This paper considers the problem of changing prices over time to maximize expected revenues in the presence of unknown demand distribution parameters. It provides and compares several methods that use the sequence of past prices and observed demands to set price in the current period. A Taylor...

This paper considers the problem of changing prices over time to maximize expectedrevenues in the presence of unknown demand distribution parameters. It providesand compares several methods that use the sequence of past prices and observeddemands to set price in the current period. A Taylor...