TY - GEN
T1 - E-commerce for revenue management based on incentive compatible online auctions
AU - Yang, Qing Qing
AU - Li, Jin Lin
AU - Ran, Lun
PY - 2007
Y1 - 2007
N2 - We formally embed a new-style of E-commerce into a dynamic framework that is typical of the revenue management problem. Full characterize classical results of incentive compatible online auctions. The main focus of this paper is joint inventory control and pricing problem of revenue management in which buyers act strategically and bid for units of a Arm's fixed product online. Faced by a sequence of buyers separated intor time periods, and each group of buyers has independent, private values, a sequence of standard multi-unit multi-period and multi-demand dynamic model for finite time is proposed. In order to achieve the maximum expect revenue in reasonable range, the optimal allocation q*j(v)based on dynamic program is analyzed, and considering of running an appropriately mechanism based on incentive compatible online auctions with a dynamic thresholds price in each period. Using this dynamic auction model to realize pricing and inventory control in single-leg, multi-period revenue management problem.
AB - We formally embed a new-style of E-commerce into a dynamic framework that is typical of the revenue management problem. Full characterize classical results of incentive compatible online auctions. The main focus of this paper is joint inventory control and pricing problem of revenue management in which buyers act strategically and bid for units of a Arm's fixed product online. Faced by a sequence of buyers separated intor time periods, and each group of buyers has independent, private values, a sequence of standard multi-unit multi-period and multi-demand dynamic model for finite time is proposed. In order to achieve the maximum expect revenue in reasonable range, the optimal allocation q*j(v)based on dynamic program is analyzed, and considering of running an appropriately mechanism based on incentive compatible online auctions with a dynamic thresholds price in each period. Using this dynamic auction model to realize pricing and inventory control in single-leg, multi-period revenue management problem.
KW - Auction
KW - E-commerce
KW - Incentive compatible
KW - Revenue management
UR - https://www.scopus.com/pages/publications/38049040923
U2 - 10.1109/WICOM.2007.856
DO - 10.1109/WICOM.2007.856
M3 - Conference contribution
AN - SCOPUS:38049040923
SN - 1424413125
SN - 9781424413126
SN - 1424413125
SN - 9781424413126
T3 - 2007 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2007
SP - 3457
EP - 3460
BT - 2007 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2007
T2 - 2007 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2007
Y2 - 21 September 2007 through 25 September 2007
ER -