System and Method for Dynamically Pricing Event Tickets
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United States of America Patent
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Issued Date -
Dec 3, 2020
app pub date -
May 31, 2019
filing date -
May 31, 2019
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Abstract
A method and system of dynamically pricing tickets for an event is disclosed herein. A computing system retrieves historical pricing information for a given team. The historical pricing information includes ticket sale information for a plurality of events. The computing system generates a predictive model using a machine learning model. The computing system receives a set of tickets for an upcoming event. The upcoming event is between the given team and an opponent. The computing system generates, via the predictive model, an event score and a spring value for the upcoming event based on historical ticket sale data for the given team, team-specific information, and opponent-specific information. The computing system constructs a price for each ticket in the set of tickets based on parameters of each ticket, the event score, and the spring value.
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