The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Dynamic Pricing in the Presence of Inventory Considerations: Research Overview, Current Practices, and Future Directions
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 in dynamic pricing. Given its applicability in most markets and its increasing adoption in practice, our focus is on dynamic (intertemporal) pricing in the presence of inventory considerations.
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Citations
Cites
The basics of yield management
Kimes, S. E. (1989) · Cornell Hotel and Restaurant Administration Quarterly · doi:10.1177/001088048903000309 · Cited by 310
Cited by
Dynamic Pricing and Consumer Fairness Perceptions
Haws, K. L., & Bearden, W. O. (2006) · Journal of Consumer Research · doi:10.1086/508435 · Cited by 520
An overview of research on revenue management: Current issues and future research
Chiang, W. C., Chen, J. C. H., & Xu, X. (2007) · International Journal of Revenue Management · doi:10.1504/ijrm.2007.011196 · Cited by 447
A dynamic product quality evaluation based pricing model for perishable food supply chains
Wang, X., & Li, D. (2012) · Omega · doi:10.1016/j.omega.2012.02.001 · Cited by 329
Dynamic Pricing and Inventory Control of Substitute Products
Dong, L., Kouvelis, P., & Tian, Z. (2009) · Manufacturing & Service Operations Management · doi:10.1287/msom.1080.0221 · Cited by 311
Dynamic Pricing for Nonperishable Products with Demand Learning
Araman, V. F., & Caldentey, R. (2009) · Operations Research · doi:10.1287/opre.1090.0725 · Cited by 282
Metadata
- Authors
- Elmaghraby, W., & Keskinocak, P.
- Venue
- Management Science
- Published
- 2003-10
- Volume
- 49
- Issue
- 10
- Pages
- 1287-1309
- ISSN
- 0025-1909 (ISSN-L)
- 1526-5501
- OpenAlex
- W2122108146
- Cited by
- 1,285
- References
- 1
- FWCI
- 51.38
- Type
- journal article
- Language
- en
- Open access
- closed
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- Elmaghraby, W., & Keskinocak, P. (2003). Dynamic Pricing in the Presence of Inventory Considerations: Research Overview, Current Practices, and Future Directions. Management Science. https://doi.org/10.1287/mnsc.49.10.1287.17315
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
