Sequential Learning Of Profit Maximizing Sales Prices

Maurits Kaptein*, Petri Parvinen

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

Abstract

Sellers are interested in selling their products for the profit maximizing price. Often, this price is set based on an examination of the cost function of the product (Nagle, 2011), or it is based on market research querying customers price sensitivities for the offered product (E.g., Rao, 1984). Researchers trying to estimate profit maximizing sales prices have also focussed on setting prices in competitive markets using a game theoretic approach (See, e.g., Jiang et al., 2011).
Original languageEnglish
Title of host publicationMarketing Dynamism & Sustainability: Things Change, Things Stay the Same...
Subtitle of host publicationProceedings of the 2012 Academy of Marketing Science (AMS) Annual Conference
EditorsL Robinson
Pages398-401
Number of pages4
DOIs
Publication statusPublished - 2015
MoE publication typeA4 Article in a conference publication
EventAcademy of Marketing Science Annual Conference - New Orleans, United States
Duration: 15 May 201220 May 2012

Publication series

NameDevelopments in Marketing Science
PublisherACAD MARKETING SCIENCE
ISSN (Print)2363-6173

Conference

ConferenceAcademy of Marketing Science Annual Conference
Abbreviated titleAMS
CountryUnited States
CityNew Orleans
Period15/05/201220/05/2012

Keywords

  • BANDIT

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