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Dynamic pricing under first order Markovian competition

โœ Scribed by Benny Mantin; Daniel Granot; Frieda Granot


Publisher
John Wiley and Sons
Year
2011
Tongue
English
Weight
270 KB
Volume
58
Category
Article
ISSN
0894-069X

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This article develops a continuous-time dynamic pricing model for two competitive flights with stochastic control theory and game theory. Two price levels are taken into account for each flight. The condition of the equilibrium solution is derived. Solutions and corresponding properties are discusse