Work

A Dynamic Pricing Model for a Maritime Transportation Service Provider

Year: 2012

Type: article

Abstract: In this study, the dynamic pricing optimization problem faced by the maritime transportation service provider company is considered. The aim is to find optimal prices for each journey for each level of unsold seats by using probabilistic dynamic programming. Conjoint analysis is used to identify the consumer behavior in case of price changes to the current product, namely journey. The optimal policies show the necessity of applying dynamic pricing policy instead of fixed pricing and the diversification of optimal policies under different conditions.

Source: International Journal of Computational Intelligence Systems

DOI: 10.1080/18756891.2012.747664

Authors: Seda Coşgun, Özlem Coşgun, Yeliz Ekinci

Institutions: Istanbul Technical University, Fatih University, Doğuş University

Language: English

Topic: Supply Chain and Inventory Management

Subfield: Management Science and Operations Research

Field: Decision Sciences

Domain: Social Sciences

Open Access status: gold

Estimated APC paid: $2,490

OpenAlex ID: W1978007259