HOW IS PRICE RATIONALIZATION AFFECTING THE INTERNET?
Rational Pricing leads to the development of Dynamic Pricing Models, which has a major impact in the internet.ording to Mary Diffley, author of Internet Prophets, “new, much less intuitive pricing mechanisms are appearing on the Internet […] the Internet gives customer the power to set the rules” (85). The endless possibilities of more pricing mechanisms appearing are formed by the numerous amount of resources that buyers and consumers use to determine the value of products. Rational pricing, in this sense, has played a big factor in the creation of pricing mechanisms. Unbelievably, the Internet played a major role as well. The Internet has allowed this to happen by displaying the given value of these products, making it available for anyone throughout the world to witness and record. Therefore, with the availability of prices at hand, creating ways in how to “price” products is all that is need to be done. For example, customers may propose various prices for products, depending on
