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Algorithmic Pricing
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Book Synopsis Behavioral Consequences of Dynamic Pricing by : David Prakash
Download or read book Behavioral Consequences of Dynamic Pricing written by David Prakash and published by BoD – Books on Demand. This book was released on 2022-07-28 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digital technologies are driving the application of dynamic pricing. Today, this pricing strategy is used not only for perishable products such as flights or hotel rooms, but for almost any product or service category. With dynamic pricing, retailers frequently adjust their prices over time to respond to factors such as demand, their supply and that of competitors, or the time of sale. Additionally, dynamic pricing allows retailers to take advantage of a large share of consumers' willingness to pay while avoiding losses from unsold products. Ultimately, this can lead to an increase in revenue and profit. However, the application of dynamic pricing comes with great challenges. In addition to the technological implementation, companies have to take into account that dynamic pricing can cause complex and unintended behavioral consequences on the consumer side. The key objective of this dissertation is to provide a deeper understanding of the impact of dynamic pricing on consumer behavior. To this end, this dissertation presents insights from four perspectives. First, how reference prices as a critical component in purchase decisions are operationalized. Second, how customers search for products priced dynamically, differentiated by business and private customers, as well as by different devices used for the search. Third, whether and how dynamic pricing influences the impact of internal reference prices on purchase decisions. Finally, this dissertation demonstrates that consumers perceive price changes as personalized in different purchase contexts, leading to reduced perceptions of fairness and undesirable behavioral consequences.
Book Synopsis The Making of a Fly by : P. A. Lawrence
Download or read book The Making of a Fly written by P. A. Lawrence and published by Wiley-Blackwell. This book was released on 1992-04-15 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding how a multicellular animal develops from a single cell (the fertilized egg) poses one of the greatest challenges in biology today. Development from egg to adult involves the sequential expression of virtually the whole of an organism's genetic instructions both in the mother as she lays down developmental cues in the egg, and in the embryo itself. Most of our present information on the role of genes in development comes from the invertebrate fruit fly, Drosophila. The two authors of this text (amongst the foremost authorities in the world) follow the developmental process from fertilization through the primitive structural development of the body plan of the fly after cleavage into the differentiation of the variety of tissues, organs and body parts that together define the fly. The developmental processes are fully explained throughout the text in the modern language of molecular biology and genetics. This text represents the vital synthesis of the subject that many have been waiting for and it will enable many specific courses in developmental biology and molecular genetics to focus on it. It will appeali to 2nd and 3rd year students in these disciplines as well as in biochemistry, neurobiology and zoology. It will also have widespread appeal among researchers. Authored by one of the foremost authorities in the world. A unique synthesis of the developmental cycle of Drosophila - our major source of information on the role of genes in development. Designed to provide the basis of new courses in developmental biology and molecular genetics at senior undergraduate level. A lucid explanation in the modern language of the science.
Download or read book Digital Pricing written by Frank Frohmann and published by Springer Nature. This book was released on 2023-03-03 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the first books to combine the current megatrend of digitalization and pricing as the most effective lever for increasing and sustaining profits. The book presents the basics of digital pricing as well as modeling methods and implementation examples. This structure helps in tackling the latest developments and challenges due to digitalization. Readers will gain a detailed insight into using innovative revenue and price models to generate a sustainable competitive advantage for their companies. The author uses his cross-industry experience to draw on several examples of innovative digital pricing approaches which can be applied in industrial sectors such as automotive, industrial goods and machinery, as well as service sectors like telecommunications, transportation and tourism.
Book Synopsis Algorithmic Antitrust by : Aurelien Portuese
Download or read book Algorithmic Antitrust written by Aurelien Portuese and published by Springer Nature. This book was released on 2022-01-21 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Algorithms are ubiquitous in our daily lives. They affect the way we shop, interact, and make exchanges on the marketplace. In this regard, algorithms can also shape competition on the marketplace. Companies employ algorithms as technologically innovative tools in an effort to edge out competitors. Antitrust agencies have increasingly recognized the competitive benefits, but also competitive risks that algorithms entail. Over the last few years, many algorithm-driven companies in the digital economy have been investigated, prosecuted and fined, mostly for allegedly unfair algorithm design. Legislative proposals aim at regulating the way algorithms shape competition. Consequently, a so-called “algorithmic antitrust” theory and practice have also emerged. This book provides a more innovation-driven perspective on the way antitrust agencies should approach algorithmic antitrust. To date, the analysis of algorithmic antitrust has predominantly been shaped by pessimistic approaches to the risks of algorithms on the competitive environment. With the benefit of the lessons learned over the last few years, this book assesses whether these risks have actually materialized and whether antitrust laws need to be adapted accordingly. Effective algorithmic antitrust requires to adequately assess the pro- and anti-competitive effects of algorithms on the basis of concrete evidence and innovation-related concerns. With a particular emphasis on the European perspective, this book brings together experts and scrutinizes on the implications of algorithmic antitrust for regulation and innovation.
