An algorithm for on-line price discrimination

The combination of on-line dynamic pricing with price discrimination can be very beneficial for firms operating on the Internet. We therefore develop an on-line dynamic pricing algorithm that can adjust the price schedule for a good or service on behalf of a firm. This algorithm (a multi-variable derivative follower with adaptive step-sizes) is able to respond very quickly to changes in customers' demand. An additional advantage of the developed algorithm is that it does not require information about individual customers. Given the growing concern about customers' privacy this can be of great practical importance. Computational experiments (with different customer behavior models) indicate that our algorithm is able to successfully exploit the potential benefits of on-line price discrimination

Learning Competitive Pricing Strategies by Multi-Agent Reinforcement Learning

Original article can be found at: http://www.sciencedirect.com/science/journal/01651889 Copyright Elsevier B.V. DOI: 10.1016/S0165-1889(02)00122-7 [Full text of this article is not available in the UHRA]Peer reviewe

An algorithm for on-line price discrimination

The combination of on-line dynamic pricing with price discrimination can be very beneficial for firms operating on the Internet. We therefore develop an on-line dynamic pricing algorithm that can adjust the price schedule for a good or service on behalf of a firm. This algorithm (a multi-variable derivative follower with adaptive step-sizes) is able to respond very quickly to changes in customers' demand. An additional advantage of the developed algorithm is that it does not require information about individual customers. Given the growing concern about customers' privacy this can be of great practical importance. Computational experiments (with different customer behavior models) indicate that our algorithm is able to successfully exploit the potential benefits of on-line price discrimination

Integrating Real and Financial Markets in an Agent-Based Economic Model: An Application to Monetary Policy Design

Agent-based computational economics, Monetary policy design, Financial markets and the macroeconomy, C63, E44, E52,

Particle Swarm Optimization Algorithm for Agent-Based Artificial Markets

Agent-based market, Genetic algorithm, Particle swarm optimization, Simulation,

Oligopoly firms with quantity-price strategic decisions

Agent-based artificial market, Oligopoly, Particle swarm optimization, C72, L13, Q13,