It is somewhat common for heterodox economists to come to the defense of neoclassical microeconomic theory. This is due to many reasons, but perhaps the commonest one is ignorance. It seems that most heterodox economists are not aware of the many critiques or that as a collective they completely...

We have developed a computerized version of Charles Holt’s classical market game that can be used even in classes with a large audience. The Pit market game gives students intuitive access to the interaction of supply and demand in real-world markets. Even though trade can take place at...

Dynamic pricing is considered a possibility to gain an advantage over competitors in modern online markets. The past advancements in Reinforcement Learning (RL) provided more capable algorithms that can be used to solve pricing problems. In this paper, we study the performance of Deep Q-Networks...

The benefits of dynamic pricing methods have long been known in industries, such as airlines, hotels, and electric utilities, where the capacity is fixed in the short-term and perishable. In recent years, there has been an increasing adoption of dynamic pricing policies in retail and other...

Group-buying auction is a new business model in e-commerce. This auction has its own characteristics that make it distinct from other types of auctions. Customers' waiting time is an inherent attribute for group-buying auction. However, this attribute is rarely considered in the previous pricing...

Preisalgorithmen sind aus dem heutigen Online-Handel nicht mehr wegzudenken. Die Nutzung von Preisalgorithmen wirft dabei grundlegende Fragen danach auf, wie wir Wettbewerb verstehen und schützen. Diese Arbeit analysiert die Auswirkungen der Nutzung von Preisalgorithmen in...