The integration of telecommunications and data networks enables Internet Service Providers (ISPs) to develop increasingly services to attract customers. Designing rational pricing plans is very important for ISPs to reflect actual cost and to promote different services. In this paper, we discuss the applicability of the duration-based pricing scheme for charging Internet services that constantl...

Driver behavior under congestion pricing is analyzed in this study to evaluate the effects of alternative congestion pricing schemes. The analysis, which is based on stated-preference survey results, focuses on time allocation, departure time choice and route choice when a congestion pricing scheme is implemented on a toll road. A unique feature of the model system of this study is that departu...

Hansen and Jagannathan (1997) have developed two measures of pricing errors for asset pricing models: the maximum pricing error in all static portfolios of the test assets and the maximum pricing error in all contingent claims of the assets. In this paper, we develop simulation-based Bayesian inference for these measures. While the literature reports that the time-varying extensions substantial...

One of the biggest obstacles for implementing congestion pricing is the pricing time-scale. The Internet traffic is highly variant and hard to control without a mechanism that operates on very low time-scales, i.e. on the order of round-trip-times (RTTs). However, pricing naturally operates on very large time-scales because of human involvement. So, in order to put tight control on congestion t...

By employing dynamic pricing, the act of changing prices over time within a marketplace, sellers have the potential to increase their revenue by selling goods to buyers “at the right time, at the right price.” As dynamic pricing systems become necessary as a competitive maneuver and as market mechanisms become more complex, there is a greater need for pricing agents to be used, and also a great...

In many services, the value or quality derived by a customer from a service depends upon the time the service provider (SP) devotes to the customer and this valuation differs across customers. Examples of such services are website or landscape design. Customers procure the service based on the expected value to be delivered, prices charged and the timeliness of service. Two commonly used pricin...

Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. This paper evaluates the …rst program to expose residential consumers to hourly real-time pricing (RTP). I …nd that enrolled households are statistically signi…cantly price elastic and that consumers responded by conserving energy during peak hours, but...