Keywords: Approximate dynamic programming Artificial neural networks Cross-price elasticity Markdown optimization Dynamic pricing Aggregation a b s t r a c t Markdown policies for product groups having significant cross-price elasticity among each other should be jointly determined. However, finding optimal policies for product groups becomes computationally intractable as the number of product...

We consider the problem of maximizing revenue when selling k items to a single buyer with known valuation distributions. Hart and Nisan [2] raised some questions on the approximation of maximizing revenue from selling a set of items by selling each item separately or all in a bundle. In this work we show that for a single, additive buyer whose valuations for for the items are distributed accord...

T paper analyzes optimal selling strategies of a monopolist facing forward-looking patient unit-demand bidders in a sequential auction market. Such a seller faces a fundamental choice between two selling regimes: adaptive selling that involves learning about remaining demand from early prices, and commitment selling that forgoes such learning and makes all selling decisions in the beginning of ...

This study discusses salespersons' emotional intelligence, one of the key abilities necessary to meet customers' needs effectively, and express positive emotions in frequent interactions with customer. Emotional intelligence refers to self-controllability and social ability emphasizing pro-social aspect and understanding of others. This study investigates how salespersons' emotional intelligenc...

In practice, demands for items are often correlated with each other because of cross-selling effects. Traditional inventory models hold the assumption that demands are independent, which may lead to the risk of misestimating the inventory cost of associated items. This paper addresses a multi-item inventory system where demands for some minor items are correlated with that for a major item. Bec...

For several years, the financial services industry has discovered the opportunities of different channels like the Internet, call-centers, WAP etc. Many banks built up separate direct banks focusing exclusively on the Internet and/or call-centers. Only recently, some banks started to reintegrate the direct banks with their traditional brickand-mortar banks in order to offer services over severa...