Book Synopsis Algorithmic Pricing Based on Big Data. A Critical Reflection by : Lukas Kern
Download or read book Algorithmic Pricing Based on Big Data. A Critical Reflection written by Lukas Kern and published by . This book was released on 2020-08-21 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2020 in the subject Business economics - Customer Relationship Management, CRM, grade: 1,0, language: English, abstract: Setting the right product prices is crucial for companies and is part of their marketing mix and image. For instance, deviations from "optimal" sales prices can lead to considerable losses in revenue and margin. However, a huge amount of data affect the "optimal" price and the pricing process requires extensive manual resources. Advanced algorithms like machine learning might have the potential to overcome the aforementioned challenges with almost no manual interactions. Pricing algorithms constantly automate and optimize pricing decisions based on the available data. Besides positive one-time effects of price optimizations, algorithmic pricing enables companies to implement new pricing strategies like dynamic pricing, price personalization, and markdown pricing. This master thesis combines the results of a literature review and expert interviews to solve three questions: What is the research gap between the current state of the literature and business practice regarding the use of advanced algorithms based on big data for algorithmic pricing? What progress and insights have companies made in using algorithmic pricing? And how can algorithmic pricing be enhanced for future application? The master thesis starts by explaining the basic concepts of algorithmic pricing and relevant technologies. Therefore, the results and takeaways are useful for business managers without prior experience in this area. This master thesis then provides corporate decision makers with recommendations on what to consider for new pricing algorithms and on opportunities for future development of existing pricing algorithms.
Book Synopsis Getting Price Right by : Gerald Smith
Download or read book Getting Price Right written by Gerald Smith and published by Columbia University Press. This book was released on 2021-10-12 with total page 537 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner, 2022 Leonard L. Berry Marketing Book Award, American Marketing Association How do leaders, managers, and proprietors go about the essential task of setting prices? What biases enter into this process, and why? How can a business debias its price setting to become more productive, strategic, and profitable? Combining perceptive insights from behavioral economics with leading-edge ideas on price management, this book offers a new approach to pricing. Gerald Smith demonstrates why understanding, reframing, and refining everyday pricing processes—a firm’s or manager’s pricing orientation—results in a better long-term pricing strategy. He explores how pricing actually happens in practice and shows how to identify and remove the psychological blinders that cause suboptimal decisions and policies. Smith details how to improve pricing orientation by combining the soft behavioral skills that intuitively shape and refine pricing practice with the hard analytic skills that guide and structure pricing strategy. The result is more rational and more profitable pricing—with respect to not only revenue and profitability but also employee productivity and customer satisfaction. Offering an accessible and actionable model, Getting Price Right is the first book to apply behavioral economics to managerial price setting. It is a must-read for corporate business leaders, thought leaders, and professionals interested in advances in pricing and for managers, entrepreneurs, proprietors, and small and midsize business owners whose everyday work involves pricing.
Download or read book The Ends Game written by Marco Bertini and published by MIT Press. This book was released on 2022-01-11 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: How companies like Dollar Shave Club and Rent the Runway rewrite the rules of commerce by pursuing outcomes rather than products and services. The seventh book in the Management on the Cutting Edge series—for business professionals looking to do deliver excellent customer service while maximizing value and revenue. Would you rather pay for healthcare or for better health? For school or education? For groceries or nutrition? A car or transportation? A theater performance or entertainment? In The Ends Game, Marco Bertini and Oded Koenigsberg describe how some firms are rewriting the rules of commerce: instead of selling the “means” (their products and services), they adopt innovative revenue models to pursue “ends” (actual outcomes). They examine companies such as: • Dollar Shave Club • Rent the Runway • Netflix • Spotify • Michelin • Adobe • Pearson • And many more! They show that paying by the pill, semester, food item, vehicle, or show does not necessarily reflect the value that customers actually derive from their purchases. Revenue models anchored on the ownership of products, they argue, are patently inferior.
