کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
6892478 1445448 2018 32 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Dealing with the dimensionality curse in dynamic pricing competition: Using frequent repricing to compensate imperfect market anticipations
ترجمه فارسی عنوان
کار با لعن ابعاد در رقابت قیمت گذاری پویا: با استفاده از تغییرات مکرر برای جبران پیش بینی های بازار ناقص
کلمات کلیدی
قیمت گذاری پویا، رقابت بومی برنامه نویسی دینامیک، استراتژی های مبتنی بر داده ها، تجارت الکترونیک،
موضوعات مرتبط
مهندسی و علوم پایه مهندسی کامپیوتر علوم کامپیوتر (عمومی)
چکیده انگلیسی
Most sales applications are characterized by competition and limited demand information. For successful pricing strategies, frequent price adjustments as well as anticipation of market dynamics are crucial. Both effects are challenging as competitive markets are complex and computations of optimized pricing adjustments can be time-consuming. We analyze stochastic dynamic pricing models under oligopoly competition for the sale of perishable goods. To circumvent the curse of dimensionality, we propose a heuristic approach to efficiently compute price adjustments. To demonstrate our strategy's applicability even if the number of competitors is large and their strategies are unknown, we consider different competitive settings in which competitors frequently and strategically adjust their prices. For all settings, we verify that our heuristic strategy yields promising results. We compare the performance of our heuristic against upper bounds, which are obtained by optimal strategies that take advantage of perfect price anticipations. We find that price adjustment frequencies can have a larger impact on expected profits than price anticipations. Finally, our approach has been applied on Amazon for the sale of used books. We have used a seller's historical market data to calibrate our model. Sales results show that our data-driven strategy outperforms the rule-based strategy of an experienced seller by a profit increase of more than 20%.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Computers & Operations Research - Volume 100, December 2018, Pages 26-42
نویسندگان
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