Journal ArticleDOI
Dynamic Pricing in the Presence of Inventory Considerations: Research Overview, Current Practices, and Future Directions
Reads0
Chats0
TLDR
In this paper, a review of the literature and current practices in dynamic pricing is presented, where the focus is on dynamic (intertemporal) pricing in the presence of inventory considerations.Abstract:
The benefits of dynamic pricing methods have long been known in industries, such as airlines, hotels, and electric utilities, where the capacity is fixed in the short-term and perishable. In recent years, there has been an increasing adoption of dynamic pricing policies in retail and other industries, where the sellers have the ability to store inventory. Three factors contributed to this phenomenon: (1) the increased availability of demand data, (2) the ease of changing prices due to new technologies, and (3) the availability of decision-support tools for analyzing demand data and for dynamic pricing. This paper constitutes a review of the literature and current practices in dynamic pricing. Given its applicability in most markets and its increasing adoption in practice, our focus is on dynamic (intertemporal) pricing in the presence of inventory considerations.read more
Citations
More filters
Journal ArticleDOI
On the Relationship Between Pricing and Capacity Decisions in Inventory Systems with Stochastic Demand
Gad Allon,Assaf Zeevi +1 more
TL;DR: In this paper, the authors address the simultaneous determination of pricing and capacity investment strategies in a multi-period setting under demand uncertainty and investigate the relationship between the main strategic decision variables: price and capacity.
Using competition and market information to optimize a tour operator’s pricing decisions
TL;DR: In this article, the Dependent Region Dynamic============Pricing (DRDP) model is proposed for tour operators. And the DRDP model can be used for the dynamic pricing decision of products which make use of both flight and hotel capacities.
Journal Article
Review of Diffusion Research
TL;DR: This article reviews the literature on diffusion research in a broad and general context and finds that there is no quantitative review study that covers this subject in a general context.
References
More filters
Book
The Economics of Welfare
TL;DR: Aslanbeigui et al. as mentioned in this paper discussed the relationship between the national dividend and economic and total welfare, and the size of the dividend to the allocation of resources in the economy and the institutional structure governing labor market operations.
Journal ArticleDOI
A New Product Growth for Model Consumer Durables
TL;DR: A growth model for the timing of initial purchase of new products is developed and tested empirically against data for eleven consumer durables, and a long-range forecast is developed for the sales of color television sets.
Book ChapterDOI
A new product growth model for consumer durables
TL;DR: In this article, a growth model for the timing of initial purchase of new products is proposed, and a behavioral rationale for the model is offered in terms of innovative and imitative behavior.
Posted Content
Auctions and Bidding
R. Preston McAfee,John McMillan +1 more
TL;DR: Hayek as mentioned in this paper argued that the problem of rational economic order is determined by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess.
Journal ArticleDOI
Noncooperative collusion under imperfect price information
Edward J. Green,Robert H. Porter +1 more
TL;DR: In this paper, the authors examine the nature of cartel self-enforcement in the presence of demand uncertainty and present a model of a non-cooperatively supported cartel, and the aspects of industry structure which would make such a cartel viable.
Related Papers (5)
Optimal dynamic pricing of inventories with stochastic demand over finite horizons
Commissioned Paper: An Overview of Pricing Models for Revenue Management
Gabriel R. Bitran,René Caldentey +1 more