A Dynamic Pricing Model for a Maritime Transportation Service Provider


Ugurlu S. , Cosgun O., Ekinci Y.

INTERNATIONAL JOURNAL OF COMPUTATIONAL INTELLIGENCE SYSTEMS, cilt.5, ss.1109-1119, 2012 (SCI İndekslerine Giren Dergi) identifier identifier

  • Cilt numarası: 5 Konu: 6
  • Basım Tarihi: 2012
  • Doi Numarası: 10.1080/18756891.2012.747664
  • Dergi Adı: INTERNATIONAL JOURNAL OF COMPUTATIONAL INTELLIGENCE SYSTEMS
  • Sayfa Sayıları: ss.1109-1119

Özet

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.