International Journal of Computational Intelligence Systems

Volume 5, Issue 6, November 2012, Pages 1109 - 1119

A Dynamic Pricing Model for a Maritime Transportation Service Provider

Authors
Seda Coşgun, Özlem Coşgun, Yeliz Ekinci
Corresponding Author
Seda Coşgun
Received 12 November 2011, Accepted 27 July 2012, Available Online 1 November 2012.
DOI
https://doi.org/10.1080/18756891.2012.747664How to use a DOI?
Keywords
Dynamic pricing, conjoint analysis, multinomial logit model, maritime transportation
Abstract

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.

Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

Journal
International Journal of Computational Intelligence Systems
Volume-Issue
5 - 6
Pages
1109 - 1119
Publication Date
2012/11/01
ISSN (Online)
1875-6883
ISSN (Print)
1875-6891
DOI
https://doi.org/10.1080/18756891.2012.747664How to use a DOI?
Copyright
© 2017, the Authors. Published by Atlantis Press.
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  -