Then auctions like eBay are another example of dynamic pricing.

But there are two types of prices.

And you know that it's going to be 100.

It turns out we made this pretty easy.

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

There's no haggling.

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

But anyway, the whole point of this video is, is when you have these asset bubbles, like in real estate, and you have this downplaying of risk, and this psychology that an asset class can only go up.

Set a price for this item

Preston promised his car would sell for 1,000.

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.

Let's take a look.

Price

They just have it around.

licensing and intermediation and direct sales, etc.

One is fixed prices.

But there's another type of pricing.

What s the revenue stream. That s our strategy.

Cost plus market, value pricing, and volume price are all examples of fixed pricing tactics.

It should be a value based decision.

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

In companies do you know how much each individual department can sign off for?

Well, let's put a tax on oil that is a non revenue tax, and it basically says for the next 20 years, the price of oil will be whatever you want, 35 bucks, 40 bucks.

And then kind of the third common errors, my price hast to be less than my competitor's price.

What was the market size? What share could you take?

Par value

Redemption

Present value

Present values

Future value

Dr. Price?

Wenneck, Price, Garner.

But how do you think about pricing itself?

The stock market is a real time market.

Alright?

We are essentially saying the demand, the Price Quantity demanded relationship is held constant and we can pick a price and we'll get a certain quantity demanded.

We study again our die. You observe the following sequence 1, 2, 3, 2.

That's a mistake.

It's not about low cost.

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Supposed suicide.

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

Here's how it is. It's the fixed price.