Technical Note—Dynamic Pricing and Demand Learning with Limited Price Experimentation

References

• Aviv Y, Vulcano G (2012) Dynamic list pricing. Özer Ö, Phillips R, eds. The Oxford Handbook of Pricing Management (Oxford University Press, Oxford, UK), 522–584.Crossref, Google Scholar
• Besbes O, Zeevi A (2009) Dynamic pricing without knowing the demand function: Risk bounds and near-optimal algorithms. Oper. Res. 57(6):1407–1420.Link, Google Scholar
• Besbes O, Zeevi A (2015) On the (surprising) sufficiency of linear models for dynamic pricing with demand learning. Management Sci. 61(4):723–739.Link, Google Scholar
• Bitran GR, Mondschein SV (1997) Periodic pricing of seasonal products in retailing. Management Sci. 43(1):64–79.Link, Google Scholar
• Boyacı T, Özer Ö (2010) Information acquisition for capacity planning via pricing and advance selling: When to stop and act? Oper. Res. 58(5):1328–1349.Link, Google Scholar
• Broder J (2011) Online algorithms for revenue management. PhD thesis, Cornell University, Ithaca, NY.Google Scholar
• Broder J, Rusmevichientong P (2012) Dynamic pricing under a general parametric choice model. Oper. Res. 60(4):965–980.Link, Google Scholar
• Caro F, Gallien J (2012) Clearance pricing optimization for a fast-fashion retailer. Oper. Res. 60(6):1404–1422.Link, Google Scholar
• Chen Q, Jasin S, Duenyas I (2015) Real-time dynamic pricing with minimal and flexible price adjustment. Management Sci. 62(8): 2437–2455.Link, Google Scholar
• den Boer AV (2014) Dynamic pricing with multiple products and partially specified demand distribution. Math. Oper. Res. 39(3): 863–888.Link, Google Scholar
• den Boer AV (2015) Dynamic pricing and learning: Historical origins, current research, and new directions. Surveys Oper. Res. Management Sci. 20(1):1–18.Crossref, Google Scholar
• den Boer A, Zwart B (2014) Simultaneously learning and optimizing using controlled variance pricing. Management Sci. 60(3): 770–783.Link, Google Scholar
• Feng Y, Gallego G (1995) Optimal starting times for end-of-season sales and optimal stopping times for promotional fares. Management Sci. 41(8):1371–1391.Link, Google Scholar
• Harrison J, Keskin N, Zeevi A (2012) Bayesian dynamic pricing policies: Learning and earning under a binary prior distribution. Management Sci. 58(3):570–586.Link, Google Scholar
• Keskin NB, Zeevi A (2014) Dynamic pricing with an unknown demand model: Asymptotically optimal semi-myopic policies. Oper. Res. 62(5):1142–1167.Link, Google Scholar
• Kleinberg R, Leighton T (2003) The value of knowing a demand curve: Bounds on regret for online posted-price auctions. Proc. 44th Annual IEEE Sympos. Foundations Comput. Sci. (IEEE Computer Society, Washington, DC), 594–605.Crossref, Google Scholar
• Mersereau AJ, Rusmevichientong P, Tsitsiklis JN (2009) A structured multiarmed bandit problem and the greedy policy. IEEE Trans. Automatic Control 54(12):2787–2802.Crossref, Google Scholar
• Netessine S (2006) Dynamic pricing of inventory/capacity with infrequent price changes. Eur. J. Oper. Res. 174(1):553–580.Crossref, Google Scholar
• Rothschild M (1974) A two-armed bandit theory of market pricing. J. Econom. Theory 9(2):185–202.Crossref, Google Scholar
• Rusmevichientong P, Tsitsiklis JN (2010) Linearly parameterized bandits. Math. Oper. Res. 35(2):395–411.Link, Google Scholar
• Wang Z, Deng S, Ye Y (2014) Close the gaps: A learning-while-doing algorithm for single-product revenue management problems. Oper. Res. 62(2):318–331.Link, Google Scholar
• Zbaracki MJ, Ritson M, Levy D, Dutta S, Bergen M (2004) Managerial and customer costs of price adjustment: Direct evidence from industrial markets. Rev. Econom. Statist. 86(2):514–533.Crossref, Google Scholar