (c) price fluctuations, (d) associated fees, (e) number of pricepoints, (f) fraud risk, and (g) price valuation assessment. Data were collected from 469 attendees at a major sport event and part worths for each attribute were calculated to determine which factors held greater importance when all seven were considered concurrently. For the sample overall, results indicated the risk of buying fraudulent tickets was far and away the most influential aspect consumers consider when purchasing sport event tickets online. Comparisons were also made based on whether tickets were purchased from the primary or secondary market, the price paid for the tickets, and the timing of ticket purchase. Results indicated consumer segmentation by these criteria result in distinct buyer profiles.
Major League Baseball (MLB) is facing stiff competition from fast growing global sports, yet little is known about how teams maintain their privileged position in the hearts and minds of fans. In-depth interviews with senior managers were analysed to better understand catalysing factors used by MLB teams to build their brand identity and crystallise the emotional bond with their fans. Moreover, we discuss some innovations that influence a team's ability to make its brand transcend the on-field performance and help create more distinctive marketing strategies.
Major League Baseball (MLB) is facing stiff competition from fast growing global sports, yet little is known about how teams maintain their privileged position in the hearts and minds of fans. In-depth interviews with senior managers were analyzed to better understand catalyzing factors used by Major League Baseball teams to build their brand identity and crystallize the emotional bond with their fans. Moreover, we discuss some innovations that influence a team’s ability to make its brand transcend the on-field performance and help create more distinctive marketing strategies.
Dynamic Pricing – eine Form der Preisdifferenzierung – ist eine Preisstrategie, die auf schwankende Nachfrageniveaus mittels variierender Preise mit dem Ziel der Umsatz- bzw. Gewinnmaximierung reagiert. Die vorliegende Arbeit zeigt, dass Dynamic Pricing nicht nur für touristische Produkte, sondern auch für Tickets für Sportveranstaltungen eine geeignete Preisstrategie darstellt. Da der Erfolg einer Preispolitik neben der objektiven Umsetzbarkeit auch von der Wahrnehmung der Kunden abhängt, untersucht diese Masterarbeit anhand des Beispiels der deutschen Fußball-Bundesliga, welche Faktoren die Fairness-Wahrnehmung von Dynamic Ticket Pricing bei Sportveranstaltungen beeinflussen. Eine quantitative Studie mittels einer standardisierten Online-Befragung unter 595 Teilnehmern kommt zu dem Ergebnis, dass die Bekanntheit von Dynamic Pricing in anderen Branchen, die Fairness-Wahrnehmung von Dynamic Pricing in der Hotellerie bzw. Airline-Industrie, die Informationstiefe über Dynamic Ticket Pricing, das Framing, Preisgarantien für Dauerkarteninhaber, variierende Preise nach Kaufzeitpunkt sowie die Möglichkeit für Schnäppchenpreise auf die Fairness-Wahrnehmung von Dynamic Ticket Pricing einwirken. Zudem haben Konsumentencharakteristika, wie das Geschlecht, das Bildungsniveau, die Häufigkeit von Stadionbesuchen und das Interesse an einem Erst- bzw. Zweitligisten einen signifikanten Einfluss auf diese. Aus diesen Ergebnissen und zusätzlichen Erkenntnissen über die Fairness-Wahrnehmung von in einem möglichen Dynamic Ticket Pricing Algorithmus enthaltenen preisbeeinflussenden Faktoren (n=528) werden Handlungsempfehlungen für die Praxis und künftige Forschungsansätze abgeleitet.
Dynamic pricing – a sort of price differentiation – is a pricing strategy that reacts to varying demand levels by means of fluctuating prices. Dynamic pricing pursues the objective of profit maximisation through its ability to optimise turnover within a business. The present work shows that dynamic pricing is not only an appropriate pricing strategy for tourist products but also for tickets for major sporting events. As the success of a pricing policy both depends on the rational applicability as well as the perception by the consumers, this master’s thesis investigates which factors influence the fairness perception of dynamic ticket pricing on behalf of the German football Bundesliga from the consumers’ perspective. A quantitative approach employing a standardized online survey among 595 participants indicates that familiarity of dynamic pricing in other industries, depth of information about dynamic ticket pricing, framing, price guaranties for season ticket holders, varying prices based on booking time and the possibility of bargain prices affect the fairness perception of dynamic ticket pricing. Furthermore, consumer characteristics like gender, level of education, frequency of attendance in a stadium and interest in a team of the first or second Bundesliga affect the perception. As a result of these outcomes and further findings regarding the fairness perception of various price influencing factors that might be covered in an eventual dynamic ticket pricing algorithm (n=528), guidance for managers and future research approaches is derived.
