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...
| Үндсэн зохиолч: | |
|---|---|
| Формат: | Journal article |
| Хэвлэсэн: |
Oxford University Press
2019
|