An Efficient Algorithm for Dynamic Pricing Using a Graphical Representation
Author
Abstract
Suggested Citation
DOI: 10.1111/poms.13223
Download full text from publisher
References listed on IDEAS
- Paul B. Ellickson & Sanjog Misra, 2008.
"Supermarket Pricing Strategies,"
Marketing Science, INFORMS, vol. 27(5), pages 811-828, 09-10.
- Ellickson, Paul & Misra, Sanjog, 2006. "Supermarket Pricing Strategies," Working Papers 06-02, Duke University, Department of Economics.
- Ioana Popescu & Yaozhong Wu, 2007. "Dynamic Pricing Strategies with Reference Effects," Operations Research, INFORMS, vol. 55(3), pages 413-429, June.
- Pisinger, David, 1995. "A minimal algorithm for the multiple-choice knapsack problem," European Journal of Operational Research, Elsevier, vol. 83(2), pages 394-410, June.
- Vincent R. Nijs & Marnik G. Dekimpe & Jan-Benedict E.M. Steenkamps & Dominique M. Hanssens, 2001. "The Category-Demand Effects of Price Promotions," Marketing Science, INFORMS, vol. 20(1), pages 1-22, September.
- Foekens, Eijte W. & S.H. Leeflang, Peter & Wittink, Dick R., 1998. "Varying parameter models to accommodate dynamic promotion effects," Journal of Econometrics, Elsevier, vol. 89(1-2), pages 249-268, November.
- Gadi Fibich & Arieh Gavious & Oded Lowengart, 2003. "Explicit Solutions of Optimization Models and Differential Games with Nonsmooth (Asymmetric) Reference-Price Effects," Operations Research, INFORMS, vol. 51(5), pages 721-734, October.
- Shivaram Subramanian & Hanif Sherali, 2010. "A fractional programming approach for retail category price optimization," Journal of Global Optimization, Springer, vol. 48(2), pages 263-277, October.
- Praveen K. Kopalle & Ambar G. Rao & João L. Assunção, 1996. "Asymmetric Reference Price Effects and Dynamic Pricing Policies," Marketing Science, INFORMS, vol. 15(1), pages 60-85.
- Robert C. Blattberg & Richard Briesch & Edward J. Fox, 1995. "How Promotions Work," Marketing Science, INFORMS, vol. 14(3_supplem), pages 122-132.
- Dudzinski, Krzysztof & Walukiewicz, Stanislaw, 1987. "Exact methods for the knapsack problem and its generalizations," European Journal of Operational Research, Elsevier, vol. 28(1), pages 3-21, January.
- Maxime C. Cohen & Ngai-Hang Zachary Leung & Kiran Panchamgam & Georgia Perakis & Anthony Smith, 2017. "The Impact of Linear Optimization on Promotion Planning," Operations Research, INFORMS, vol. 65(2), pages 446-468, April.
- Wen Zhao & Yu-Sheng Zheng, 2000. "Optimal Dynamic Pricing for Perishable Assets with Nonhomogeneous Demand," Management Science, INFORMS, vol. 46(3), pages 375-388, March.
- Rajiv Lal & Ram Rao, 1997. "Supermarket Competition: The Case of Every Day Low Pricing," Marketing Science, INFORMS, vol. 16(1), pages 60-80.
- Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329, November.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Maxime C. Cohen & Adam N. Elmachtoub & Xiao Lei, 2022. "Price Discrimination with Fairness Constraints," Management Science, INFORMS, vol. 68(12), pages 8536-8552, December.
- Maxime C. Cohen & Georgia Perakis & Charles Thraves, 2022. "Consumer Surplus Under Demand Uncertainty," Production and Operations Management, Production and Operations Management Society, vol. 31(2), pages 478-494, February.
- Bigdellou, Saeide & Aslani, Shirin & Modarres, Mohammad, 2022. "Optimal promotion planning for a product launch in the presence of word-of-mouth," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Maxime C. Cohen & Ngai-Hang Zachary Leung & Kiran Panchamgam & Georgia Perakis & Anthony Smith, 2017. "The Impact of Linear Optimization on Promotion Planning," Operations Research, INFORMS, vol. 65(2), pages 446-468, April.
