Dynamic pricing without knowing the demand function: risk bounds and near-optimal algorithms

DOI10.1287/OPRE.1080.0640zbMATH Open1233.90011OpenAlexW3122984617WikidataQ110700659 ScholiaQ110700659MaRDI QIDQ3100437FDOQ3100437

Authors: Omar Besbes, Assaf Zeevi 

Publication date: 24 November 2011

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

Full work available at URL: https://repository.upenn.edu/cgi/viewcontent.cgi?article=1190&context=oid_papers

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zbMATH Keywords

learningasymptotic analysisvalue of informationrevenue managementexploration-exploitationpricing estimation

Mathematics Subject Classification ID

Management decision making, including multiple objectives (90B50) Inventory, storage, reservoirs (90B05) Microeconomic theory (price theory and economic markets) (91B24)

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• Dynamic pricing in competitive markets
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• Quantity premiums and discounts in dynamic pricing
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• Tracking the market: dynamic pricing and learning in a changing environment
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• Adaptive service rate control of an \(M/M/1\) queue with server breakdowns
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