Business, Management and Accounting
4 years ago

Algorithms for dynamic pricing show varying success in competitive markets.

Journal of Revenue and Pricing Management
Dynamic pricing and learning with competition: insights from the dynamic pricing challenge at the 2017 INFORMS RM & pricing conference
Ruben van de Geer, Arnoud V. den Boer, Christopher Bayliss, Christine S. M. Currie, Andria Ellina, Malte Esders, Alwin Haensel, Xiao Lei, Kyle D. S. Maclean, Antonio Martínez-Sykora, Asbjørn Nilsen Riseth, Fredrik Ødegaard, Simos Zachariades

Paper Summary

The Dynamic Pricing Challenge at the 2017 INFORMS conference analyzed algorithms for pricing and demand learning in simulated market environments. Results showed that algorithm performance varied greatly depending on market dynamics, highlighting the complexity of pricing and learning in competitive settings.

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