- Colombo, Luca & Labrecciosa, Paola, 2021. "Dynamic oligopoly pricing with reference-price effects," European Journal of Operational Research, Elsevier, vol. 288(3), pages 1006-1016.
- Manqi (Maggie) Li & Yan Huang & Amitabh Sinha, 2020. "Data-Driven Promotion Planning for Paid Mobile Applications," Information Systems Research, INFORMS, vol. 31(3), pages 1007-1029, September.
- Lin, Zhibing, 2016. "Price promotion with reference price effects in supply chain," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 85(C), pages 52-68.
- Bigdellou, Saeide & Aslani, Shirin & Modarres, Mohammad, 2022. "Optimal promotion planning for a product launch in the presence of word-of-mouth," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
- Grigoriev, A. & Hiller, B. & Marban, S. & Vredeveld, T. & van der Zwaan, G.R.J., 2010. "Dynamic pricing problems with elastic demand," Research Memorandum 053, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Necati Tereyağoğlu & Peter S. Fader & Senthil Veeraraghavan, 2018. "Multiattribute Loss Aversion and Reference Dependence: Evidence from the Performing Arts Industry," Management Science, INFORMS, vol. 64(1), pages 421-436, January.
- Régis Chenavaz, 2017.
"Dynamic quality policies with reference quality effects,"
Applied Economics, Taylor & Francis Journals, vol. 49(32), pages 3156-3162, July.
- Régis Chenavaz, 2017. "Dynamic quality policies with reference quality effects," Post-Print hal-01685879, HAL.
- Anton, Ramona & Chenavaz, Régis Y. & Paraschiv, Corina, 2023. "Dynamic pricing, reference price, and price-quality relationship," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
- Zhang, Juan & Gou, Qinglong & Liang, Liang & Huang, Zhimin, 2013. "Supply chain coordination through cooperative advertising with reference price effect," Omega, Elsevier, vol. 41(2), pages 345-353.
- Malekian, Yaser & Rasti-Barzoki, Morteza, 2019. "A game theoretic approach to coordinate price promotion and advertising policies with reference price effects in a two-echelon supply chain," Journal of Retailing and Consumer Services, Elsevier, vol. 51(C), pages 114-128.
- Kim, Hyunchul & Kim, Kyoo il, 2017. "Estimating store choices with endogenous shopping bundles and price uncertainty," International Journal of Industrial Organization, Elsevier, vol. 54(C), pages 1-36.
- Kopalle, Praveen & Biswas, Dipayan & Chintagunta, Pradeep K. & Fan, Jia & Pauwels, Koen & Ratchford, Brian T. & Sills, James A., 2009. "Retailer Pricing and Competitive Effects," Journal of Retailing, Elsevier, vol. 85(1), pages 56-70.
- Martín-Herrán, Guiomar & Taboubi, Sihem, 2015. "Price coordination in distribution channels: A dynamic perspective," European Journal of Operational Research, Elsevier, vol. 240(2), pages 401-414.
- Wang, Xiaojun & Li, Dong, 2012. "A dynamic product quality evaluation based pricing model for perishable food supply chains," Omega, Elsevier, vol. 40(6), pages 906-917.
- Zhenyu Hu & Xin Chen & Peng Hu, 2016. "Technical Note—Dynamic Pricing with Gain-Seeking Reference Price Effects," Operations Research, INFORMS, vol. 64(1), pages 150-157, February.
- Reiner, Gerald & Fichtinger, Johannes, 2009. "Demand forecasting for supply processes in consideration of pricing and market information," International Journal of Production Economics, Elsevier, vol. 118(1), pages 55-62, March.
- Ma, Peng & Gong, Yeming & Mirchandani, Prakash, 2020. "Trade-in for remanufactured products: Pricing with double reference effects," International Journal of Production Economics, Elsevier, vol. 230(C).
- Alfred Taudes & Christian Rudloff, 2012. "Integrating inventory control and a price change in the presence of reference price effects: a two-period model," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 75(1), pages 29-65, February.
- Tamar Cohen-Hillel & Kiran Panchamgam & Georgia Perakis, 2023. "High-Low Promotion Policies for Peak-End Demand Models," Management Science, INFORMS, vol. 69(4), pages 2016-2050, April.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:popmgt:v:29:y:2020:i:10:p:2326-2349. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1937-5956 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.