A Bayesian learning and pricing model with multiple unknown demand parameters

DOI10.1007/S10479-024-06279-9MaRDI QIDQ7030975zbMATH OpenFDO

Authors Baichun Xiao, Wei Yang

Publication date 7 February 2025

Published in Annals of Operations Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/S10479-024-06279-9

zbMATH Keywords

approximate dynamic programmingBayesian demand estimationincomplete learningpricing

Mathematics Subject Classification ID

Dynamic programming (90C39) Microeconomic theory (price theory and economic markets) (91B24)

Cites work

• A Bayesian learning model for estimating unknown demand parameter in revenue management
• A continuous-time yield management model with multiple prices and reversible price changes
• Bayesian strategies for dynamic pricing in e‐commerce
• Dynamic Pricing and Learning with Finite Inventories
• Dynamic pricing for nonperishable products with demand learning
• Dynamic pricing under a general parametric choice model
• Dynamic Pricing with an Unknown Demand Model: Asymptotically Optimal Semi-Myopic Policies
• Dynamic pricing with real-time demand learning
• Dynamic pricing without knowing the demand function: risk bounds and near-optimal algorithms
• Iterated least squares in multiperiod control
• Nonparametric learning algorithms for joint pricing and inventory control with lost sales and censored demand
• State of the Art—A Survey of Partially Observable Markov Decision Processes: Theory, Models, and Algorithms
• What you should know about approximate dynamic programming

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