Dynamic Pricing with Considering Customers Negotiation and Reference Price Effect, M.Sc. Thesis Sharif University of Technology ; Modarres Yazdi, Mohammad (Supervisor)
Abstract
This thesis studies optimal pricing policy of a firm selling perishable products in a retail store facing stochastic arrival of customers whom may ask for a bargain. With the tremendous growth of the internet and online sale channels, the ability of customers to get detailed information about previous sales creates an expectation for reasonable price of product in customers' opinion called reference price which has great impacts on their willingness to pay. In this work, we address the problem of determining a pricing strategy considering reference price effects in addition to customers' negotiation ability. We use dynamic programming to model retailer's problem, which considering reference...
Cataloging briefDynamic Pricing with Considering Customers Negotiation and Reference Price Effect, M.Sc. Thesis Sharif University of Technology ; Modarres Yazdi, Mohammad (Supervisor)
Abstract
This thesis studies optimal pricing policy of a firm selling perishable products in a retail store facing stochastic arrival of customers whom may ask for a bargain. With the tremendous growth of the internet and online sale channels, the ability of customers to get detailed information about previous sales creates an expectation for reasonable price of product in customers' opinion called reference price which has great impacts on their willingness to pay. In this work, we address the problem of determining a pricing strategy considering reference price effects in addition to customers' negotiation ability. We use dynamic programming to model retailer's problem, which considering reference...
Find in contentBookmark |
|