دانلود رایگان مقاله مدیریت درآمد با مینیماکس میزان تاسف در مذاکرات

abstract

We study the dynamic bilateral price negotiations from the perspective of a monopolist seller. We first study the classical static problem with an added uncertainty feature. Next, we review the dynamic negotiation problem, and propose a simple deterministic “fluid” analog. The main emphasis of the paper is in analyzing the relationship of the dynamic negotiation problem and the classical revenue management problems; and expanding the formulation to the case where both the buyer and seller have limited prior information on their counterparty valuation. Our first result shows that if both the seller and buyer are bidding so as to minimize their maximum regret, then it is optimal for them to bid as if the unknown valuation distributions were uniform. Building on this result and the fluid formulation of the dynamic negotiation problem, we characterize the seller’s minimum acceptable price at any given point in time.

5. Conclusion

In this paper, we study a monopolist seller’s revenue management problem with the twist that transactions between the seller and each arriving buyer are bilaterally negotiated, a situation that has not been fully considered in the extant literature. We start with the one-to-one negotiation problems and discuss how to account for uncertainty in valuation distributions. Next, we extend our analysis to the dynamic environment: we establish the connection of the bilateral negotiation problems with the classical revenue management problems; and by studying the deterministic fluid problem, we observe the stationary nature of the optimal pricing policy. We are then able to extend the analysis to uncertain environments. Finally, two sets of numerical analyzes complement the theoretical study in other interesting perspectives, answering the questions “how the impact of parameter k in a dynamic setting might be different than in a static setting” and “how the uniform distribution assumption might affect the performance of the seller”.