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)

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

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