Dynamic Pricing in a Competitive Environment
We present a dynamic optimization approach for perishable products in a competitive and dynamically changing market. We build a general optimization framework that ties together the competetive and the dynamic nature of pricing. This approach also allows differential pricing for large customers as...
| Main Authors: | , |
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| Format: | Article |
| Language: | en_US |
| Published: |
2003
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| Subjects: | |
| Online Access: | http://hdl.handle.net/1721.1/3999 |
| _version_ | 1811088080812113920 |
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| author | Perakis, Georgia Sood, Anshul |
| author_facet | Perakis, Georgia Sood, Anshul |
| author_sort | Perakis, Georgia |
| collection | MIT |
| description | We present a dynamic optimization approach for perishable products in a competitive and dynamically changing market. We build a general optimization framework that ties together the competetive and the dynamic nature of pricing. This approach also allows differential pricing for large customers as well as demand learning for the seller. We analyze special cases of the model and illustrate the policies numerically. |
| first_indexed | 2024-09-23T13:55:56Z |
| format | Article |
| id | mit-1721.1/3999 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T13:55:56Z |
| publishDate | 2003 |
| record_format | dspace |
| spelling | mit-1721.1/39992019-04-12T08:08:40Z Dynamic Pricing in a Competitive Environment Perakis, Georgia Sood, Anshul pricing competition dynamic programming We present a dynamic optimization approach for perishable products in a competitive and dynamically changing market. We build a general optimization framework that ties together the competetive and the dynamic nature of pricing. This approach also allows differential pricing for large customers as well as demand learning for the seller. We analyze special cases of the model and illustrate the policies numerically. Singapore-MIT Alliance (SMA) 2003-12-23T02:18:02Z 2003-12-23T02:18:02Z 2002-01 Article http://hdl.handle.net/1721.1/3999 en_US High Performance Computation for Engineered Systems (HPCES); 623746 bytes application/pdf application/pdf |
| spellingShingle | pricing competition dynamic programming Perakis, Georgia Sood, Anshul Dynamic Pricing in a Competitive Environment |
| title | Dynamic Pricing in a Competitive Environment |
| title_full | Dynamic Pricing in a Competitive Environment |
| title_fullStr | Dynamic Pricing in a Competitive Environment |
| title_full_unstemmed | Dynamic Pricing in a Competitive Environment |
| title_short | Dynamic Pricing in a Competitive Environment |
| title_sort | dynamic pricing in a competitive environment |
| topic | pricing competition dynamic programming |
| url | http://hdl.handle.net/1721.1/3999 |
| work_keys_str_mv | AT perakisgeorgia dynamicpricinginacompetitiveenvironment AT soodanshul dynamicpricinginacompetitiveenvironment |