Book Synopsis The Science of Algorithmic Trading and Portfolio Management by : Robert Kissell
Download or read book The Science of Algorithmic Trading and Portfolio Management written by Robert Kissell and published by Academic Press. This book was released on 2013-10-01 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Science of Algorithmic Trading and Portfolio Management, with its emphasis on algorithmic trading processes and current trading models, sits apart from others of its kind. Robert Kissell, the first author to discuss algorithmic trading across the various asset classes, provides key insights into ways to develop, test, and build trading algorithms. Readers learn how to evaluate market impact models and assess performance across algorithms, traders, and brokers, and acquire the knowledge to implement electronic trading systems. This valuable book summarizes market structure, the formation of prices, and how different participants interact with one another, including bluffing, speculating, and gambling. Readers learn the underlying details and mathematics of customized trading algorithms, as well as advanced modeling techniques to improve profitability through algorithmic trading and appropriate risk management techniques. Portfolio management topics, including quant factors and black box models, are discussed, and an accompanying website includes examples, data sets supplementing exercises in the book, and large projects. - Prepares readers to evaluate market impact models and assess performance across algorithms, traders, and brokers. - Helps readers design systems to manage algorithmic risk and dark pool uncertainty. - Summarizes an algorithmic decision making framework to ensure consistency between investment objectives and trading objectives.
Book Synopsis Artificial Intelligence, Social Harms and Human Rights by : Aleš Završnik
Download or read book Artificial Intelligence, Social Harms and Human Rights written by Aleš Završnik and published by Springer Nature. This book was released on 2023-01-12 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book critically explores how and to what extent artificial intelligence (AI) can infringe human rights and/or lead to socially harmful consequences and how to avoid these. The European Union has outlined how it will use big data, machine learning, and AI to tackle a number of inherently social problems, including poverty, climate change, social inequality and criminality. The contributors of this book argue that the developments in AI must take place in an appropriate legal and ethical framework and they make recommendations to ensure that harm and human rights violations are avoided. The book is split into two parts: the first addresses human rights violations and harms that may occur in relation to AI in different domains (e.g. border control, surveillance, facial recognition) and the second part offers recommendations to address these issues. It draws on interdisciplinary research and speaks to policy-makers and criminologists, sociologists, scholars in STS studies, security studies scholars and legal scholars.
Book Synopsis Research Handbook on the Law of Artificial Intelligence by : Woodrow Barfield
Download or read book Research Handbook on the Law of Artificial Intelligence written by Woodrow Barfield and published by Edward Elgar Publishing. This book was released on 2018-12-28 with total page 731 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of artificial intelligence (AI) has made tremendous advances in the last two decades, but as smart as AI is now, it is getting smarter and becoming more autonomous. This raises a host of challenges to current legal doctrine, including whether AI/algorithms should count as ‘speech’, whether AI should be regulated under antitrust and criminal law statutes, and whether AI should be considered as an agent under agency law or be held responsible for injuries under tort law. This book contains chapters from US and international law scholars on the role of law in an age of increasingly smart AI, addressing these and other issues that are critical to the evolution of the field.
Book Synopsis Summary of Harvard Business Review's HBR's 10 Must Reads on AI by : Milkyway Media
Download or read book Summary of Harvard Business Review's HBR's 10 Must Reads on AI written by Milkyway Media and published by Milkyway Media. This book was released on 2024-01-22 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get the Summary of Harvard Business Review's HBR's 10 Must Reads on AI in 20 minutes. Please note: This is a summary & not the original book. "HBR's 10 Must Reads on AI" explores the transformative impact of artificial intelligence (AI) on business models and operations. Companies like Ant Financial and tech giants such as Google and Facebook have leveraged AI to automate decision-making and outperform traditional businesses. The "AI factory" model, consisting of data pipelines, algorithms, experimentation platforms, and infrastructure, enables dynamic decision-making and scalability...
