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We consider a capacity provider who offers multiple versions of a single product, such as different seat locations for an event. We assume that the different versions share an unknown core value and command a known premium or discount relative to the core value. Customers arrive at an unknown...
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We study the optimal pricing of a finite quantity of seasonal goods in the presence of forward-looking strategic customers. The arrival rate of customers is unknown, and we assume the retailer and customers have the same initial belief about the arrival rate based on the information from...
Persistent link: https://www.econbiz.de/10014235725
We consider a seller who sells a product over T discrete period in the season. The arrival rate of customers is known but the parameter of customer sensitivity to price is unknown. We assume that the seller has a prior belief in this parameter, which is updated using the Bayesian rule. The...
Persistent link: https://www.econbiz.de/10014237025