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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
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Journal ArticleDOI
TL;DR: The results show that economic antecedents, such as price consciousness and flexibility, have a stronger effect on the choice of a time-variant pricing plan than price fairness considerations; cost insurance is a promising instrument for increasing acceptance of dynamic pricing plans.

36 citations

Journal ArticleDOI
TL;DR: The asymptotic optimality of the switch-over policy is established, and pricing models based on this policy to optimize the price reductions over the decision horizon are developed.
Abstract: The stochastic knapsack has been used as a model in wide-ranging applications from dynamic resource allocation to admission control in telecommunication. In recent years, a variation of the model has become a basic tool in studying problems that arise in revenue management and dynamic/flexible pricing, and it is in this context that our study is undertaken. Based on a dynamic programming formulation and associated properties of the value function, we study in this paper a class of control that we call switch-over policies---start by accepting only orders of the highest price, and switch to including lower prices as time goes by, with the switch-over times optimally decided via convex programming. We establish the asymptotic optimality of the switch-over policy, and develop pricing models based on this policy to optimize the price reductions over the decision horizon.

35 citations

Proceedings ArticleDOI
20 May 2013
TL;DR: In this article, the authors discuss ongoing work at Pacific Northwest National Laboratory to create a flexible, high-speed power and communication system co-simulator for smart grid applications, including architecture considerations for modular, high performance computing and large-scale scalability.
Abstract: New smart grid technologies and concepts, such as dynamic pricing, demand response, dynamic state estimation, and wide area monitoring, protection, and control, are expected to require considerable communication resources. As the cost of retrofit can be high, future power grids will require the integration of high-speed, secure connections with legacy communication systems, while still providing adequate system control and security. The co-simulation of communication and power systems will become more important as the two systems become more interrelated. This paper will discuss ongoing work at Pacific Northwest National Laboratory to create a flexible, high-speed power and communication system co-simulator for smart grid applications. The framework for the software will be described, including architecture considerations for modular, high performance computing and large-scale scalability (serialization, load balancing, partitioning, cross-platform support, etc.). The current simulator supports the ns-3 (telecommunications) and GridLAB-D (distribution systems) simulators. A test case using the co-simulator, utilizing a transactive demand response system created for the Olympic Peninsula and AEP gridSMART demonstrations, requiring two-way communication between distributed and centralized market devices, will be used to demonstrate the value and intended purpose of the co-simulation environment.

35 citations

Journal ArticleDOI
TL;DR: Through this research the authors communicate the lessons learned during the deployment of two RFID retail applications—namely dynamic pricing of fresh products and management of promotions in the supermarket floor—in two real-life pilot sites in Greece and Ireland.
Abstract: Through this research the authors communicate the lessons learned during the deployment of two RFID retail applications—namely dynamic pricing of fresh products and management of promotions in the supermarket floor—in two real-life pilot sites in Greece and Ireland. The lessons are presented in three inter-related perspectives; engineering challenges and associated solutions, individual adoption factors, and organizational success indicators. The authors argue that these findings might inform the design community to develop better RFID instantiations.

35 citations

Journal ArticleDOI
TL;DR: A multi-period dynamic pricing model is presented with computational complexity only of order equal to the number of periods and close to analytical results can be obtained from which structural insights may be gleaned.

35 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
2023140
2022262
2021307
2020324
2019346
2018314