Dynamic pricing in the presence of inventory considerations: Research overview, current practices, and future directions

• 成果类型: Article
• 署名作者: Elmaghraby, W; Keskinocak, P
• 署名单位: University System of Georgia; Georgia Institute of Technology
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.49.10.1287.17315
• 发表日期: 2003
• 页码: 1287-1309
• 关键词: Dynamic pricing; E-commerce; revenue management; inventory

摘要

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 industries, where the sellers have the ability to store inventory. Three factors contributed to this phenomenon: (1) the increased availability of demand data, (2) the ease of changing prices due to new technologies, and (3) the availability of decision-support tools for analyzing demand data and for dynamic pricing. This paper constitutes a review of the literature and current practices in dynamic pricing. Given its applicability in most markets and its increasing adoption in practice, our focus is on dynamic (intertemporal) pricing in the presence of inventory considerations.