Knowledge assisted dynamic pricing for large-scale retailers

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dc.contributor.authorSung, NHko
dc.contributor.authorLee, Jae Kyuko
dc.date.accessioned2008-05-02T06:51:41Z-
dc.date.available2008-05-02T06:51:41Z-
dc.date.created2012-02-06-
dc.date.created2012-02-06-
dc.date.issued2000-06-
dc.identifier.citationDECISION SUPPORT SYSTEMS, v.28, no.4, pp.347 - 363-
dc.identifier.issn0167-9236-
dc.identifier.urihttp://hdl.handle.net/10203/4345-
dc.description.abstractIt is very difficult for large-scale retailers to price thousands of items dynamically reflecting all constraints and policies. To solve this problem, we adopt a combined model approach that contingently selects appropriate pricing models and integrates them. The three proposed models are cost-plus, competitor-referenced, and demand-driven models. Since each model can be converted to a set of interval and point constraints, we have developed price point determination rules, which find a price point from the weighted interval and point constraints. A prototype system, Knowledge-Assisted Pricing Assistant (KAPA) is developed with this idea. According to our experiment involving 76 cases with 54 pricing experts, KAPA performed consistently, with human experts, about 89.5% accurate. This approach can be a very effective pricing scheme in the electronic marketing era. (C) 2000 Elsevier Science B.V. All rights reserved.-
dc.languageEnglish-
dc.language.isoen_USen
dc.publisherELSEVIER SCIENCE BV-
dc.subjectSYSTEM-
dc.titleKnowledge assisted dynamic pricing for large-scale retailers-
dc.typeArticle-
dc.identifier.wosid000087303500006-
dc.identifier.scopusid2-s2.0-0033751023-
dc.type.rimsART-
dc.citation.volume28-
dc.citation.issue4-
dc.citation.beginningpage347-
dc.citation.endingpage363-
dc.citation.publicationnameDECISION SUPPORT SYSTEMS-
dc.embargo.liftdate9999-12-31-
dc.embargo.terms9999-12-31-
dc.contributor.localauthorLee, Jae Kyu-
dc.contributor.nonIdAuthorSung, NH-
dc.type.journalArticleArticle; Proceedings Paper-
dc.subject.keywordAuthorretail pricing models-
dc.subject.keywordAuthorexpert systems-
dc.subject.keywordAuthorprice point determination rules-
dc.subject.keywordPlusSYSTEM-
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