The problem with low pricing: buffet lunch and regret (1019.15)
نویسندگان
چکیده
منابع مشابه
Pricing a Low-regret Seller
As the number of ad exchanges has grown, publishers have turned to low regret learning algorithms to decide which exchange offers the best price for their inventory. This in turn opens the following question for the exchange: how to set prices to attract as many sellers as possible and maximize revenue. In this work we formulate this precisely as a learning problem, and present algorithms showi...
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A model is considered where firms internalize the regret costs that consumers experience when they see an unexpected price change. Regret costs are assumed to be increasing in the size of price changes and this can explain why the size of price increases is less sensitive to inflation than in models with fixed costs of changing prices. The latter predict unrealistically large responses of price...
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Anshul Sheopuri Department of Information, Operations and Management Science, Leonard N. Stern School of Business, New York University. 8-154, 44 West, 4 Street New York, NY10012. [email protected] Eitan Zemel Department of Information, Operations and Management Science, Leonard N. Stern School of Business, New York University. 8-65, 44 West, 4 Street New York, NY10012. [email protected]
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We consider the pricing problem faced by a monopolist who sells a product to a population of consumers over a finite time horizon. Customers are heterogeneous along two dimensions: (i) willingness-to-pay for the product and (ii) arrival time during the selling season. We assume that the seller knows only the support of the customers’ valuations and do not make any other distributional assumptio...
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ژورنال
عنوان ژورنال: The FASEB Journal
سال: 2014
ISSN: 0892-6638,1530-6860
DOI: 10.1096/fasebj.28.1_supplement.1019.15