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<p>In this paper we present an approximation for the finite horizon, finite inventory multi-product dynamic pricing problem. We consider both price- and stock-out- based substitutions. The computation time of the optimal solution grows exponentially in the number of products, while computation time of the proposed approximation is linear in the number of products. We compare the approximation with existing methods.</p>

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Multi-product Newsvendor problem with dynamic pricing: a decision interpolation approximation

  • 期刊论文

  • 出版模式：

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  • 发表日期：

    2025年2月4日

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  • Laura Sprenkels,
  • Zümbül Atan,
  • Ivo Adan

摘要

In this paper we present an approximation for the finite horizon, finite inventory multi-product dynamic pricing problem. We consider both price- and stock-out- based substitutions. The computation time of the optimal solution grows exponentially in the number of products, while computation time of the proposed approximation is linear in the number of products. We compare the approximation with existing methods.