Dynamic pricing has been in effect with airline companies and other industries for many years but has relatively recently been applied to sporting events. In order to maximize revenue, many teams use dynamic pricing, which depends upon a variety of factors. This project aims to find the factors that most affect a change in price, as well as develop the ideal algorithm that maximizes a team's revenue while pricing.
My project on analyzing attendance and ticket prices is a product of my interest for the two fields it combines, sports and business. I have always been interested in finance, marketing and economics, and have also always had a love for sports. The sports industry is a billion-dollar industry that has a wide reach. Through AAR, I was able to combine these two subjects into a meaningful project on factors that affect ticket prices.