Papers

Paper: Robust Dynamic Pricing with Two Substitutable Products | Manufacturing & Service Operations Management

Paper: Robust Dynamic Pricing with Two Substitutable Products | Manufacturing & Service Operations Management

We consider a practical dynamic pricing problem with two substitutable products involving a number of business rules commonly seen in practice. Demand substitution exists between the two products (interproduct substitution) and may also exist across different time periods (intertemporal substitution). However, there is limited demand information such that the underlying probability distributions of the demand […]

The prospective impact of food pricing on improving dietary consumption: A systematic review and meta-analysis | PLOS

The prospective impact of food pricing on improving dietary consumption: A systematic review and meta-analysis | PLOS

Background While food pricing is a promising strategy to improve diet, the prospective impact of food pricing on diet has not been systematically quantified. Objective To quantify the prospective effect of changes in food prices on dietary consumption. Design We systematically searched online databases for interventional or prospective observational studies of price change and diet; […]

How retailers can improve price perception–profitably | McKinsey & Company

How retailers can improve price perception–profitably | McKinsey & Company

New methodologies, powered by big data and advanced analytics, can help retailers attract value-conscious consumers without sacrificing margins. As retail executives know all too well, most pricing decisions require a trade-off between margin and price perception. To avoid a “race to the bottom”—the self-defeating exercise of trying to beat every competitor’s price on every item—retailers […]

Paper: 3 Steps to develop a surefire pricing strategy and get paid what your worth | Alison Edgar

Paper: 3 Steps to develop a surefire pricing strategy and get paid what your worth | Alison Edgar

Are you struggling with your pricing strategy? Many startups fall into the trap of under-valuing what they do. They think they have to keep their prices low until they can prove they’re worth more. Few even have a pricing strategy. What is your product worth? How much should you charge for your services? How do […]

Paper: Association of Reference Pricing for Diagnostic Laboratory Testing With Changes in Patient Choices, Prices, and Total Spending for Diagnostic Tests | JAMA Internal Medicine

Paper: Association of Reference Pricing for Diagnostic Laboratory Testing With Changes in Patient Choices, Prices, and Total Spending for Diagnostic Tests | JAMA Internal Medicine

Importance  Prices for laboratory and other clinical services vary widely. Employers and insurers increasingly are adopting “reference pricing” policies to create incentives for patients to select lower-priced facilities. Objective  To measure the association between implementation of reference pricing and patient choice of laboratory, test prices, patient out-of-pocket spending, and insurer spending. Design, Setting, and Participants  […]

Paper: Association of Reference Pricing for Diagnostic Laboratory Testing With Changes in Patient Choices, Prices, and Total Spending for Diagnostic Tests | JAMA Internal Medicine

Paper: Association of Reference Pricing for Diagnostic Laboratory Testing With Changes in Patient Choices, Prices, and Total Spending for Diagnostic Tests | JAMA Internal Medicine

Importance  Prices for laboratory and other clinical services vary widely. Employers and insurers increasingly are adopting “reference pricing” policies to create incentives for patients to select lower-priced facilities. Objective  To measure the association between implementation of reference pricing and patient choice of laboratory, test prices, patient out-of-pocket spending, and insurer spending. Design, Setting, and Participants  […]

Paper: Toward Value-Based Pricing to Boost Cancer Research and Innovation | Cancer Research

Paper: Toward Value-Based Pricing to Boost Cancer Research and Innovation | Cancer Research

Abstract The high market price of new anticancer agents has stimulated debate about the long-term sustainability of healthcare systems and whether these new agents can continue to be supported by public healthcare or by private insurers. In addition, some drugs have been approved with limited clinical benefit, raising concerns about setting a minimum requirement for […]

Paper: Pricing – Time for Science to Replace Gut Instinct | RIS News

Paper: Pricing – Time for Science to Replace Gut Instinct | RIS News

When deployed correctly, pricing optimization solutions are powerful tools that deliver a clear business edge to retailers. Not only are they capable of setting prices for promotional products that consistently hit sell-through goals, but they can also help the entire product catalog sell at full price. But the catch is these sophisticated solutions can only […]

Paper: Buffet guilt | EurekAlert! Science News

Paper: Buffet guilt | EurekAlert! Science News

Ever wonder how much the price you pay for an All-You-Can-Eat (AYCE) buffet influences how you feel at the end of the meal? To explore this idea and address the lack of studies that do, this study examines whether pricing affects key indicators such as overeating, physical discomfort, and guilt. Researchers discovered that lower paying […]

Paper: Invest in Information or Wing It? A Model of Dynamic Pricing with Seller Learning | HBS Working Knowledge

Paper: Invest in Information or Wing It? A Model of Dynamic Pricing with Seller Learning | HBS Working Knowledge

EXECUTIVE SUMMARY — Dealers who need to price idiosyncratic products–like houses, artwork, and used cars–often struggle with a lack of information about the demand for their specific items. Analyzing sales data from the used-car retail market, the authors of this paper develop a model of dynamic pricing for idiosyncratic products, showing that seller learning has […]