A Dynamic Pricing Model for a Maritime Transportation Service Provider
- https://doi.org/10.1080/18756891.2012.747664How to use a DOI?
- Dynamic pricing, conjoint analysis, multinomial logit model, maritime transportation
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.
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- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - JOUR AU - Seda Coşgun AU - Özlem Coşgun AU - Yeliz Ekinci PY - 2012 DA - 2012/11/01 TI - A Dynamic Pricing Model for a Maritime Transportation Service Provider JO - International Journal of Computational Intelligence Systems SP - 1109 EP - 1119 VL - 5 IS - 6 SN - 1875-6883 UR - https://doi.org/10.1080/18756891.2012.747664 DO - https://doi.org/10.1080/18756891.2012.747664 ID - Coşgun2012 ER -