Dynamic Pricing with a Prior on Market Response

Electronic Companion — “ Dynamic Pricing with a Prior on Market Response ” by Vivek

A DSS-Based Dynamic Programming for Finding Optimal Markets Using Neural Networks and Pricing

One of the substantial challenges in marketing efforts is determining optimal markets, specifically in market segmentation. The problem is more controversial in electronic commerce and electronic marketing. Consumer behaviour is influenced by different factors and thus varies in different time periods. These dynamic impacts lead to the uncertain behaviour of consumers and therefore harden the t...

Agent-Based Modeling of Day-Ahead Real Time Pricing in a Pool-Based Electricity Market

In this paper, an agent-based structure of the electricity retail market is presented based on which day-ahead (DA) energy procurement for customers is modeled. Here, we focus on operation of only one Retail Energy Provider (REP) agent who purchases energy from DA pool-based wholesale market and offers DA real time tariffs to a group of its customers. As a model of customer response to the offe...

APPLICATION OF GAME THEORY IN DYNAMIC COMPETITIVE PRICING WITH ONE PRICE LEADER AND N DEPENDENT FOLLOWERS

 In this research UF cheese pricing is considered and Pegah, Pak, Kaleh, Rouzaneh and Mihan firms’ data, as five main UF cheese competitive firms of Iran in breakfast cheese competitive market, is used. By using these firm’s sales data, production data and price of each ton of UF cheese in nineteen work-periods (each work-period is 6 months), their sales equations are estimated for each work-pe...

Investigating the Sustainability of Asian, European and American Regional Gas Markets in Response to Currency and Crude Oil Price Shocks

In this study, we model the long-term and dynamic relationships between spot oil and exchange rates  and gas prices by applying the Markov switching vector self-regression model in three regional gas markets in USA, Europe and Asia. Price behavior is analyzed using Bayesian estimation to take into account the transition from an existing relationship and the delayed and recurring effects of pric...

Optimum Pricing Policy for Dynamic

In this paper we study the effect of dynamic behavior of the market on the optimum pricing policy for a revenue maximizing firm in a monopoly market. We show that the optimum pricing policy in the dynamic market can be very different from the static one, and the most important contributing factors for this difference are: consumer response time, planning period and the discount rate. Furt...