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Dynamic Allocation and Pricing: A Mechanism Design Approach by Alex Gershkov, Benny Moldovanu (Hardcover, 2014)

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A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods. Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings. Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents.

Product Identifiers

Publisher
MIT Press Ltd
ISBN-13
9780262028400
eBay Product ID (ePID)
208913842

Product Key Features

Author
Alex Gershkov, Benny Moldovanu
Publication Name
Dynamic Allocation and Pricing: a Mechanism Design Approach
Format
Hardcover
Language
English
Subject
Economics, Finance
Publication Year
2014
Type
Textbook
Number of Pages
208 Pages

Dimensions

Item Height
229mm
Item Width
152mm

Additional Product Features

Title_Author
Alex Gershkov, Benny Moldovanu
Series Title
Arne Ryde Memorial Lectures
Country/Region of Manufacture
United States

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Dynamic Allocation and Pricing: A Mechanism Design Approach by Alex Gershkov, Benny Moldovanu (Hardcover, 2014)

About this product

Product Information

Product Identifiers

Product Key Features

Dimensions

Additional Product Features

Best Selling in Adult Learning & University

Polyvagal Exercises for Safety and Connection: 50 Client-Centered Practices by Deb Dana (Paperback, 2020)

Save on Adult Learning & University

Ford Falcon EF, EL/Fairlane NF, NL/LTD DF, DL 1994-1998 Haynes Workshop Manual

Netter Atlas of Human Anatomy: Classic Regional Approach

Michael Price Nick Vandome Windows 11 for Seniors in easy steps (Paperback)

BORN IN 1971?... 1951?BIRTHDAY...Australian Social History....Chrisi, Birthdays

It's Not You: How to Identify and Heal from NARCISSISTIC People by Ramani Durvas

Dr. Robert Melillo Disconnected Kids - Revised and Updated (Paperback)

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