Coarse Pricing Policies

Pricing policies

Pricing Policies in Academic Libraries

ECONOMICPRESSURE ON LIBRARIES in the United States is approaching a critical stage.’ Academic libraries in particular are vulnerable to this pressure because of tightened budgets coupled with rapidly increasing costs. Academic institutions have been hurt economically by the need to increase tuition, while enrollment is decreasing due to lower birthrates in the 1950s and early 1960s, less intere...

Optimal switching policies using coarse timesteppers

We present a computer-assisted approach to approximating coarse optimal switching policies for systems described by microscopic/stochastic evolution rules. The “coarse timestepper” constitutes a bridge between the underlying kinetic Monte Carlo simulation and traditional, continuum numerical optimization techniques formulated in discrete time. The approach is illustrated through a simplified ki...

Innovation diffusion uncertainty, advertising and pricing policies

We develop and analyze a normative and structurally stochastic model of innovation diffusion by depicting the market at an aggregate level. Model dynamics are defined through the flow pattern of individuals that move from the innovation unaware stage, to the innovation aware, and ultimately to the adopter stages. The stochastic evolution of this stage-wise transition unfolds according to tracta...

Optimal pricing policies for perishable products

In many industrial settings, managers face the problem of establishing a pricing policy that maximizes the revenue from selling a given inventory of items by a fixed deadline, with the full inventory of items being available for sale from the beginning of the selling period. This problem arises in a variety of industries, including the sale of fashion garments, flight seats, and hotel rooms. We...