Tracking the market: Dynamic pricing and learning in a changing environment

  title={Tracking the market: Dynamic pricing and learning in a changing environment},
  author={Arnoud V. den Boer},
  journal={European Journal of Operational Research},
Dynamic pricing of commodities without knowing the exact relation between price and demand is a much-studied problem. Most existing studies assume that the parameters describing the market are constant during the selling period. This severely reduces their practical applicability, since, in reality, market characteristics may change all the time, without the firm always being aware of it. In the present paper we study dynamic pricing and learning in a changing market environment. We introduce a… CONTINUE READING
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