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| Author: | Elmaghraby, W. Keskinocak, P. |
| Title: | Dynamic pricing in the presence of inventory considerations: research overview, current practices, and future directions |
| Journal: | Management Science
2003 : OCT, VOL. 49:1, p. 1287-1309 |
| Index terms: | Electronic commerce Inventory control Pricing |
| Language: | eng |
| Abstract: | The benefits of dynamic pricing methods have long been known in industries, such as airlines, hotels and electric utilities, where the capacity is fixed in the short-term and perishable. In recent years, there has been an increasing adoption of dynamic pricing policies in retail and other industries, where the sellers have the ability to store inventory. Three factors contributed to this phenomenon: 1) the increased availability of demand data, 2) the ease of changing prices due to new technologies and 3) the availability of decision-support tools for analyzing demand data and for dynamic pricing. This paper constitutes a review of the literature and current practices of pricing. |
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