Dynamic pricing models in modern taxi booking applications

  What does dynamic pricing really mean in taxi apps? When you're trying to book a taxi and suddenly the price jumps, it can feel a bit confusing or even unfair. One minute the ride seems cheap, and then just by refreshing or waiting for a few seconds, the price goes higher. But there’s actually a good reason behind it, and it all comes down to something called dynamic pricing. It might sound like a complicated business term, but really, it just means the price goes up or down based on certain things like how many people want a ride at the same time or how many drivers are available near you. Dynamic pricing models in modern taxi booking applications Taxi booking apps use dynamic pricing to manage how many drivers are on the road and how many riders are waiting. If a lot of people are trying to get a ride, especially during busy hours or bad weather, the app increases prices to encourage more drivers to come online. It’s like when a store has a sale to attract more customers, exce...