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Dynamic Pricing in a Competitive Environment

Author(s)
Perakis, Georgia; Sood, Anshul
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Abstract
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.
Date issued
2002-01
URI
http://hdl.handle.net/1721.1/3999
Series/Report no.
High Performance Computation for Engineered Systems (HPCES);
Keywords
pricing, competition, dynamic programming

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