Dynamic Online Pricing with Incomplete Information Using Multiarmed Bandit Experiments

Kanishka Misra; Eric M. Schwartz; Jacob Abernethy

doi:10.1287/mksc.2018.1129

Dynamic Online Pricing with Incomplete Information Using Multiarmed Bandit Experiments

Kanishka Misra¹; Eric M. Schwartz²; Jacob Abernethy³

¹ Rady School of Management, University of California, San Diego, La Jolla, California 92093 · ² Ross School of Business, University of Michigan , Ann Arbor, Michigan 48109, · ³ School of Computer Science, College of Computing, Georgia Institute of Technologyy, Atlanta, Georgia 30332

Marketing Science 2019

We propose an alternative dynamic price experimentation policy that extends multiarmed bandit (MAB) algorithms from statistical machine learning to include microeconomic choice theory.

DOI: 10.1287/mksc.2018.1129
Volume: 38 (2)
Pages: 226-252
Language: en
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