Dynamic Pricing
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Behavioral Consequences Of Dynamic Pricing
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Author : David Prakash
language : en
Publisher: BoD – Books on Demand
Release Date : 2022-07-28
Behavioral Consequences Of Dynamic Pricing written by David Prakash and has been published by BoD – Books on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-28 with Business & Economics categories.
Digital technologies are driving the application of dynamic pricing. Today, this pricing strategy is used not only for perishable products such as flights or hotel rooms, but for almost any product or service category. With dynamic pricing, retailers frequently adjust their prices over time to respond to factors such as demand, their supply and that of competitors, or the time of sale. Additionally, dynamic pricing allows retailers to take advantage of a large share of consumers' willingness to pay while avoiding losses from unsold products. Ultimately, this can lead to an increase in revenue and profit. However, the application of dynamic pricing comes with great challenges. In addition to the technological implementation, companies have to take into account that dynamic pricing can cause complex and unintended behavioral consequences on the consumer side. The key objective of this dissertation is to provide a deeper understanding of the impact of dynamic pricing on consumer behavior. To this end, this dissertation presents insights from four perspectives. First, how reference prices as a critical component in purchase decisions are operationalized. Second, how customers search for products priced dynamically, differentiated by business and private customers, as well as by different devices used for the search. Third, whether and how dynamic pricing influences the impact of internal reference prices on purchase decisions. Finally, this dissertation demonstrates that consumers perceive price changes as personalized in different purchase contexts, leading to reduced perceptions of fairness and undesirable behavioral consequences.
The Extinction Of The Price Tag
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Author : Sahaj Sharda
language : en
Publisher:
Release Date : 2018-04-18
The Extinction Of The Price Tag written by Sahaj Sharda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-18 with categories.
Pricing And Equilibrium
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Author : Erich Schneider
language : en
Publisher: Psychology Press
Release Date : 2003
Pricing And Equilibrium written by Erich Schneider and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
This volume analyses value and equilibrium. Chapters on the decisions of household and on the theory of the firm (including short and long-term planning and investment) include both static and dynamic analysis. * Based on the enlarged sixth German edition this English edition contains many diagrams and an introduction to linear programming, as well as full treatment of the author's well-known theory of production.
Dynamic Pricing And Automated Resource Allocation For Complex Information Services
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Author : Michael Schwind
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-04-24
Dynamic Pricing And Automated Resource Allocation For Complex Information Services written by Michael Schwind and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-04-24 with Mathematics categories.
This book develops allocation mechanisms that aim to ensure an efficient resource allocation in modern IT-services. Recent methods of artificial intelligence, such as neural networks and reinforcement learning, and nature-oriented optimization methods, such as genetic algorithms and simulated annealing, are advanced and applied to allocation processes in distributed IT-infrastructures, or grid systems.
Dynamic Pricing In History Economics And Ethics
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Author : Michael J. Douma
language : en
Publisher:
Release Date : 2018
Dynamic Pricing In History Economics And Ethics written by Michael J. Douma and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Economics categories.
Over the course of U.S. history, prices have stabilized and become more consistent across large distances. At the same time, historical trends show a transition from dynamic to static prices. In past centuries, sellers could discriminate more on prices on various products, because, for one reason, products were less homogenous than they are today. This case study examines the advantages in both dynamic and static pricing systems, asking readers to imagine themselves as the owner of a general store in a hypothetical Midwestern village in the late nineteenth century, and to compare business practices of that era with practices of today. Why might you, the storekeeper, decide to use dynamic prices, and what are the factors that pressure you not to? The case considers dynamic pricing as a concern of history, economy, and ethics. It raises the wider question of whether static prices will hold nationwide, or whether a new wave of dynamic pricing may enter the marketplace.
Revenue Management And Pricing Analytics
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Author : Guillermo Gallego
language : en
Publisher: Springer
Release Date : 2019-08-14
Revenue Management And Pricing Analytics written by Guillermo Gallego and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-14 with Business & Economics categories.
“There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
Operationalizing Dynamic Pricing Models
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Author : Steffen Christ
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-04-02
Operationalizing Dynamic Pricing Models written by Steffen Christ and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-02 with Business & Economics categories.
Steffen Christ shows how theoretic optimization models can be operationalized by employing self-learning strategies to construct relevant input variables, such as latent demand and customer price sensitivity.
Dynamic Pricing
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Author : Wilhelm K. Weber
language : en
Publisher:
Release Date : 2008
Dynamic Pricing written by Wilhelm K. Weber and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Hospitality industry categories.
Dynamic Pricing Concepts And Applications
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Author : Kerani Suresh
language : en
Publisher:
Release Date : 2006-09-02
Dynamic Pricing Concepts And Applications written by Kerani Suresh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-09-02 with Pricing categories.
Pricing is a crucial element of the marketing mix. Three of the 4 Ps in the marketing mix Product, Place and Promotion involve costs. The fourth P Price is related to revenue. When judiciously executed, pricing optimizes the profitability of the firm. Pri
Pricing And Revenue Optimization
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Author : Robert L. Phillips
language : en
Publisher: Stanford University Press
Release Date : 2021-05-18
Pricing And Revenue Optimization written by Robert L. Phillips and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-18 with Business & Economics categories.
This book offers the first introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. With updates to every chapter, this second edition covers topics such as estimation of price-response functions and machine-learning-based price optimization. New discussions of applications of dynamic pricing and revenue management by companies such as Amazon, Uber, and Disney, and in industries such as sports, theater, and electric power, are also included. In addition, the book provides current coverage of important applications such as revenue management, markdown management, customized pricing, and the behavioral economics of pricing.