Despite considerable advances in the application of advanced analytics across the sport industry, sponsorship revenue forecasting still largely relies on a decades-old methodology, the renewal rate. This paper performs the first application of event history analysis (EHA) approaches to quantitatively analyze the duration of Olympic and World Cup sponsorships, to determine not only the percentage of sponsors who renew, but when sponsorships are most likely to continue, when the probability of a sponsorship ending is highest, and their median lifetimes. Consistent with prior applications of exchange theory to the sponsorship business-to-business relationship, results found sponsorships were most susceptible to dissolution within the first two renewal periods, and sponsorship durations differed significantly based on which methodology was applied. Sponsorship revenue projections varied by as much as $100 million depending on the approach, demonstrating the importance of providing sport managers with advanced analytics to assist in the organization’s sponsorship revenue forecasting activities.
This paper presents software designed to aid the interactive management of a statistical analysis. A graphical interface is proposed which allows the analyst to keep track of the analysis and manage it as it is being carried out. The implementation is in an experimental statistical system, but the design principles apply more generally. Interactive command
history lists and object-oriented programming suggest how new statistical environments can evolve from command line interfaces to graphical ones. The design is based on modelling a statistical analysis as a collection of acyclic directed networks. Nodes are `statistical analysis objects' and arcs linking them show how one step in the analysis has led to another. The network modelling the current analysis is continually displayed and the analysis can be carried out by interacting with elements of the display. The analysis management tools and key attributes of this software model are discussed.
Despite the prospective benefits of a revenue management (RM) program, some hotel managers remain concerned that customers perceive RM as being unfair. Studies have shown that offering customers information on a hotel’s pricing practices can enhance their perceptions of fairness. To determine how much and what type of information hotels should provide in this context, researchers administered a scenario-based survey to 120 travelers. The study found that giving would-be guests relatively complete information about how a hotel’s RM policies operate increases their perception of RM’s fairness. The study found that merely letting travelers know that the hotel’s rates vary was not enough to improve customers’ perceptions of fairness (even with a favorable rate). When respondents were also told that rates varied according to day of the week (with weekend rates being lower), length of stay, and how far in advance the reservation was made, their perceptions of fairness improved significantly.
Variable pricing in restaurants—for example, by day part or weekends versus weekdays— is likely to be okay with customers provided the different price schemes seem fair.
Perceived fairness of revenue management (RM) pricing is a serious concern, as RM uses different prices for funda- mentally the same service. The authors examine the effects of familiarity with an RM pricing practice, framing of prices, and fencing condition (i.e., whether a respondent was advantaged or disadvantaged by an RM price) on fairness perceptions. The authors conduct two experiments and find that familiarity moderated the effects of framing and fencing condition on consumers' fairness perceptions. Specifically, framing and fencing condition had strong effects on perceived fairness when respondents were less familiar with a pricing practice. However, when familiar- ity was high, neither the framing nor fencing condition effect was significant. Our findings suggest that familiarity may be a boundary condition for prospect theory.
Restaurateurs seeking to maximize revenues should look carefully at how long their tables are occupied and at how much the average diner spends. This study examines two aspects of the restaurant environment—table type and table location—to determine whether the placement or configuration of a dining table (in particular, whether it has an architectural anchor) has measurable effects on duration and average check, which were combined to show average spending per minute (SPM). An analysis of more than fourteen hundred meal transactions at a 210-seat, casual Mexican-style restaurant found that the SPM for parties at booths was slightly higher than average, while the SPM for diners at banquette tables was below the average. Ironically, tables in poor locations in the dining room generated SPM values higher than supposedly good tables. These findings suggest that restaurant designers reexamine the use of banquettes and not be overly concerned about “bad” tables.
