An Optimal Control Problem of Dynamic Pricing

Anton J. Kleywegt

34 citations0/0 files stored

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Supply Chain and Inventory Management Consumer Market Behavior and Pricing Advanced Queuing Theory Analysis

Abstract

An optimal control problem of dynamic pricing is studied. In the model, prices are chosen to sell multiple products to multiple customer classes over time. The products share a number of scarce resources. All parameters, such as the arrival rates of customers, their purchasing probabilities, their cancellation rates, and the cancellation refunds, are allowed to be time dependent. A solution method for the problem is developed, and is tested with some numerical examples. ∗Supported, in part, by the National Science Foundation under grant DMI-9875400.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 34 citations exist upstream.

References

1999Revenue Management: Research Overview and Prospects 1992Yield Management at American Airlines 1997Revenue Management Saves National Car Rental

Cited by

2011A Randomized Linear Programming Method for Network Revenue Management with Product-Specific No-Shows 2002Airline revenue management: an overview of OR techniques 1982-2001 2010Using decomposition methods to solve pricing problems in network revenue management 2009Bid-Price Controls for Network Revenue Management: Martingale Characterization of Optimal Bid Prices 2008Separable approximations for joint capacity control and overbooking decisions in network revenue management 2011A stochastic approximation algorithm to compute bid prices for joint capacity allocation and overbooking over an airline network 2006Deterministic price–inventory management for substitutable products 2004Competitive Multi-period Pricing with Fixed Inventories

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.