Title:
Optimal Customized Pricing in Competitive Settings

dc.contributor.author Ferguson, Mark E.
dc.contributor.author Agrawal, Vishal
dc.date.accessioned 2006-10-14T21:47:18Z
dc.date.available 2006-10-14T21:47:18Z
dc.date.issued 2006-10-14
dc.description.abstract In this paper, we study pricing situations where a firm provides a price quote in the presence of uncertainty in the competitive landscape and the preferences of the buyer. We review two possible customized-pricing bid-response models used in practice which can be developed from the historical information available to the firm based on previous bidding opportunities. We show how these models may be used to exploit the differences in the market segments to generate optimal price quotes given the characteristics of the current bid opportunity. We also show how the models may be adjusted depending on the amount of historical bid information available to the user. Finally, we test the two methods on two industry datasets to compare their performance and estimate the percent improvement in expected profits that may be possible from their use. en
dc.format.extent 295463 bytes
dc.format.mimetype application/pdf
dc.identifier.uri http://hdl.handle.net/1853/12180
dc.language.iso en_US en
dc.subject bid-response functions en
dc.subject bid-pricing en
dc.subject price optimization en
dc.subject customized pricing en
dc.title Optimal Customized Pricing in Competitive Settings en
dc.type Text
dc.type.genre Working Paper
dspace.entity.type Publication
local.contributor.corporatename Scheller College of Business
relation.isOrgUnitOfPublication a2f83831-ae41-4d65-82ff-c8bf95db4ffb
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Agrawal-Ferguson Bid Price Response Models.pdf
Size:
288.54 KB
Format:
Adobe Portable Document Format
Description:
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.86 KB
Format:
Item-specific license agreed upon to submission
Description: