Competitive Pricing in a Multi-Product Multi-Attribute Environment

• 成果类型: Article
• 署名作者: Kachani, Soulaymane; Shmatov, Kyrylo
• 署名单位: Columbia University; Columbia University
• 刊物名称: PRODUCTION AND OPERATIONS MANAGEMENT
• ISSN/ISSBN: 1059-1478
• DOI: 10.3401/poms.1080.01195
• 发表日期: 2011
• 页码: 668-680
• 关键词: Dynamic pricing; revenue management

摘要

We address the problem of simultaneous pricing of a line of several products, both complementary products and substitutes, with a number of distinct price differentiation classes for each product (e.g., volume discounts, different distribution channels, and customer segments) in both monopolistic and oligopolistic settings. We provide a generic framework to tackle this problem, consider several families of demand models, and focus on a real-world case-study example. We propose an iterative relaxation algorithm, and state sufficient conditions for convergence of the algorithm. Using historical sales and price data from a retailer, we apply our solution algorithm to suggest optimal pricing, and report on numerical results.