Book Synopsis Smart Urban Mobility by : Michèle Finck
Download or read book Smart Urban Mobility written by Michèle Finck and published by Springer Nature. This book was released on 2020-09-28 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book adds a critical perspective to the legal dialogue on the regulation of ‘smart urban mobility’. Mobility is one of the most visible sub-domains of the ‘smart city’, which has become shorthand for technological advances that influence how cities are structured, public services are fashioned, and citizens coexist. In the urban context, mobility has come under pressure due to a variety of different forces, such as the implementation of new business models (e.g. car and bicycle sharing), the proliferation of alternative methods of transportation (e.g. electric scooters), the emergence of new market players and stakeholders (e.g. internet and information technology companies), and advancements in computer science (in particular due to artificial intelligence). At the same time, demographic changes and the climate crisis increase innovation pressure. In this context law is a seminal factor that both shapes and is shaped by socio-economic and technological change. This book puts a spotlight on recent developments in smart urban mobility from a legal, regulatory, and policy perspective. It considers the implications for the public sector, businesses, and citizens in relation to various areas of public and private law in the European Union, including competition law, intellectual property law, contract law, data protection law, environmental law, public procurement law, and legal philosophy. Chapter 'Location Data as Contractual Counter-Performance: A Consumer Perspective on Recent EU Legislation' of this book is available open access under a CC BY 4.0 license at link.springer.com.
Book Synopsis Pricing and Revenue Optimization by : Robert L. Phillips
Download or read book Pricing and Revenue Optimization written by Robert L. Phillips and published by Stanford University Press. This book was released on 2021-05-18 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers the first introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. With updates to every chapter, this second edition covers topics such as estimation of price-response functions and machine-learning-based price optimization. New discussions of applications of dynamic pricing and revenue management by companies such as Amazon, Uber, and Disney, and in industries such as sports, theater, and electric power, are also included. In addition, the book provides current coverage of important applications such as revenue management, markdown management, customized pricing, and the behavioral economics of pricing.
Book Synopsis The Impact of Digitalization on Current Marketing Strategies by : Luis Matosas-López
Download or read book The Impact of Digitalization on Current Marketing Strategies written by Luis Matosas-López and published by Emerald Group Publishing. This book was released on 2024-03-14 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digitalization completely has transformed marketing. It has changed consumption habits, consumer behaviour, and purchasing processes. In addition, it has modified marketing strategies, tactics, and processes, offering a wide range of mechanisms that allow companies, of all types and sizes, to enhance their commercial actions.
Book Synopsis Research Handbook on Cartels by : Peter Whelan
Download or read book Research Handbook on Cartels written by Peter Whelan and published by Edward Elgar Publishing. This book was released on 2023-03-02 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing together a variety of perspectives, this accessible yet comprehensive Research Handbook provides an in-depth analysis of the most significant issues pertaining to the legal regulation of cartels. An interdisciplinary team of respected experts explores the theoretical, legal, economic, political, and comparative discourse surrounding cartel regulation.
Book Synopsis Elgar Encyclopedia of Pricing by : Andreas Hinterhuber
Download or read book Elgar Encyclopedia of Pricing written by Andreas Hinterhuber and published by Edward Elgar Publishing. This book was released on 2024-07-05 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Elgar Encyclopedia of Pricing presents a holistic view of cutting-edge topics, practical insights, and global perspectives on pricing. In-depth entries cover everything from behavioral pricing and artificial intelligence to sustainability pricing strategies and dynamic online pricing.
Book Synopsis Frontiers in Algorithmics and Algorithmic Aspects in Information and Management by : Jack Snoeyink
Download or read book Frontiers in Algorithmics and Algorithmic Aspects in Information and Management written by Jack Snoeyink and published by Springer. This book was released on 2012-04-29 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the 6th International Frontiers of Algorithmics Workshop, FAW 2012, and the 8th International Conference on Algorithmic Aspects in Information and Management, AAIM 2012, jointly held in Beijing, China, in May 2012. The 33 revised full papers presented together with 4 invited talks were carefully reviewed and selected from 81 submissions. The papers are organized in topical sections on algorithms and data structures, algorithmic game theory and incentive analysis, biomedical imaging algorithms, communication networks and optimization, computational learning theory, knowledge discovery, and data mining, experimental algorithmic methodologies, optimization algorithms in economic and operations research, pattern recognition algorithms and trustworthy algorithms and trustworthy software.
