In this paper we analyze a stochastic dynamic advertising and pricing model with isoelastic demand. The state space is discrete, time is continuous and the planing horizon is allowed to be finite or infinite. A dynamic version of the Dorfman–Steiner identity will be derived. Explicit...

In [21], Sethi et al. introduced a particular new-product adoption model. They determine optimal advertising and pricing policies of an associated deterministic infinite horizon discounted control problem. Their analysis is based on the fact that the corresponding Hamilton–Jacobi–Bellman...

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...