Dynamic Allocation and Pricing : A Mechanism Design Approach
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| Title: | Dynamic Allocation and Pricing : A Mechanism Design Approach |
|---|---|
| Description: | A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods.Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings.Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents. |
| Authors: | Alex Gershkov, Benny Moldovanu |
| Resource Type: | eBook. |
| Subjects: | Pricing, Revenue management, Assignment problems (Programming) |
| Categories: | BUSINESS & ECONOMICS / Economics / General |
| Database: | eBook Collection (EBSCOhost) |
| FullText | Links: – Type: ebook-pdf Text: Availability: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Dynamic Allocation and Pricing : A Mechanism Design Approach – Name: Abstract Label: Description Group: Ab Data: A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods.Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings.Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Alex+Gershkov%22">Alex Gershkov</searchLink><br /><searchLink fieldCode="AR" term="%22Benny+Moldovanu%22">Benny Moldovanu</searchLink> – Name: TypePub Label: Resource Type Group: TypPub Data: eBook. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Pricing%22">Pricing</searchLink><br /><searchLink fieldCode="DE" term="%22Revenue+management%22">Revenue management</searchLink><br /><searchLink fieldCode="DE" term="%22Assignment+problems+%28Programming%29%22">Assignment problems (Programming)</searchLink> – Name: SubjectBISAC Label: Categories Group: Su Data: <searchLink fieldCode="ZK" term="%22BUSINESS+%26+ECONOMICS+%2F+Economics+%2F+General%22">BUSINESS & ECONOMICS / Economics / General</searchLink> |
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| RecordInfo | BibRecord: BibEntity: Classifications: – Code: 658.1554 Scheme: ddc Type: prePub Languages: – Code: eng Text: English Subjects: – SubjectFull: Pricing Type: general – SubjectFull: Revenue management Type: general – SubjectFull: Assignment problems (Programming) Type: general Titles: – TitleFull: Dynamic Allocation and Pricing : A Mechanism Design Approach Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Alex Gershkov – PersonEntity: Name: NameFull: Benny Moldovanu – PersonEntity: Name: NameFull: Alex Gershkov – PersonEntity: Name: NameFull: Benny Moldovanu IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 01 Type: published Y: 2014 – D: 08 M: 01 Type: profile Y: 2015 Identifiers: – Type: isbn-print Value: 9780262028400 – Type: isbn-electronic Value: 9780262327732 Numbering: – Type: volume Value: 00009 Titles: – TitleFull: Dynamic Allocation and Pricing : A Mechanism Design Approach Type: main |
| ResultId | 1 |
