Asymptotically Tight Bounds on the Optimal Pricing Strategy with Patient Customers
成果类型：
Article
署名作者：
Qian, Shuaijie; Su, Xizhi; Zhou, Chao
署名单位：
Hong Kong University of Science & Technology; National University of Singapore; National University of Singapore
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.2021.0459
发表日期：
2025
关键词：
摘要：
This work considers a monopolist seller facing both patient and impatient customers. Given the current price, the impatient customers will either purchase or leave immediately, depending on the relative magnitude between this price and their valuation of the product. In comparison, the patient customers will wait for some periods to see if the price will drop to their valuation, and if that occurs, they will purchase immediately. The monopolist designs the pricing strategy to maximize the long-run average revenue from them. We give tight bounds on both the optimal strategy's cycle period and the optimal revenue when the patient customers possess a high patience level. This result answers the open question of the optimal cycle period raised by extant work. Later we also extend our theoretical result to the general case with multiple patience levels.
来源URL：