Learning and Strategic Pricing

DOI10.2307/2171959MaRDI QIDQ4895059zbMATH OpenOpenAlexFDO

Authors Dirk Bergemann, Juuso Välimäki

Publication date 23 February 1997

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://cowles.yale.edu/sites/default/files/files/pub/d11/d1113.pdf

zbMATH Keywords

experimentationmulti-armed bandit problemMarkov perfect equilibrialearning processdynamic oligopolyoligopoly modelasymptotic behavior of the equilibriainfinite stochastic gamesingle consumerstream of goods

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Markov and semi-Markov decision processes (90C40) Stochastic games, stochastic differential games (91A15) Microeconomic theory (price theory and economic markets) (91B24) Memory and learning in psychology (91E40)

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Cited in

(42)

• Repeated common value auctions with asymmetric bidders
• Experimentation in Markets
• Asymmetric consumer learning and inventory competition
• Strategic resource dependence
• Continuous learning methods in two-buyer pricing problem
• Optimal learning before choice
• Optimal markdown pricing strategy with demand learning
• New product launch: Herd seeking or herd preventing?
• Recursive robust estimation and control without commitment
• Adaptive Incentive-Compatible Sponsored Search Auction
• Bayesian social learning from consumer reviews
• Sequential decomposition of discrete-time mean-field games
• Dynamic common agency.
• Parallel search for information in continuous time -- optimal stopping and geometry of the PDE
• Firm-specific training
• Good news and bad news in two-armed bandits
• Price competition for an informed buyer
• Super- and submodularity of stopping games with random observations
• Social learning and delay in a dynamic model of price competition
• Learning competitive market balance
• Evolving market structure: An ACE model of price dispersion and loyalty
• Evolutionary Learning of the Optimal Pricing Strategy in an Artificial Payment Card Market
• Optimal Dynamic Information Acquisition
• Optimal allocation of an opaque product with consumer learning
• Simple pricing schemes for consumers with evolving values
• Monopoly pricing in the binary herding model
• Pricing, learning, and strategic behavior in a single-sale model
• Dynamic price competition
• Common value experimentation
• Competitive experimentation with private information: the survivor's curse
• Optimal repeated purchases when sellers are learning about costs
• The implications of pricing on social learning
• Experimentation and competition
• Inefficiency of sponsored research
• Robust estimation and control under commitment
• A generalized learning curve adapted for purchasing and cost reduction negotiations
• Optimal pricing against a simple learning rule
• Dynamic pricing in the presence of individual learning
• Price experimentation with strategic buyers
• The Ignorant Monopolist: Optimal Learning with Endogenous Information
• Optimal exploration-exploitation in a multi-armed bandit problem with non-stationary rewards
• Optimal stopping problems in Lévy models with random observations

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