Demand learning and dynamic pricing for multi-version products

Journal of Revenue and Pricing Management

Volumn 11, Issue 3, 2012, Pages 303-318

  Gallego, Guillermo ^a   Talebian, Masoud ^a  

^a UNIVERSITY OF NEWCASTLE   (Australia)

Author keywords

Bayesian update; demand learning; dynamic pricing; maximum likelihood estimation; multinomial logit choice

Indexed keywords

EID: 84860813759     PISSN: 14766930     EISSN: 1477657X     Source Type: Journal    
DOI: 10.1057/rpm.2010.36     Document Type: Article

References (18)

1. Araman, V. and Caldentey, R. (2005) Dynamic Pricing for Non-Perishable Products with Demand learning. Working Paper, Stern School of Business, New York, NY.
2. Bass, F.M. (1969) A new product growth for model consumer durables. Theory Series 5: 215-227.
3. Besbes, O. and Zeevi, A. (2006) Blind Nonparametric Revenue Management: Asymptotic Optimality of a Joint Learning and Pricing Method. Working Paper, Graduate School of Business, Columbia University, NY.
4. Bierlaire, M. (1998) Discrete choice models. Operations Research and Decision Aid Methodologies in Traffic and Transportation Management 166: 203-227.
5. Bitran, G.R. and Mondschein, S.V. (1997) Periodic pricing of seasonal products in retailing. Management Science 43: 64-79. (Pubitemid 127575306)
6. Bitran, G.R. and Wadhwa, H. (1996) A Methodology for Demand Learning with an Application to the Optimal Pricing of Seasonal Products. Working Paper number 3898-96, MIT Sloan School of Management, Cambridge, MA.
7. Fisher, M. and Raman, A. (1996) Reducing the cost of demand uncertainty through accurate response to early sales. Operations Research 44: 87-99. (Pubitemid 126669439)
8. Gallego, G. and Hu, M. (2007) Dynamic Pricing of Persihable Assets Under Competition. Working Paper, IEOR Department, Columbia University, NY.
9. Gallego, G. and Stefanescu, C. (2008) Upgrades, Upsells and Pricing in Revenue Management. Working Paper.
10. Gallego, G. and van Ryzin, G.J. (1994) Optimal dynamic pricing of inventories with stochastic demand over finite horizons. Management Science 40: 999-1020.
11. Gallego, G. and van Ryzin, G.J. (1997) A multiproduct dynamic pricing problem and its applications to network yields management. Operations Research 450(1): 24-41. (Pubitemid 127684684)
12. Iyer, A. and Bergen, M. (2007) Quick response in manufacturer-retailer channels. Operations Research 43(4): 559-570.
13. Jasin, S. and Kumar, S. (2010) A Re-solving Heuristic with Bounded Revenue Loss for Network Revenue Management with Customer Choice. Working Paper, Stanford University.
14. Maglaras, C. and Meissner, J. (2006) Dynamic pricing strategies for multiproduct revenue management problems. Manufacturing and Service Operations Management 8: 136-148. (Pubitemid 43666201)
15. Sen, A. and Zhang, A.X. (2005) Style Goods Pricing with Demand Learning. Working Paper, Bilkent University.
16. Stefanescu, C. (2009) Multivariate Demand: Modeling and Estimation from Censored Sales. Working Paper, London Business School.
17. Talluri, K. and van Ryzin, G.J. (2004) The Theory and Practice of Revenue Management. Dordrecht: Kluwer Academic Publishers.
18. Vulcano, G., van Ryzin, G.J. and Ratliff, R. (2000) Estimating Primary Demand for Substitutable Products from Sales Transaction Data. Working Paper, Columbia University, NY.