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Learning Curve: A Simulation-Based Approach to Dynamic Pricing

✍ Scribed by Joan Morris DiMicco; Pattie Maes; Amy Greenwald


Book ID
110437192
Publisher
Springer
Year
2003
Tongue
English
Weight
699 KB
Volume
3
Category
Article
ISSN
1389-5753

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## Abstract In this paper we develop a simulation‐based approach to stochastic dynamic programming. To solve the Bellman equation we construct Monte Carlo estimates of __Q__‐values. Our method is scalable to high dimensions and works in both continuous and discrete state and decision spaces while a