Type & year
Business Papers · 2024
Business Papers · 2024 · Platforms & Retail · Methods & Practice
Selling quality-differentiated products in a Markovian market with unknown transition probabilities
Bora Keskin, Meng Li
Operations Research 72(3), 885–902
Summary
This study analyzes dynamic pricing for vertically differentiated products when customer preferences evolve according to an unknown Markov process. It shows the value of learning in changing markets and develops a bounded policy with near-optimal performance.
Record
Research theme
Platforms & Retail · Methods & Practice
Publication
Operations Research 72(3), 885–902
Suggested citation
Bora Keskin, Meng Li (2024). Selling quality-differentiated products in a Markovian market with unknown transition probabilities. Operations Research 72(3), 885–902.