Dynamic Pricing in Management Science

Abstract

This paper presents a review of the literature on dynamic pricing models in management science. We discuss monopolistic and competitive situations, with an emphasis on applications in different contexts. We also describe the main development perspectives of this literature.

Dynamic Pricing and Learning: Historical Origins, Current Research, and New Directions

“…Instead, we briefly describe some of the major research streams and key references, in order to provide a context in which one can position the literature on dynamic pricing with learning discussed in Section 4. For a more elaborate overview of the vast literature on dynamic pricing, we refer to the books Talluri and van Ryzin (2004), Phillips (2005), Rao (2009),Özer andPhillips (2012), and the reviews by Bitran and Caldentey (2003), Elmaghraby and Keskinocak (2003), Heching and Leung (2005), Gönsch et al (2009), Seetharaman (2009), Chenavaz et al (2011 and Deksnyte and Lydeka (2012).…”

“…We discuss how this is embedded in the literature on dynamic pricing in general, but do not review all relevant research topics associated with dynamic pricing; for this we refer to Bitran and Caldentey (2003), Elmaghraby and Keskinocak (2003), Talluri and van Ryzin (2004), Phillips (2005), Heching and Leung (2005), Gönsch et al (2009), Rao (2009), Chenavaz et al (2011), Deksnyte and Lydeka (2012) andÖzer and Phillips (2012). We focus on studies where selling price is a control variable; we only scarcely discuss learning in capacity-based revenue management (Talluri and van Ryzin, 2004) or learning in newsvendor/inventory control problems.…”

Les déterminants de la politique de tarification dynamique sur un marché biface

“…Basée sur l'article fondateur de Bass (1969) sur la diffusion de nouveaux produits, la littérature sur la tarification de nouveaux produits est conséquente (Mahajan et Muller, 1979 ;Mahajan et al, 2000 ;Chenavaz et al, 2011). Cette littérature modélise les ventes d'un nouveau produit tout au long de son cycle de vie.…”

An analytical framework for retailer price and advertising decisions for products with temperature-sensitive demand

“…Bagwell (2007) provides an extensive survey of literature including pricing and advertising strategies. More recently, pricing and advertising have been further examined in conjunction with other contexts and elements (Chenavaz et al 2011;Chenavaz and Jasimuddin 2017;Den Boer 2015a,b). For instance, Jørgensen, Kort, and Zaccour (2009) examine a sport entertainment, Karray and Martn-Herrán (2009) differentiate national and store brands, Chutani and Sethi (2012) investigate a supply chain producing a durable good, while El Ouardighi et al (2016a) look at costly dynamic pricing.…”