Experience in other industries has shown that revenue management can increase revenue without affecting customer satisfaction. Revenue management, however, is underutilised in the golf industry, as customers are believed to perceive such practices as unacceptable and unfair. This paper explores six revenue management practices that might be suitable in a golf context and examines their perceived fairness. The results show that golfers perceive arrival duration control practices in the form of reservation fees or no-show fees as fair. In addition, it was found that golfers perceive demand-based pricing in the form of coupons (two for the price of one), time-of-day and reduced tee time intervals as fair. Conversely, time-of-booking pricing was perceived as neutral to slightly unfair. Varying price levels were seen as unfair, with potential negative consumer reactions to this practice. Furthermore, the paper explores whether framing demand-based pricing as discounts rather than surcharges would make a difference. It was found that demand-based pricing presented as discounts were generally seen as fairer and therefore less likely to have a negative impact on consumer perceptions and reactions.Journal of Revenue & Pricing Management (2003) 1, 332-344; doi:10.1057/palgrave.rpm.5170037
At the core of revenue management principles lies the concept of demand-based variable pricing. Hotel managers are concerned that pricing hotel rooms according to this concept may alienate customers due to the perceived unfairness of the practice. This study measured the effect of hotel demand-based variable pricing practices on customers' perceptions of fairness. In addition, it examined the moderating effect of information about the hotel's room pricing practices offered to customers at the time of reservation. Contrary to common belief, in most of the scenarios tested, hotel variable pricing practices did not result in lower perceptions of fairness among customers. The practice resulted in significantly lower perceptions of fairness in only one scenario. Moreover, if information on the hotel's room pricing practices was offered to customers at the time of reservation, even that one scenario did not result in lower ratings of perceived fairness.Journal of Revenue & Pricing Management (2004) 2, 303-314; doi:10.1057/palgrave.rpm.5170079
Sport teams have historically been reluctant to change ticket prices during the season. Recently, however, numerous sport organizations have implemented variable ticket pricing in an effort to maximize revenues. In Major League Baseball, variable pricing results in ticket price increases or decreases depending on factors such as quality of the opponent, day of the week, month of the year, and for special events such as opening day, Memorial Day and Independence Day (July 4). Using censored regression and elasticity analysis, this paper demonstrates that variable pricing would have yielded approximately 1.4 million in revenue. The largest percentage revenue gain would have been the San Francisco Giants. The Giants would have seen an estimated 6.7% increase in revenue had they used optimal variable pricing.
We propose that buying- and selling-price estimates reflect a focus on what the consumer forgoes in the potential exchange and that this notion offers insight into the well-known difference between those two types of value assessment. Buyers and sellers differ not simply in their valuation of the same item but also in how they assess the value. Buyers tend to focus on their sentiment toward what they forgo (typically, the expenditure), and buying prices are thus heavily influenced by variables such as salient reference prices. By the same token, sellers tend to focus on their sentiment toward surrendering the item, and selling prices are hence more heavily influenced by variables such as benefits of possessing the item. Four studies examining buying- and selling-price estimates of tickets for National Col- legiate Athletic Association basketball games offer consistent support for these ideas. The studies show that naturally occurring differences among respondents in attitudes relating to the tickets that sellers forgo (e.g., significance of the game) corresponded more closely to variation in selling prices than in buying prices. Conversely, measures relating to the expenditure (e.g., respondents' concern with money) corresponded more closely to buying prices than to selling prices. Using controlled manipulations we then showed that changes in aspects relating to the game (e.g., expected climate in the stadium) affected selling prices more than buying prices, but changes relating to the expenditure (e.g., list price of the ticket) influenced buying prices more than selling prices. We also showed that drawing attention to the benefits of possessing a ticket before asking for the price estimates influenced buying prices more than selling prices, supporting our claim that oth- erwise these benefits are naturally more salient to sellers than buyers. Similarly, drawing attention to alternative uses of money before asking for price estimates influenced selling prices more than buying prices.
