Open-loop policies in Bayesian dynamic pricing: some counter-intuitive observations and insights

DOI10.1016/J.ORL.2019.05.003zbMATH Open1476.90344OpenAlexW2949688468WikidataQ115038536 ScholiaQ115038536MaRDI QIDQ2294331FDOQ2294331

Li Chen, Chengyu Wu

Publication date: 10 February 2020

Published in: Operations Research Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.orl.2019.05.003

zbMATH Keywords

dynamic pricingBayesian updatingdemand learningopen-loop policy

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05) Transportation, logistics and supply chain management (90B06) Markov and semi-Markov decision processes (90C40) Microeconomic theory (price theory and economic markets) (91B24)

Cites Work

• Title not available (Why is that?)
• The theory and practice of revenue management
• Dynamic Pricing for Nonperishable Products with Demand Learning
• Dynamic Pricing with a Prior on Market Response
• A Partially Observed Markov Decision Process for Dynamic Pricing
• Adaptive Inventory Control for Nonstationary Demand and Partial Information

Cited In (2)

• Dynamic pricing and inventory control with learning
• Bayesian strategies for dynamic pricing in e‐commerce

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