Then auctions like eBay are another example of dynamic pricing.

Expectations... Expectations... of future prices. So let's say...

When everything else is equal and you're only changing price, you're not changing demand.

Now remember the only thing we're varying here is the price.

The price of gold fluctuates daily.

Pay careful attention the next time you read the financial news.

But there's another type of pricing.

If you ever think about it, pricing that you negotiate yeah, we kind of have this price on paper, but that's just the starting point of the conversation.

The price varies with demand.

He put up a notice about the change in price.

That just means that the last three yield management, real time, and auctions are examples of dynamic pricing.

So let's talk about our first scenario here, where let's say this curve, people didn't expect prices to change for my e book and now all of a sudden, people expect there's a change in expectation.

We've been talking about the law of demand and how if we hold all else equal, a change in price, price goes up, the quantity demanded goes down and the price goes down, the quantity demanded goes up.

We found a couple of really interesting things.

And this is one of those conventions of economics that I am not a fan of, because people often talk about changing the price and how the quantity demanded changes from that.

Price

The stock market is a real time market.

'That' has only the two cases, nominative and objective, and it does not inflect depending on the case.

They want to encourage high volume purchases, and so they have stepped pricing that is oriented to create volume.

So, the fourth sort of post crisis consumerism that we see is this movement about return to the fold.

That's dynamic pricing.

And so the first of these that I will focus on the first is the price of competing products.

For any given price, it's going to lower the quantity demanded.

Let's say a guy invents a better light bulb.

The price of admission.

Par value

Redemption

Present value

Present values

Future value

Dr. Price?

Wenneck, Price, Garner.

How does that change demand?

Specifications and price are subject to change.

I could actually price on specific customer segments or on features I know they need.

How could you have prices that kind of move?

You would be correct that Company B was cheaper.

The prices of commodities varied every week then.

Alright?

That is Scenario E.

It turns out we made this pretty easy.

It's not about low cost.

It has been made possible, by the way, for certain other different reasons.

And finally, American families also pay a price for oil.

It's the best price that someone's willing to give you for something.