Dynamic Pricing with Demand Covariates

Sheng Qiang
Sheng Qiang

arXiv: Machine Learning, 2016.

Cited by: 0|Views7

Abstract:

We consider a firm that sells a product over T periods without knowing the demand function. The firm sequentially sets prices to earn revenue and to learn the underlying demand function simultaneously. In practice, this problem is commonly solved via greedy iterative least squares (GILS). At each time period, GILS estimates the demand as ...More

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