Dynamic Pricing In The Presence Of Strategic Consumer With Product And Intertemporal Substitution

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Dynamic Allocation and Pricing

Author : Alex Gershkov
Publisher : MIT Press
ISBN 13 : 0262028409
Total Pages : 209 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Dynamic Allocation and Pricing by : Alex Gershkov

Download or read book Dynamic Allocation and Pricing written by Alex Gershkov and published by MIT Press. This book was released on 2014-12-12 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods. Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings. Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents.

New Developments in the Analysis of Market Structure

Author : International Economic Association
Publisher : MIT Press
ISBN 13 : 9780262690935
Total Pages : 588 pages
Book Rating : 4.6/5 (99 download)

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Book Synopsis New Developments in the Analysis of Market Structure by : International Economic Association

Download or read book New Developments in the Analysis of Market Structure written by International Economic Association and published by MIT Press. This book was released on 1986 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: These contributions discuss a number of important developments over the past decade in a newly established and important field of economics that have led to notable changes in views on governmental competition policies. They focus on the nature and role of competition and other determinants of market structures, such as numbers of firms and barriers to entry; other factors which determine the effective degree of competition in the market; the influence of major firms (especially when these pursue objectives other than profit maximization); and decentralization and coordination under control relationships other than markets and hierarchies.ContributorsJoseph E. Stiglitz, G. C. Archibald, B. C. Eaton, R. G. Lipsey, David Enaoua, Paul Geroski, Alexis Jacquemin, Richard J. Gilbert, Reinhard Selten, Oliver E. Williamson, Jerry R. Green, G. Frank Mathewson, R. A. Winter, C. d'Aspremont, J. Jaskold Gabszewicz, Steven Salop, Branko Horvat, Z. Roman, W. J. Baumol, J. C. Panzar, R. D. Willig, Richard Schmalensee, Richard Nelson, Michael Scence, and Partha Dasgupta

The Oxford Handbook of Pricing Management

Author : Özalp Özer
Publisher : OUP Oxford
ISBN 13 : 0191634263
Total Pages : 976 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis The Oxford Handbook of Pricing Management by : Özalp Özer

Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by OUP Oxford. This book was released on 2012-06-07 with total page 976 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.

Industrial Organization and the Digital Economy

Author : Gerhard Illing
Publisher : MIT Press
ISBN 13 : 0262090414
Total Pages : 316 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Industrial Organization and the Digital Economy by : Gerhard Illing

Download or read book Industrial Organization and the Digital Economy written by Gerhard Illing and published by MIT Press. This book was released on 2006 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical and factual studies of ways that the rapidly evolving digital economy has changed the structure of different industries, focusing on the software and music industries.

Consumer-Driven Demand and Operations Management Models

Author : Serguei Netessine
Publisher : Springer Science & Business Media
ISBN 13 : 0387980261
Total Pages : 488 pages
Book Rating : 4.3/5 (879 download)

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Book Synopsis Consumer-Driven Demand and Operations Management Models by : Serguei Netessine

Download or read book Consumer-Driven Demand and Operations Management Models written by Serguei Netessine and published by Springer Science & Business Media. This book was released on 2009-06-02 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book is by top scholars in supply chain management, revenue management, and e-commerce, all of which are grounded in information technologies and consumer demand research. The book looks at new selling techniques designed to reach the consumer.

Commodity Price Dynamics

Author : Craig Pirrong
Publisher : Cambridge University Press
ISBN 13 : 1139501976
Total Pages : 239 pages
Book Rating : 4.1/5 (395 download)

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Book Synopsis Commodity Price Dynamics by : Craig Pirrong

Download or read book Commodity Price Dynamics written by Craig Pirrong and published by Cambridge University Press. This book was released on 2011-10-31 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodities have become an important component of many investors' portfolios and the focus of much political controversy over the past decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling - and extreme - movements in the prices of commodities from aluminium to oil to soybeans to zinc.

