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What is the cheapest possible way of getting from New York City to Los Angeles without breaking the bank?

The concept of airfare elasticity: The price of a flight is not solely determined by the distance between the two cities, but also by the demand and supply of seats.

This concept is known as airfare elasticity (1).

The "Best Fare" theory: Airlines use fare optimization algorithms to determine the optimal price for a ticket.

This theory suggests that the cheapest flights are often booked in advance, on off-peak days, and during non-peak travel seasons (2).

The 76-day rule: Research suggests that the cheapest time to book a flight is 76 days in advance (3).

The "Wharton formula" for calculating the cheapest flights: This formula takes into account the number of seats available, passenger demand, and airline pricing strategies (4).

The science of fare regression: Fare regression analysis helps airlines predict and adjust their prices based on demand, competition, and other factors (5).

The power of budget airlines: Low-cost carriers can offer significantly cheaper flights, but often with compromises on amenities (6).

The benefits of using Google Flights: This search engine specializes in finding the cheapest flights and offers features like "cheapest month" and "whole month" options (7).

The hidden city fare: Booking a flight that ends at a different airport can sometimes be cheaper than booking a direct flight (8).

Price anchoring: Airlines often use price anchoring to persuade customers to book more expensive flights (9).

The importance of flexibility: Being flexible with travel dates, destinations, and flight times can significantly reduce the cost of a ticket (10).

The concept of the "optimal flyer": Airlines use data analysis to predict passenger behavior and optimize their pricing strategies (11).

The role of credit card rewards: Credit card rewards programs can help offset the cost of flights when used strategically (12).

The debate over the benefits of booking early: Some experts argue that booking early can actually increase the cost of a flight due to the airlines' "yield management" strategies (13).

The science behind seat pricing: Airlines use complex algorithms to determine seat prices based on factors like demand, competition, and yield management (14).

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