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Tag: Dynamic Pricing

When to Use Low Prices to Grab Market Share | Strategic Pricing Solutions

When to Use Low Prices to Grab Market Share | Strategic Pricing Solutions

I don’t use Uber often, but our family recently used it to take us to the airport. When we returned, we just walked outside the airport and hopped in a taxi.  The price of the Uber ride ended up about 35% lower than the price of the taxi.  That is not news.  It has been […]

Dynamic Pricing and Surge Pricing are Good for All | Strategic Pricing Solutions

Dynamic Pricing and Surge Pricing are Good for All | Strategic Pricing Solutions

If you’ve ever tried to take an Uber during a rainstorm or on a holiday, you know why surge pricing can be unpopular. Then again, if you’ve been picked up by that Uber while other people were still waiting for cabs, you know why it also makes sense and provides benefit to customers. Surge pricing which is another name […]

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 […]

Blog: Can Jet.Com Make it Up on Volume? | Strategic Pricing Solutions

Blog: Can Jet.Com Make it Up on Volume? | Strategic Pricing Solutions

A little more than a month ago, Jet.com opened its digital doors for business.  Jet’s stated goal is to “make shopping more transparent, more efficient, and at the same time, a little more fun.”   The pitch to potential customers is they will save money buying things on Jet.com instead of Amazon, Costco, and other online […]

Blog: Situational Pricing – Lessons from the Super Bowl and Uber | Strategic Pricing Solutions

Blog: Situational Pricing – Lessons from the Super Bowl and Uber | Strategic Pricing Solutions

Uber’s surge pricing received more attention last week with the large snow storm in the Northeast, when Uber agreed they would not “gouge” consumers.  Prices would be higher than normal, but would not be excessive.  Conversely, tickets to the Super Bowl on the secondary market were higher than ever.  This past weekend, tickets in the […]

Paper: A dynamic pricing strategy for high occupancy toll lanes | Transportation Research

Paper: A dynamic pricing strategy for high occupancy toll lanes | Transportation Research

Highlights We propose a toll pricing strategy which can dynamically adjust toll price. The toll is adjusted based on value of travel time and travel conditions. The objective can be modified to achieve various levels of delay and revenue. Case study demonstrates effectiveness and feasibility of the proposed strategy. Abstract High Occupancy Toll (HOT) lanes […]

Paper: Dynamic Pricing with an Unknown Demand Model – Asymptotically Optimal Semi-Myopic Policies | INFORMS

Paper: Dynamic Pricing with an Unknown Demand Model – Asymptotically Optimal Semi-Myopic Policies | INFORMS

Abstract We consider a monopolist who sells a set of products over a time horizon of T periods. The seller initially does not know the parameters of the products’ linear demand curve, but can estimate them based on demand observations. We first assume that the seller knows nothing about the parameters of the demand curve, […]

Paper: Dynamic Pricing Strategies in the Presence of Demand Shifts | INFORMS

Paper: Dynamic Pricing Strategies in the Presence of Demand Shifts | INFORMS

Abstract Many factors introduce the prospect of changes in the demand environment that a firm faces, with the specifics of such changes not necessarily known in advance. If and when realized, such changes affect the delicate balance between demand and supply and thus current prices should account for these future possibilities. We study the dynamic […]

Book: Pricing Perspectives – Marketing & Management Implications of New Theories and Applications

Book: Pricing Perspectives – Marketing & Management Implications of New Theories and Applications

Summary: The world of pricing has been changing at a fast pace. There has been a development of new dynamic pricing strategies, and explosion of new pricing tools and techniques, and a focus on smarter buyers. The implementation of value-based pricing strategies that occurred in the last few years are indicitive of these changes. This […]

Book: The Oxford Handbook of Pricing Management

Book: The Oxford Handbook of Pricing Management

Summary: The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these […]