We present an optimal control framework of dynamic pricing when (1) consumer behaviour is prone to a reference price and (2) the online channel is subject to ...
The managerial recommendations show how a retailer sets differentiated dynamic pricing policies when offline and online channels are integrated. Such ...
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As the firm manipulates prices, consumers form a reference price that adjusts as an anchoring standard based on price perceptions. Purchase decisions are made ...
Dynamic pricing enables online retailers to dynamically adjust prices in response to demand and supply conditions. However, dynamically changing prices may ...
Dynamic pricing enables online retailers to dynamically adjust prices in response to demand and supply conditions. However, dynamically changing prices may ...
Missing: integrated offline
Jun 15, 2024 · We have developed a dynamic pricing, replenishment, and rationing model for omni-channel retailers using a two-level partially observed Markov decision process.
Dynamic pricing with reference price effects in integrated online and offline retailing ... Marketing: Dynamic Pricing and Advertising for an Online Retailer.
Dynamic pricing with reference price effects in integrated online and offline retailing · Régis Y. ChenavazW. KlibiR. Schlosser. Economics, Business. Int. J ...
Feb 5, 2021 · This paper utilizes the consumers' reference price in prospect theory to analyze an omnichannel retailer's multiperiod pricing and inventory management problem
It allows merchants to deploy the full width of pricing strategies, from simple rule-based strategies to more sophisticated data-driven strategies using machine ...