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Dynamic pricing for information goods using revenue management and recommender systems
Journal of Revenue and Pricing Management Pub Date : 2021-03-06 , DOI: 10.1057/s41272-020-00276-w
Hekmat Adelnia Najafabadi , Ahmadreza Shekarchizadeh , Akbar Nabiollahi , Naser Khani , Hamid Rastgari

With the advent of the Internet and creation of information goods, the concept of price and pricing information goods has become one of the most interesting and innovative topics in information technology management and economics. In the cost structure of information goods, its reproduction cost is negligible compared to original version. Therefore, policies must be adopted to prorate the prime cost of the original version according to the demand for all reproduced copies. It means that based on the cost structure, market and the characteristics of information goods, the usual methods for pricing information products are not efficient and traditional pricing (cost plus profit), which is common way for most consumer and industrial goods, is not useful. In this paper, a model is proposed for dynamic pricing of information goods that adapts revenue management systems to create more profit for sellers and uses recommender systems to personalize prices which leads to customer welfare along with increasing profit. Economic analysis of the model by movie store datasets illustrates its desirable performance for increasing seller’s profit and customer’s welfare.



中文翻译:

使用收入管理和推荐系统对信息商品进行动态定价

随着Internet的出现和信息产品的创造,信息产品的价格和定价概念已成为信息技术管理和经济学中最有趣和创新的主题之一。在信息商品的成本结构中,与原始版本相比,其复制成本可忽略不计。因此,必须根据所有复制件的需求,采取政策按比例分配原始版本的主要费用。这意味着,基于成本结构,市场和信息商品的特征,通常的信息产品定价方法效率不高,而对于大多数消费品和工业品而言,传统的定价方式(成本加利润)则无济于事。 。在本文中,提出了一种用于信息产品动态定价的模型,该模型适用于收入管理系统以为卖方创造更多的利润,并使用推荐系统来个性化价格,从而导致客户福利以及利润的增加。电影商店数据集对该模型的经济分析表明,该模型在增加卖方利润和客户福利方面具有理想的表现。

更新日期:2021-03-14
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