A new way to profit: Predictive analytics and dynamic pricing
summary
Dynamic pricing framework that scrapes competition with crawlers, recognizes competitor strategies, runs per-listing booking-probability ML models and time-series forecasts, and pushes prices via a repricing engine; claims Airbnb trains a model per listing—4 million hosts—and uses a Smart Pricing pipeline that applies bounds and booking-probability optimization. Examples include electricity demand-response with hourly smart-meter pricing and the notorious $23 million book glitch caused by algorithmic price wars; anti-bot defenses and consent rules shape what data can be used.
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chapters (4)
- 0:00Start
- 5:20Motivation
- 19:12Predictive Pricing at Marketplace: Airbnb Case
- 28:26Dynamic pricing: Is it legal?
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