A predictive empirical model for pricing and resource allocation decisions

Authors:
Wolfgang Ketter;John Collins;Maria Gini;Paul Schrater;Alok Gupta
Affiliations:
RSM Erasmus University, Rotterdam, Netherlands;University of Minnesota, Minneapolis, MN;University of Minnesota, Minneapolis, MN;University of Minnesota, Minneapolis, MN;University of Minnesota, Minneapolis, MN
Venue:
Proceedings of the ninth international conference on Electronic commerce
Year:
2007

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Abstract

We present a semi-parametric model that describes pricing behaviors in a market environment, and we show how that model can be used to guide resource allocation and pricing decisions in an autonomous trading agent. We validate our model by presenting experimental results obtained in the Trading Agent Competition for Supply Chain Management.