The growth of the secondary ticket market has given sport managers a new way to understand consumer demand for tickets. In the secondary market, transaction prices and the number of transactions are highly variable and respond directly to consumer preferences, making it ripe for exploration. Using secondary market data for the NFL provided by a secondary market firm, the purpose of the current study is to understand a variety of traditional sport economics issues such as demand, consumer surplus, and pricing (in)efficiency. Results show that secondary market prices, instead of number of transactions, respond to the factors commonly associated with consumer demand. Further, the data indicate that teams may be able to sell 20,000 additional seats for each game. However, given that teams cannot easily add this number of seats (and may not want to given the NFL's blackout rule), there is approximately $260,000 in consumer surplus per game that is captured by resellers.
In 2010, the San Francisco Giants became the first professional team to implement a comprehensive demand-based ticket pricing strategy called dynamic ticket pricing (DTP). In an effort to understand DTP as a price setting strategy, the current investigation explored Giants' ticket prices during the 2010 season. First, the relationship between fixed ticket prices, dynamic ticket prices, and secondary market ticket prices for comparable seats were examined. In addition, seat location and price changes over time were examined to identify potential effects on ticket price in the primary and secondary market. Giants' ticket price data were collected for various games throughout the 2010 season. A purposive selection of 12 games, which included (N = 1,316) ticket price observations, were chosen in an effort to include a multitude of game settings. Two ANOVA models were developed to examine price differences based on pricing structure, market, section, and time. Findings showed significant differences between fixed ticket prices, dynamic ticket prices, and secondary market ticket prices, with fixed ticket prices on the low end and secondary market ticket prices on the high end of the pricing spectrum. Furthermore, time was found to have a significant influence on ticket price; however, the influence of time varied by market and seat location. These findings are discussed and both theoretical and practical implications are considered.
Yield-management systems have boosted revenue at many properties, but these electronic tools are not always compatible with the operating atmosphere of a hotel. If you want to introduce yield management at your property, you may need to make some changes first
In this paper, I have reviewed the evolution of my research in revenue management and discussed areas for future research. I find revenue management particularly fascinating because of its multifaceted nature. Although many people associate revenue management with quantitative techniques such as forecasting, optimization, and overbooking, this only paints part of the revenue-management picture. Mere possession of a revenue-management system does not guarantee success. For a company to be successful with revenue management, it must have a clear understanding of the needs and price sensitivity of its various market segments, it must be able to fully integrate its revenue management system with other computerized systems, it must be able to properly train and motivate its employees and managers, and it must be able to quickly respond to competitive pressures from other hotels and from different distribution channels.
The seat inventory control component of airline yield management is examined, with an emphasis on the practical aspects of the problem. A survey of current airline practice indicates that seat inventory control is dependent on human judgment rather than systematic analysis. Past work on the development of mathematical methods in this area has focused on large-scale optimization models and simplified representations of the problem. There remains a need for practical solution approaches that incorporate quantitative decision tools.
Recent trends in ticketing, such as dynamic ticket pricing, indicate a fundamental shift towards demand-based pricing strategies. As such, research is needed to understand the factors that may influence the price that consumers are willing to pay for tickets. Using the contingent valuation method (CVM), the current study examined the value that consumers placed on a ticket to a National Basketball Association game. Previous CVM research suggests that valuations differ based on whether the participant is on the buy side or the sell side of the transaction. Therefore, the current study examined the difference between buyer and seller valuations in addition to identifying factors that influenced these valuations. Results indicated a strong difference between buyer and seller valuations, which is consistent with previous CVM studies. Further, the factors that influenced these valuations, including the printed price on the ticket, also differed based on whether the participant was buying or selling the ticket.
This article describes the implementation of a computerized system for making tradeoffs and setting booking limits on future flights at Western Airlines in early 1987. The Expected Marginal Seat Revenue (EMSR) decision model developed for this application takes account of the uncertainity associated with estimates of future demand as well as the nested structure of booking limits in airline reservations systems. The Automated Booking Limit System implemented at Western made use of the EMSR model to set and revise booking limits periodically prior to flight departure. A revenue impact test on a sample of actual flights showed a significant revenue improvement over the judgmental methods used previously.
Pricing is known by economists and managers to be an important tool for increasing revenue and thereby ensuring the success of the company. However, practical experience shows that companies rarely consider the development of a strategic pricing program to be a priority. Furthermore, when times are getting tough, pricing issues tend to be ignored and priority rather given to various cost reduction schemes. In this paper we investigate different pricing strategies and assess their relevance for a segment of the restaurant industry, the pizza chain market. The reported study examines the potential for using pricing strategies as a strategic tool for revenue enhancement, both through increasing the number of customers and by capturing a larger share of the consumer surplus. The findings indicate that there is potential for increased use of several pricing strategies such as price discrimination, peak‐load pricing and bundling. Managerial implications and suggestions for future research are highlighted.
