Optimal Dynamic Pricing for Perishable Assets with Nonhomogeneous Demand

By Wenjiao Zhao, Yu-Sheng Zheng. 2000

472 citations recorded by the source corpus.

Subfields: Management Information Systems, Marketing, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/eb121196fd08737ebb24f48470f08bc080edea61

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In Management Information Systems

In Marketing

In Strategy and Management

Citations in the corpus

Dynamic pricing strategies: Evidence from European hotels (2012, background): “Zhao and Zheng (2000) describe the relation between price and time as a non-homogeneous Poisson process.”
Dynamic pricing in the presence of inventory considerations: research overview, current practices, and future directions (2003, background): “In contrast, Bitran et al. [7], Bitran and Mondschein [8], and Zhao and Zheng [84] generalize these models by modeling the demand as a nonhomogenous Poisson process with rate λ t and allowing the probability distribution of the reservation price (F t (x)) to change over time.”
Intertemporal Pricing with Strategic Customer Behavior (2007, background): “Bitran and Mondschein (1997) and Zhao and Zheng (2000) provide an explanation based on time-inhomogeneous demand patterns.”
Demand Functions in Decision Modeling: A Comprehensive Survey and Research Directions (2013, background): “Assuming that customers whose reservation prices are higher than or equal to p will buy, Zhao and Zheng (2000) characterized the demand as a nonhomogeneous Poisson process with the arrival rate λ(p, t) = λ(t)(1− F (p, t)).”
Pricing strategies of low-cost airlines: The Ryanair case study (2009, background): “The results show that the fare policy is clearly innovative relative to traditional pricing strategies, and that the fares are influenced by the competitive economic context in which the route is offered.”
Dynamic Pricing and Learning: Historical Origins, Current Research, and New Directions (2013, unknown): “Feng and Gallego (2000) and Zhao and Zheng (2000) characterize the optimal pricing policy in case of time dependent demand intensities; in these models, the price dynamics are caused both by inventory effects and by dynamic demand behavior.”
Optimal Dynamic Pricing of Perishable Items by a Monopolist Facing Strategic Consumers (2010, background): “Dynamic pricing models for an infinite population of myopic customers include those of Feng and Xiao (2000), Gallego and van Ryzin (1994), and Zhao and Zheng (2000).”
Dynamic Pricing Strategies for Multiproduct Revenue Management Problems (2006, background): “For ease of exposition, the demand function · is assumed to be stationary; an extension to allow for nonstationarities could follow Gallego and van Ryzin (1994, 1997) and Zhao and Zheng (2000). This class of demand functions incorporates product complementarity and substitution effects.”