Dynamic pricing in retail with diffusion process demand
When randomness in demand affects the sales of a product, retailers use dynamic pricing strategies to maximize their profits. In this article, we formulate the pricing problem as a continuous-time stochastic optimal control problem and find the optimal policy by solving the associated Hamilton–Jacob...
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| स्वरूप: | Journal article |
| प्रकाशित: |
Oxford University Press
2019
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