Zhao, Wen; Zheng, Yu-Sheng - In: Management Science 46 (2000) 3, pp. 375-388
We consider a dynamic pricing model for selling a given stock of a perishable product over a finite time horizon. Customers, whose reservation price distribution changes over time, arrive according to a nonhomogeneous Poisson process. We show that at any given time, the optimal price decreases...