191
this post was submitted on 29 Aug 2023
191 points (96.1% liked)
Technology
59086 readers
3496 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Airline ticket prices do resemble futures or options contracts a bit, though, in that they have a relationship to a certain date, and once past that date they are worthless. Furthermore, futures contracts on commodities (like FCOJ, right, Winthorpe?) are also subject to catastrophic yearly weather events that can wipe out a whole crop.
I think its naive to assume the Quants can't model airline prices given the massive amount of historical data ITA and Google have.
They can model the airline prices.
What they can't do is predict how they will change in response to customers having the data now.