Title of Talk: A Sequential Dynamic Pricing Model and Its Applications
Time: Casual conversations will begin at 12:15 PM with lunch box supplied.
The talk will be from12:45 to 1:45 PM, March 8 (Monday).
Location: Room 302 (管院一館)
Speaker: Dr. Kyle Lin, Assistant Professor, Virginia Tech
Abstract:
Dynamic pricing is a business strategy that adjusts the product price in real
time in order to maximize profit. Dynamic pricing problems are in general
difficult because in different industries the customer arrival processes and
the customer willingness to pay vary significantly. In this talk, I will
first describe and solve a sequential dynamic pricing model. I will then
explain a unified approach--which uses the results from this sequential
model--to approximate the optimal policy for any
continuous-time dynamic pricing problems. In particular, this approach
motivates a real-time learning mechanism that allows the seller to better set
the product price for future customers based on realized demand.
" A Brief Biography of the Speaker: Dr. Kyle Lin is a promising young
scholar who holds a BS in Electrical Eng. from National Taiwan University
(1994) and a PhD in Industrial Engineering and Operations Research from UC
Berkeley (2000). He joined Virginia Tech in Jan, 2001 after being a research
scientist in KLA-Tencor for six months. The expertise of Dr. Lin is on
applied probabilities and stochastic modeling with applications to several
fields, including telecommunication systems, revenue
management, game modeling, financial engineering and e-commerce.
His articles appear in Operations Research, Journal of Applied Probability,
Probability in Engineering and Informational Sciences, Naval Research
Logistics, Annals of Operations Research, etc. He recently received a
National Science Foundation (of USA) grant that supports his research on
dynamic pricing in a competitive market.
--
※ 發信站: 批踢踢實業坊(ptt.cc)
◆ From: 210.85.99.67