The only constant in life is change, the Greek philosopher Heraclitus famously said. When it comes to prices for goods and services online, sometimes the changes happen so fast it feels as though the ground is moving beneath you, whether you need a ride home and Uber fares double in a matter of minutes or the price for an airline ticket you’ve been eyeing for a much-needed vacation skyrockets overnight.
These shifts come courtesy of a strategy known as dynamic pricing. Often shaped by algorithms that work behind the scenes, prices fluctuate to maximize the seller’s profits.
