Trusting an algorithm to make pricing decisions can be intimidating. But a recent study published by the University of Pennsylvania’s Wharton School shows that “algorithm aversion” is normal and can be overcome.
When implemented with accessibility in mind, dynamic pricing provides opportunity to offer lower prices, to increase attendance during off-peak periods for attractions. Zoos, aquariums and museums with a community focus can use this insight to increase public accessibility to their attraction.
Dynamic pricing is a new enough innovation, made possible through modern technology, that even some pricing “experts” suffer from misconceptions about it. Learn four of the most common myths about dynamic pricing and why they shouldn’t prevent your attraction from changing with the times.