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This article presents a dynamic pricing model of a retailer selling an inventory, accounting for consumer behavior. The authors propose an optimal control model, maximizing the intertemporal profit with consumers sensitive to the selling price and to a reference price. The optimal dynamic...
Persistent link: https://www.econbiz.de/10011917292
This article presents a dynamic pricing model of a retailer selling an inventory, accounting for consumer behavior. The authors propose an optimal control model, maximizing the intertemporal profit with consumers sensitive to the selling price and to a reference price. The optimal dynamic...
Persistent link: https://www.econbiz.de/10011866050
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To attract potential customers and to effectively sell their inventories over time, retailers often invest in different advertising channels and apply dynamic pricing strategies. However, to compose a beneficial marketing mix in dynamic settings is challenging. The high problem complexity is...
Persistent link: https://www.econbiz.de/10013228462
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