Airlines typically sell their seats for a variety of different fares. If customers make reservations early, low fares might be available, but if customers call at the last minute, they will probably have to pay the full fare. Since deregulation, early all airlines have been using a technique called yield management. Yield management allows the airlines to allocate their fixed capacity of seats in the most profitable manner possible. Since the airline's inventory of seats is perishable, the airlines must have a method of quickly and accurately allocating potential demand to capacity. The airline industry has been in the forefront of using management, but yield management has potential application to any firm constrained by capacity. Other services which have adopted yield management include the lodging, rental car, delivery service, rail and cruise line industries.
The objective of yield management is to maximize the revenue or yield of the firm. A good yield management system will help the firm decide how much of each type of inventory (whether it be seats on an airplane, rooms in a hotel, or cars in a rental car fleet) to allocate to different types of demand. This article attempts to structure the concept of yield management by reviewing current literature, classifying types of solution approaches, discussing the managerial implications of yield management and presenting a future research agenda. While corporate research on yield management has been performed, most firms are understandably reluctant to share the results of their research with others. Operations management researchers could assist small and medium sized capacity‐constrained firms by developing simple and accurate yield management techniques. The intent of the paper is to focus attention n the yield management and stimulate practical and theoretical research in this area.
Revenue management (RM) has been an essential strategy to maximize revenue for many capacity-limited service industries. Considering the common industry characteristics of traditional RM industries, the nature of the theme park industry suggests potential for enhancing revenue by exercising a variety of RM techniques. This study suggests practices for theme park operators for successful RM application. In addition, this study examines how customers perceive RM practice in the theme park industry compared to a traditional RM industry, hotel industry. The findings indicate that customers seem to perceive RM practice in the theme park industry as relatively fair practices as similarly perceived for the hotel industry. The findings are encouraging for the theme park industry because a relatively similar level of its customers’ perceived fairness of the RM practice compared to the hotel industry suggests that adoption and implementation of the RM practice has great potential to become successful as it has been in traditional RM industries, such as hotels.
Ticket prices: Get set for big swings. The Kansas City Star
- M Hendricks
Hendricks, M. (2013 March 30). Ticket prices: Get set for big swings. The Kansas City Star Retrieved April 2, 2013, from http://www.kansascity.com/2013/03/30/
4153039/royals-ticket-prices-get-set-for.html.
Dynamic pricing is new trend in ticket sales. ESPN Playbook Retrieved from http://espn.go.com/blog dynamic-pricing-is-new-trend-in-ticket-sales
- D Williams
Williams, D. (2012, April 23). Dynamic pricing is new trend in ticket sales. ESPN Playbook Retrieved from http://espn.go.com/blog/playbook/dollars/post/_/id/597/ dynamic-pricing-is-new-trend-in-ticket-sales.
Using multivariate statistics Boston, MA: Pearson Education
- B G Tabachnick
- L S Fidell
Tabachnick, B. G., & Fidell, L. S. (2007). Using multivariate statistics (5th edn.). Boston, MA: Pearson Education. Top Seller Rankings. (2012). Ticket News Retrieved from http://www.ticketnews.com/ticket_industry_rankings.
Buying tickets: Capturing the dynamic factors that drive consumer purchase decision for sporting events
- W W Moe
- P S Fader
- B Kahn
Moe, W. W., Fader, P. S., & Kahn, B. (2011). Buying tickets: Capturing the dynamic factors that drive consumer purchase decision for sporting events. Presentation at
the MIT Sloan Sports Analytics Conference.
Ticket challenge: Getting the price right Changing ticket prices in sports fans' futures
- B King
King, B. (2012, March 19). Ticket challenge: Getting the price right. Sport Business Journal Retrieved from http://www.sportsbusinessdaily.com/Journal/Issues/ 2012/03/19/In-Depth/Ticket-pricing.aspx. S.L. Shapiro, J. Drayer / Sport Management Review xxx (2013) xxx–xxx Mamudi, S. (2011, March 11). Changing ticket prices in sports fans' futures. Market Watch – The Wall Street Journal Retrieved from http://articles.marketwatch. com/2011-03-11/general/30713037_1_ticket-prices-variable-pricing-game-tickets.
