Dynamic Pricing and Auction - Department of Industrial Engineering ...

More documents

Recommendations

Info

E-Commerce as a driver ofdynamic pricing• Transaction cost for implementing the dynamicpricing i have been reduced d by◦ Eliminating the need for people to be physicallypresent in time and space◦ Reducing the search cost◦ Reducing the menu cost of informing the changedprice• Increased number of customers, competitors,and increased amount of information has leadto price uncertainty and demand volatility.• Companies are finding that using a single fixedprice in these volatile market is inefficient andineffective
Defining Dynamic Pricing• Dynamic pricing is defined as the buyingand selling of goods and services in freemarkets where the prices fluctuate inresponse to changing supply and demand.• Also called flexible pricing/ customizedpricing• Includes two aspects◦ Price dispersion◦ price differentiation
Page 4 and 5: Understanding the scope fordynamic
Page 6 and 7: Advantages of ffixed pricing• Con
Page 8 and 9: A six step procedure forsetting up
Page 10 and 11: Determining demand• Estimating de
Page 12 and 13: Analyzing competition• Competitor
Page 14 and 15: Was the traditional pricingreally f
Page 18 and 19: Price dispersion• Spatial◦ Seve
Page 20 and 21: Price DifferentiationBased on one p
Page 22 and 23: Dynamic pricing failure stories•
Page 24 and 25: Models for dynamic pricing• Inven
Page 26 and 27: Auction• An oldest form of market
Page 28 and 29: Classification based on the resourc
Page 30 and 31: Classification based on Bidding rul
Page 32 and 33: Classification based on Bid structu
Page 34 and 35: Classification based on Matchingsup
Page 36 and 37: Issues involved in onlineauction•
Page 38 and 39: Auction Design Problem• Design au
Page 40 and 41: Game theoretic/mechanismdesign appr
Page 42 and 43: Auction mechanism designgoals• Pa
Page 44 and 45: The concept of efficiency and profi
Page 46 and 47: Bidding Strategy in second priceauc
Page 48 and 49: Revenue in second priceauctionn bid
Page 50 and 51: Bidding Strategy in 1 stprice aucti
Page 52 and 53: Eq. 3Eq. 4
Page 54 and 55: tRevenue in 1 st price auction• T
Page 56 and 57: Strategic equivalence of the auctio
Page 58 and 59: More Bidders=higher Expected Payoff
Page 60 and 61: Why set a reserve price?• Conside
Page 62 and 63: Calculating the optimal reserve pri
Page 64 and 65: Interdependencies• Interdependent
Page 66 and 67:
Winner’s Curse• The winner curs
Page 68 and 69:
A simple winner determination probl
Page 70 and 71:
Multi unit auctions• Forward auct
Page 72 and 73:
Multiunit auction with indivisible
Page 74 and 75:
Multi -item forward auctionsSet of
Page 76 and 77:
Adding Business rules as side Const
Page 78 and 79:
Determining the equilibrium point i
Page 80 and 81:
Other Considerations During Doublea
Page 82 and 83:
Online design issues• Choice of a
Page 84 and 85:
Fraud in online auctions• Auction
Page 86 and 87:
Types of fCheatingCheating inAuctio
Page 88 and 89:
The Proxy Bidding and BidIncrement
Page 90 and 91:
Bidding Strategies• Single bid en
show all

Dynamic Pricing and Auction - Department of Industrial Engineering ...

Create successful ePaper yourself

Delete template?

Save as template?