Correction to: Optimal pricing for a multinomial logit choice model with network effects
نویسندگان
چکیده
منابع مشابه
Optimal Pricing for a Multinomial Logit Choice Model with Network Effects
We consider a seller’s problem of determining revenue-maximizing prices for an assortment of products that exhibit network effects. Customers make purchase decisions according to a multinomial logit (MNL) choice model, modified — to incorporate network effects — so that the utility each individual customer gains from purchasing a particular product depends on the market’s total consumption of t...
متن کاملOptimal Worst-Case Pricing for a Logit Demand Model with Network Effects
We consider optimal pricing problems for a product that experiences network effects. Given a price, the sales quantity of the product arises as an equilibrium, which may not be unique. In contrast to previous studies that take a best-case view when there are multiple equilibrium sales quantities, we maximize the seller’s revenue assuming that the worst-case equilibrium quantity will arise in re...
متن کاملA Bayesian Mixed Logit-Probit Model for Multinomial Choice
In this paper we introduce a new flexible mixed model for multinomial discrete choice where the key individualand alternative-specific parameters of interest are allowed to follow an assumptionfree nonparametric density specification while other alternative-specific coefficients are assumed to be drawn from a multivariate normal distribution which eliminates the independence of irrelevant alter...
متن کاملOn Rank-Ordered Nested Multinomial Logit Model and D-Optimal Design for this Model
In contrast to the classical discrete choice experiment, the respondent in a rank-order discrete choice experiment, is asked to rank a number of alternatives instead of the preferred one. In this paper, we study the information matrix of a rank order nested multinomial logit model (RO.NMNL) and introduce local D-optimality criterion, then we obtain Locally D-optimal design for RO.NMNL models in...
متن کاملDynamic Pricing under a Logit Choice Model
We consider a stylized dynamic pricing model in which a monopolist prices a product to a sequence of customers, who independently make purchasing decisions based on the price offered according to a logit choice model. The parameters of the logit model are unknown to the seller, whose objective is to determine a pricing policy that minimizes the regret, which is the expected difference between t...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Revenue and Pricing Management
سال: 2023
ISSN: ['1476-6930', '1477-657X']
DOI: https://doi.org/10.1057/s41272-023-00441-x