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NO. This is a specific example of prices NOT working in both directions — the airline using AI and massive data sets about the individual buyers is EXPLOITING
by toss1 1y ago
NO.
This is a specific example of prices NOT working in both directions — the airline using AI and massive data sets about the individual buyers is EXPLOITING INFORMATION ASYMMETRIES to extract the maximum payment available from each individual buyer — in exactly the situation where the buyers have no such leverage.
It would be working in both directions if all customers had equal opportunities to buy at openly known prices. The above is not an open and free market where buyers are knowingly bidding up or down prices of seats.
Maximizing exploitation of each individual customer is NOT price discovery; it is only discovery of how well they can screw each individual customer by exploiting info asymmetries and presenting skewed options.