San Francisco Giants, Qcue enjoying the successes of dynamic ticket pricing. Ticket News Retrieved from http://www.ticketnews.com/ news/San-Francisco-Giants-Qcue-enjoying-the-successes-of-dynamic-pricing06915555
- T Fraser
Fraser, T. (2009, June 15). San Francisco Giants, Qcue enjoying the successes of dynamic ticket pricing. Ticket News Retrieved from http://www.ticketnews.com/ news/San-Francisco-Giants-Qcue-enjoying-the-successes-of-dynamic-pricing06915555..
SahinSport event revenue management with consumer resalePresentation at the MIT Sloan Sports Analytics Conference2012
- Y Cuii
- Duenyaso
Cui, Y., Duenyas, I., & Sahin, O. (2012). Sport event revenue management with consumer resale. Presentation at the MIT Sloan Sports Analytics Conference.
Changing ticket prices in sports fans' futures. Market Watch – The Wall Street Journal Retrieved from http://articles.marketwatch. com/2011-03-11/general/30713037_1_ticket-prices-variable-pricing-game-tickets
- S Mamudi
Mamudi, S. (2011, March 11). Changing ticket prices in sports fans' futures. Market Watch – The Wall Street Journal Retrieved from http://articles.marketwatch.
com/2011-03-11/general/30713037_1_ticket-prices-variable-pricing-game-tickets.
Discovering statistics using SPSS Forty Under 40
- A Field
Field, A. (2009). Discovering statistics using SPSS. London: SAGE Publications Ltd.
Forty Under 40. (2011, March). Sports Business Journal, 13(6), 1–50.
Ticket challenge: Getting the price right
- King
King, B. (2012, March 19). Ticket challenge: Getting the price right. Sport Business Journal Retrieved from http://www.sportsbusinessdaily.com/Journal/Issues/
2012/03/19/In-Depth/Ticket-pricing.aspx.
San Francisco Giants, Qcue enjoying the successes of dynamic ticket pricing
- Fraser
Fraser, T. (2009, June 15). San Francisco Giants, Qcue enjoying the successes of dynamic ticket pricing. Ticket News Retrieved from http://www.ticketnews.com/
news/San-Francisco-Giants-Qcue-enjoying-the-successes-of-dynamic-pricing06915555..
Changing ticket prices in sports fans’ futures
- Mamudi
Mamudi, S. (2011, March 11). Changing ticket prices in sports fans' futures. Market Watch -The Wall Street Journal Retrieved from http://articles.marketwatch.
com/2011-03-11/general/30713037_1_ticket-prices-variable-pricing-game-tickets.
Using multivariate statistics (5th edn
- B G Tabachnick
- L S Fidell
Tabachnick, B. G., & Fidell, L. S. (2007). Using multivariate statistics (5th edn.). Boston, MA: Pearson Education.
Top Seller Rankings. (2012). Ticket News Retrieved from http://www.ticketnews.com/ticket_industry_rankings.
Dynamic pricing is new trend in ticket sales
- Williams
Williams, D. (2012, April 23). Dynamic pricing is new trend in ticket sales. ESPN Playbook Retrieved from http://espn.go.com/blog/playbook/dollars/post/_/id/597/
dynamic-pricing-is-new-trend-in-ticket-sales.
Sport event revenue management with consumer resale
- Cui
Buying tickets: Capturing the dynamic factors that drive consumer purchase decision for sporting events
- Moe
Qcue enjoying the successes of dynamic ticket pricingTicket News2009
- T.Frasersan Francisco Giants
S.FidellUsing multivariate statistics5th edn
- B G Tabachnickl
WirtzPerceived fairness of demand-based pricing for restaurantsCornell Hotel and Restaurant Administration Quarterly43120023137
- S E Kimesj
MattilaImpact of information on customer fairness perceptions of hotel revenue managementCornell Hotel and Restaurant Administration Quarterly46420052735
- S S Choia