Dynamic Pricing with Constant Demand Elasticity
โ Scribed by R. Preston McAfee; Vera te Velde
- Book ID
- 111857213
- Publisher
- Production and Operations Management Society
- Year
- 2008
- Tongue
- English
- Weight
- 100 KB
- Volume
- 17
- Category
- Article
- ISSN
- 1059-1478
No coin nor oath required. For personal study only.
๐ SIMILAR VOLUMES
## Abstract This paper studies the dynamic pricing problem of selling fixed stock of perishable items over a finite horizon, where the decision maker does not have the necessary historic data to estimate the distribution of uncertain demand, but has imprecise information about the quantity demand.
## Abstract Much of the work on real options assumes that the underlying state variable follows a geometric Brownian motion with constant volatility. This paper uses a more general assumption for the state variable process that better captures the empirical regularities found in commodity markets.