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A constraint logic programming algorithm for modeling dynamic pricing
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Oliveira, Fernando. (2008) A constraint logic programming algorithm for modeling dynamic pricing. INFORMS Journal on Computing, Vol.20 (No.1). pp. 69-77. ISSN 1091-9856
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Official URL: http://dx.doi.org/10.1287/ijoc.1060.0218
Abstract
We extend Lemke's algorithm to solve a dynamic pricing problem. We identify an instance in which Lemke's algorithm fails to converge to an optimal solution (when an optimum does exist) and propose a constraint logic programming solution to this problem. We analyze the complexity of the extended Lemke's algorithm. Our analysis shows that, in the short term, dynamic pricing can be used to improve resource management efficiency. It is also shown that dynamic pricing can be used to manage the long-term behavior of demand.
| Item Type: | Journal Article |
|---|---|
| Subjects: | Q Science > QA Mathematics > QA76 Electronic computers. Computer science. Computer software H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | Faculty of Social Sciences > Warwick Business School |
| Journal or Publication Title: | INFORMS Journal on Computing |
| Publisher: | Institute for Operations Research and the Management Sciences (I N F O R M S) |
| ISSN: | 1091-9856 |
| Date: | 2008 |
| Volume: | Vol.20 |
| Number: | No.1 |
| Number of Pages: | 9 |
| Page Range: | pp. 69-77 |
| Identification Number: | 10.1287/ijoc.1060.0218 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| URI: | http://wrap.warwick.ac.uk/id/eprint/30378 |
Data sourced from Thomson Reuters' Web of Knowledge
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