Learning dynamic prices in MultiSeller electronic retail markets with price sensitive customers, stochastic demands, and inventory replenishments
نویسندگان
چکیده
منابع مشابه
Learning dynamic prices in electronic retail markets with customer segmentation
In this paper, we use reinforcement learning (RL) techniques to determine dynamic prices in an electronic monopolistic retail market. The market that we consider consists of two natural segments of customers, captives and shoppers. Captives are mature, loyal buyers whereas the shoppers are more price sensitive and are attracted by sales promotions and volume discounts. The seller is the learnin...
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Price transparency initiatives are typically undertaken by third parties to ensure that consumers can compare the prices of competing offers in markets where obtaining such information is costly. Such practices have recently become widespread, yet it is unclear whether the increased price competition due to lower search costs overcomes the potential for collusion between competitors due to lowe...
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Generally ordering policies are done by two methods, including fix order quantity (FOQ) and fix order period (FOP). These methods are static and either the quantity of ordering or the procedure of ordering is fixing in throughout time horizon. In real environments, demand is varying in any period and may be considered as uncertainty. When demand is variable in any period, the traditional and st...
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ژورنال
عنوان ژورنال: IEEE Transactions on Systems, Man and Cybernetics, Part C (Applications and Reviews)
سال: 2006
ISSN: 1094-6977
DOI: 10.1109/tsmcc.2005.860578