Technical Note - Data-Based Dynamic Pricing and Inventory Control with Censored Demand and Limited Price Changes
Technical Note - Data-Based Dynamic Pricing and Inventory Control with Censored Demand and Limited Price Changes
复制标题
技术说明 - 基于数据的动态定价和库存控制，具有审查需求和有限的价格变化
作者：
Boxiao Chen;X. Chao;Yining Wang
定价和库存补充是零售商等公司的重要运营决策。为了有效地做出这些决策，公司需要了解需求分布及其对销售价格的依赖性，这通常是使用各种测试价格水平的销售数据来估计的。尽管更多的测试价格可以更好地估计需求价格关系，但频繁的价格变化成本高昂，并且会带来负面影响，例如客户的负面看法。在本文中，开发了数据驱动的算法，可以在价格变化次数限制的情况下学习需求结构。这些算法被证明可以收敛到最佳的洞察解，并且就利润损失而言，收敛速度是最好的。
Pricing and inventory replenishment are important operations decisions for firms such as retailers. To make these decisions effectively, a firm needs to know the demand distribution and its dependency on selling price, which is usually estimated using sales data at various testing price levels. Although more testing prices can lead to a better estimation of the demand–price relationship, frequent price changes are costly and come with adverse effect such as customers’ negative perception. In this article, data-driven algorithms are developed that learn the demand structure with constraints on the number of price changes. These algorithms are shown to converge to the optimal clairvoyant solution, and the convergence rates are the best possible in terms of profit loss.