Handbook of Pricing Research in Marketing

Author : Vithala R. Rao
Publisher : Edward Elgar Publishing
ISBN 13 : 1848447442
Total Pages : 617 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis Handbook of Pricing Research in Marketing by : Vithala R. Rao

Download or read book Handbook of Pricing Research in Marketing written by Vithala R. Rao and published by Edward Elgar Publishing. This book was released on 2009 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing is an essential aspect of the marketing mix for brands and products. Further, pricing research in marketing is interdisciplinary, utilizing economic and psychological concepts with special emphasis on measurement and estimation. This unique Handbook provides current knowledge of pricing in a single, authoritative volume and brings together new cutting-edge research by established marketing scholars on a range of topics in the area. The environment in which pricing decisions and transactions are implemented has changed dramatically, mainly due to the advent of the Internet and the practices of advance selling and yield management. Over the years, marketing scholars have incorporated developments in game theory and microeconomics, behavioral decision theory, psychological and social dimensions and newer market mechanisms of auctions in their contributions to pricing research. These chapters, specifically written for this Handbook, cover these various developments and concepts as applied to tackling pricing problems. Academics and doctoral students in marketing and applied economics, as well as pricing-focused business practitioners and consultants, will appreciate the state-of-the-art research herein.

Pricing and Revenue Optimization

Author : Robert Phillips
Publisher : Stanford University Press
ISBN 13 : 0804781648
Total Pages : 470 pages
Book Rating : 4.8/5 (47 download)

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Book Synopsis Pricing and Revenue Optimization by : Robert Phillips

Download or read book Pricing and Revenue Optimization written by Robert Phillips and published by Stanford University Press. This book was released on 2005-08-05 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive 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. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact [email protected].

Price Discrimination Via Proprietary Aftermarkets

Author : Eric Emch
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Price Discrimination Via Proprietary Aftermarkets by : Eric Emch

Download or read book Price Discrimination Via Proprietary Aftermarkets written by Eric Emch and published by . This book was released on 2000 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of the Economics of Marketing

Author :
Publisher : Elsevier
ISBN 13 : 0444637656
Total Pages : 634 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Handbook of the Economics of Marketing by :

Download or read book Handbook of the Economics of Marketing written by and published by Elsevier. This book was released on 2019-09-19 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Economics of Marketing, Volume One: Marketing and Economics mixes empirical work in industrial organization with quantitative marketing tools, presenting tactics that help researchers tackle problems with a balance of intuition and skepticism. It offers critical perspectives on theoretical work within economics, delivering a comprehensive, critical, up-to-date, and accessible review of the field that has always been missing. This literature summary of research at the intersection of economics and marketing is written by, and for, economists, and the book's authors share a belief in analytical and integrated approaches to marketing, emphasizing data-driven, result-oriented, pragmatic strategies. - Helps academic and non-academic economists understand recent, rapid changes in the economics of marketing - Designed for economists already convinced of the benefits of applying economics tools to marketing - Written for those who wish to become quickly acquainted with the integration of marketing and economics

Revenue Management

Author : Robert G. Cross
Publisher : Crown Currency
ISBN 13 : 0307788989
Total Pages : 289 pages
Book Rating : 4.3/5 (77 download)

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Book Synopsis Revenue Management by : Robert G. Cross

Download or read book Revenue Management written by Robert G. Cross and published by Crown Currency. This book was released on 2011-04-27 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the man the Wall Street Journal hailed as "the guru of Revenue Management" comes revolutionary ways to recover from the after effects of downsizing and refocus your business on growth. Whatever happened to growth? In Revenue Management, Robert G. Cross answers this question with his ground-breaking approach to revitalizing businesses: focusing on the revenue side of the ledger instead of the cost side. The antithesis of slash-and-burn methods that left companies with empty profits and dissatisfied stockholders, Revenue Management overturns conventional thinking on marketing strategies and offers the key to initiating and sustaining growth. Using case studies from a variety of industries, small businesses, and nonprofit organizations, Cross describes no-tech, low-tech, and high-tech methods that managers can use to increase revenue without increasing products or promotions; predict consumer behavior; tap into new markets; and deliver products and services to customers effectively and efficiently. His proven tactics will help any business dramatically improve its bottom line by meeting the challenge of matching supply with demand.

