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OPERATIONS RESEARCH Vol. 57, No. 6, NovemberDecember 2009, pp. 15231531
 

Summary: OPERATIONS RESEARCH
Vol. 57, No. 6, November­December 2009, pp. 1523­1531
issn 0030-364X eissn 1526-5463 09 5706 1523
informs®
doi 10.1287/opre.1090.0701
© 2009 INFORMS
TECHNICAL NOTE
Personalized Dynamic Pricing of
Limited Inventories
Goker Aydin
Department of Industrial and Operations Engineering, University of Michigan,
Ann Arbor, Michigan 48109, ayding@umich.edu
Serhan Ziya
Department of Statistics and Operations Research, University of North Carolina,
Chapel Hill, North Carolina 27559, ziya@unc.edu
Prior work has investigated time- and inventory-level-dependent pricing of limited inventories with finite selling horizons.
We consider a third dimension--in addition to time and inventory level--that the firms can use in setting their prices: the
information that the firm has at the individual customer level. An arriving customer provides a signal to the firm, which
is an imperfect indicator of the customer's willingness to pay, and the firm makes a personalized price offer depending on
the signal, inventory level, and time. We consider two different models: full personalization and partial personalization.

  

Source: Aydin, Goker - Department of Operations and Decision Technologies, Indiana University Bloomington

 

Collections: Engineering