Abstract:We study a single product pricing problem with demand censoring in an offline data-driven setting. In this problem, a retailer has a finite amount of inventory and faces a random demand that is price sensitive in a linear fashion with unknown price sensitivity and base demand distribution. Any unsatisfied demand that exceeds the inventory level is lost and unobservable. We assume that the retailer has access to an offline data set consisting of triples of historical price, inventory level, and potentially cens… Show more
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