INFORMS Annual Meeting

Author : Institute for Operations Research and the Management Sciences. National Meeting
Publisher :
ISBN 13 :
Total Pages : 416 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis INFORMS Annual Meeting by : Institute for Operations Research and the Management Sciences. National Meeting

Download or read book INFORMS Annual Meeting written by Institute for Operations Research and the Management Sciences. National Meeting and published by . This book was released on 2007 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Auction Theory

Author : Vijay Krishna
Publisher : Academic Press
ISBN 13 : 0080922937
Total Pages : 337 pages
Book Rating : 4.0/5 (89 download)

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Book Synopsis Auction Theory by : Vijay Krishna

Download or read book Auction Theory written by Vijay Krishna and published by Academic Press. This book was released on 2009-09-28 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auction Theory, Second Edition improves upon his 2002 bestseller with a new chapter on package and position auctions as well as end-of-chapter questions and chapter notes. Complete proofs and new material about collusion complement Krishna's ability to reveal the basic facts of each theory in a style that is clear, concise, and easy to follow. With the addition of a solutions manual and other teaching aids, the 2e continues to serve as the doorway to relevant theory for most students doing empirical work on auctions. - Focuses on key auction types and serves as the doorway to relevant theory for those doing empirical work on auctions - New chapter on combinatorial auctions and new analyses of theory-informed applications - New chapter-ending exercises and problems of varying difficulties support and reinforce key points

The Existence of Equilibrium in Discontinuous Economic Games

Author : London School of Economics and Political Science
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (143 download)

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Book Synopsis The Existence of Equilibrium in Discontinuous Economic Games by : London School of Economics and Political Science

Download or read book The Existence of Equilibrium in Discontinuous Economic Games written by London School of Economics and Political Science and published by . This book was released on 1982 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Strategic Asset Allocation

Author : John Y. Campbell
Publisher : OUP Oxford
ISBN 13 : 019160691X
Total Pages : 272 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis Strategic Asset Allocation by : John Y. Campbell

Download or read book Strategic Asset Allocation written by John Y. Campbell and published by OUP Oxford. This book was released on 2002-01-03 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic finance has had a remarkable impact on many financial services. Yet long-term investors have received curiously little guidance from academic financial economists. Mean-variance analysis, developed almost fifty years ago, has provided a basic paradigm for portfolio choice. This approach usefully emphasizes the ability of diversification to reduce risk, but it ignores several critically important factors. Most notably, the analysis is static; it assumes that investors care only about risks to wealth one period ahead. However, many investors—-both individuals and institutions such as charitable foundations or universities—-seek to finance a stream of consumption over a long lifetime. In addition, mean-variance analysis treats financial wealth in isolation from income. Long-term investors typically receive a stream of income and use it, along with financial wealth, to support their consumption. At the theoretical level, it is well understood that the solution to a long-term portfolio choice problem can be very different from the solution to a short-term problem. Long-term investors care about intertemporal shocks to investment opportunities and labor income as well as shocks to wealth itself, and they may use financial assets to hedge their intertemporal risks. This should be important in practice because there is a great deal of empirical evidence that investment opportunities—-both interest rates and risk premia on bonds and stocks—-vary through time. Yet this insight has had little influence on investment practice because it is hard to solve for optimal portfolios in intertemporal models. This book seeks to develop the intertemporal approach into an empirical paradigm that can compete with the standard mean-variance analysis. The book shows that long-term inflation-indexed bonds are the riskless asset for long-term investors, it explains the conditions under which stocks are safer assets for long-term than for short-term investors, and it shows how labor income influences portfolio choice. These results shed new light on the rules of thumb used by financial planners. The book explains recent advances in both analytical and numerical methods, and shows how they can be used to understand the portfolio choice problems of long-term investors.

Strategy, Predation, and Antitrust Analysis

Author : Steven C. Salop
Publisher :
ISBN 13 :
Total Pages : 772 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Strategy, Predation, and Antitrust Analysis by : Steven C. Salop

Download or read book Strategy, Predation, and Antitrust Analysis written by Steven C. Salop and published by . This book was released on 1981 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Dynamic Asset Allocation with Forwards and Futures

Author : Abraham Lioui
Publisher : Springer Science & Business Media
ISBN 13 : 9780387241074
Total Pages : 290 pages
Book Rating : 4.2/5 (41 download)

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Book Synopsis Dynamic Asset Allocation with Forwards and Futures by : Abraham Lioui

Download or read book Dynamic Asset Allocation with Forwards and Futures written by Abraham Lioui and published by Springer Science & Business Media. This book was released on 2005-03-30 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an advanced text on the theory of forward and futures markets which aims at providing readers with a comprehensive knowledge of how prices are established and evolve over time, what optimal strategies one can expect from the participants, what characterizes such markets and what major theoretical and practical differences distinguish futures from forward contracts. It should be of interest to students (majoring in finance with quantitative skills) academics (both theoreticians and empiricists), practitioners, and regulators.