In a network with enhancements for QoS support, pricing of network services based on the level of service, usage, and congestion provides a natural and equitable incentive for applications to adapt their sending rates according to network conditions. In this paper, we first propose a dynamic, congestion-sensitive pricing algorithm, and also develop the demand behavior of adaptive users based on...

The market for selling reusable products (e.g., car rental, cloud services and network access resources) is growing rapidly over the last few years, where service providers maximize their revenues through setting the optimal prices. While there has been lots of research on pricing optimization, existing works often ignore dynamic property of demand and the competition among providers. Thus, exi...

Pricing in the online world is highly transparent & can be a primary driver for online purchase. While dynamic pricing is not new & used by many to increase sales and margins, its benefit to online retailers is immense. The proposed study is a result of ongoing project that aims to develop a generic framework and applicable techniques by applying sound machine learning algorithms to enhance rig...

The dynamic pricing problem concerns the determination of selling prices over time for a product whose demand is random and whose supply is fixed. We approach this problem in a novel way by formulating a dynamic optimization model in which the demand function is iso-elastic but the random demand process is quite general. Ultimately, what we find is a strong parallel between the dynamic pricing ...

[email protected], [email protected] Abstract— Several congestion pricing proposals have been made in the last decade. Usually, however, those proposals studied optimal strategies and did not focus on implementation issues. Our main contribution in this paper is to address implementation issues for congestion-sensitive pricing over a single domain of the differentiated-services (diff-serv) ...

Article history: Accepted 20 November 2013 Available online xxxx JEL classification: G12 G14

We study the pricing problem faced by a firm that sells a large number of products, described via a wide range of features, to customers that arrive over time. This is motivated in part by the prevalence of online marketplaces that allow for real-time pricing. We propose a dynamic policy, called Regularized Maximum Likelihood Pricing (RMLP), that obtains asymptotically optimal revenue. Our poli...

This paper presents a review of the literature on dynamic pricing models in management science. We discuss monopolistic and competitive situations, with an emphasis on applications in different contexts. We also describe the main development perspectives of this literature.