{"id":1936,"date":"2019-11-08T04:46:03","date_gmt":"2019-11-08T04:46:03","guid":{"rendered":"https:\/\/the7.io\/company\/?post_type=dt_portfolio&#038;p=1936"},"modified":"2022-08-21T15:52:03","modified_gmt":"2022-08-21T15:52:03","slug":"buy-back-tickets-mechanism","status":"publish","type":"dt_portfolio","link":"http:\/\/mktwiseanalytics.com\/?dt_portfolio=buy-back-tickets-mechanism","title":{"rendered":"Buy-back Tickets Mechanism"},"content":{"rendered":"<p>[vc_row][vc_column]<div id=\"ultimate-heading-2146a1a22d29b570\" class=\"uvc-heading ult-adjust-bottom-margin ultimate-heading-2146a1a22d29b570 uvc-2202  uvc-heading-default-font-sizes\" data-hspacer=\"no_spacer\"  data-halign=\"left\" style=\"text-align:left\"><div class=\"uvc-heading-spacer no_spacer\" style=\"top\"><\/div><div class=\"uvc-sub-heading ult-responsive\"  data-ultimate-target='.uvc-heading.ultimate-heading-2146a1a22d29b570 .uvc-sub-heading '  data-responsive-json-new='{\"font-size\":\"\",\"line-height\":\"\"}'  style=\"font-weight:normal;\"><\/p>\n<h2 style=\"text-align: center;\">Buy-Back Tickets Mechanism<\/h2>\n<p><\/div><\/div>[vc_empty_space][vc_column_text css=&#8221;.vc_custom_1661097118262{padding-bottom: 30px !important;}&#8221;]<\/p>\n<p style=\"text-align: left;\">Many industries sell non-refundable tickets and customers purchase well in advance of their usage date.<span class=\"Apple-converted-space\">\u00a0 <\/span>For instance items such as concert and museum exhibition tickets, train and airline tickets, are usually non-refundable.<span class=\"Apple-converted-space\">\u00a0 <\/span>On the other hand, letting capacity go to waste is not appealing either. <span class=\"Apple-converted-space\">\u00a0 <\/span>What if the provider is able to buy back the tickets if the demand only for events when demand is high?<\/p>\n<p style=\"text-align: left;\">In this project we developed a mechanism for such buy-backs, where the firm forecasts demand accurately and sets a buy-back price for certain high-demand dates for anyone willing to sell their seats back.<span class=\"Apple-converted-space\">\u00a0 <\/span>The mechanism takes into account behavioural issues such as gaming and blocking.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morbi at laoreet mauris.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","template":"","dt_portfolio_category":[28],"dt_portfolio_tags":[],"_links":{"self":[{"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=\/wp\/v2\/dt_portfolio\/1936"}],"collection":[{"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=\/wp\/v2\/dt_portfolio"}],"about":[{"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=\/wp\/v2\/types\/dt_portfolio"}],"author":[{"embeddable":true,"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1936"}],"version-history":[{"count":8,"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=\/wp\/v2\/dt_portfolio\/1936\/revisions"}],"predecessor-version":[{"id":4194,"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=\/wp\/v2\/dt_portfolio\/1936\/revisions\/4194"}],"wp:attachment":[{"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1936"}],"wp:term":[{"taxonomy":"dt_portfolio_category","embeddable":true,"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fdt_portfolio_category&post=1936"},{"taxonomy":"dt_portfolio_tags","embeddable":true,"href":"http:\/\/mktwiseanalytics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fdt_portfolio_tags&post=1936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}