SYSTEM AND METHOD FOR GENERATING PREDICTIONS OF PRICE AND AVAILABILITY OF EVENT TICKETS ON SECONDARY MARKETS

摘要

A system and method is provided for predicting future price and availability of event tickets on the primary and secondary market and providing buyers with a recommendation as to when to purchase the event tickets at the lowest possible cost or, for sellers, when to sell the tickets at the highest possible price. Data is collected and used to generate statistics about the historical price and availability of event tickets. This data is further used to provide forecasts about the future price and availability of event tickets, including the probability of a sell out for events currently on sale and events not yet on sale. The system makes predictions by differentially weighing factors, both economic and non-economic, that influence the price trajectory and availability of event tickets. The system further includes a self-training mechanism that evolves behaviors based on previous price predictions thereby increasing the systems ability to accurately predict future event ticket prices.