What is 'dynamic pricing,' and why are Oasis fans furious about it?

Thousands of Oasis fans waited long hours in virtual queues this weekend to get their hands on tickets for the British band's reunion shows in the U.K. next summer, only to find that prices had been hiked as part of a "dynamic pricing" scheme. So how does this pricing model work?

What is 'dynamic pricing,' and why are Oasis fans furious about it?
Two men play instruments and sing.

Thousands of Oasis fans waited long hours in virtual queues this weekend to get their hands on tickets for the British band's reunion shows in the U.K. next summer, only to find that prices had been hiked as part of a "dynamic pricing" scheme. So how does this pricing model work?