Topic
Dynamic pricing
About: Dynamic pricing is a research topic. Over the lifetime, 4144 publications have been published within this topic receiving 91390 citations. The topic is also known as: surge pricing & demand pricing.
Papers published on a yearly basis
Papers
More filters
TL;DR: An inventory system for perishable items with limited replenishment capacity, in which the sales price is a static decision variable and the replenishment rate remains to be a dynamic decision variable, is introduced to compare with the joint dynamic policy.
Abstract: An inventory system for perishable items with limited replenishment capacity is introduced in this paper. The demand rate depends on the stock quantity displayed in the store as well as the sales price. With the goal to realise profit maximisation, an optimisation problem is addressed to seek for the optimal joint dynamic pricing and replenishment policy which is obtained by solving the optimisation problem with Pontryagin’s maximum principle. A joint mixed policy, in which the sales price is a static decision variable and the replenishment rate remains to be a dynamic decision variable, is presented to compare with the joint dynamic policy. Numerical results demonstrate the advantages of the joint dynamic one, and further show the effects of different system parameters on the optimal joint dynamic policy and the maximal total profit.
51 citations
TL;DR: In this paper, the authors studied how supermarkets can maximize profits of selling perishable food through price adjustment based on real-time product quality and values using radio frequency identification (RFID).
Abstract: Purpose – The purpose of this paper is to study how supermarkets can maximize profits of selling perishable food through price adjustment based on real‐time product quality and values.Design/methodology/approach – The value of the perishable food can be traced based on an automatic product identification technology radio frequency identification (RFID). With the support of the RFID, an optimization model can be developed to enable product tracking.Findings – The analysis of the model shows promising benefits of applying a dynamic pricing policy and obtains the optimal ordering decision in respects of deterministic and stochastic demand function with RFID.Research limitations/implications – Although technological approaches for tracking products have attracted increasing attentions in both research and practice, little research have proved the profit using RFID by mathematics, the result of this paper can prove the benefit by using RFID.Practical implication – The result of this paper can tell the supermar...
51 citations
Patent•
16 Jul 2012TL;DR: In this paper, an automated, systematic approach to pricing management is provided, in which a plurality of pricing states for the product is defined and each pricing state has a pricing mechanism associated therewith.
Abstract: The pricing of a product is programmatically managed by defining a plurality of pricing states for the product. Each pricing state has a pricing mechanism associated therewith. A pricing mechanism can be a variable pricing mechanism such as an auction. It can also be a fixed pricing mechanism for the sale, rental, or subscription of the product. One or more triggers are defined, each of which may include one or more trigger parameters, to enable the pricing of the product to transition from one pricing state to another pricing state. In this manner, an automated, systematic approach to pricing management is provided.
51 citations
Patent•
09 Jun 2005
TL;DR: In this article, a method and system for presenting rates for travel services using dynamic pricing bands is presented, which allows the consumer to explore possible rate variations for particular travel services in a manner that provides a birds-eye view, is intuitive and user-friendly.
Abstract: A method and system are provided for presenting rates for travel services using dynamic pricing bands. The dynamic pricing bands represent approximate rates for travel services relative to available rates during or close to the proposed dates of travel, or at or near the proposed travel destination. Each dynamic pricing band is keyed to a particular color, intensity, pattern, sound, or other graphical and/or audio characteristic, thereby providing the consumer a sense of the seasonal, regional, day of week, or other variability of rates for travel services without having to compare actual numbers. The dynamic pricing bands are applied to an interactive presentation of rates for travel services to allow the consumer to explore possible rate variations for particular travel services in a manner that provides a birds-eye view, is intuitive and user-friendly.
51 citations
TL;DR: In this paper, the authors assess the fairness of dynamic tariffs through a combination of theoretical and empirical research and reveal that dynamic tariffs are less fair than transport and capacity tariffs and fairer than Ramsey pricing.
51 citations