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This paper is devoted to the development of heuristics for the dynamic pricing problem. A discrete time model of …-Carlo experiments. Results demonstrate high efficiency of the proposed heuristic strategy and its even simpler derivatives. Heuristics …
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We study the role of heuristic versus deliberative processing in intertemporal choice. Using studies in the Democratic Republic of Congo and an online labor market, we show that waiting periods - designed to prompt deliberation by temporally separating news about choice sets from choices...
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