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Price optimization utilizes data analysis to predict the behavior of potential buyers to different prices of a product or service. Depending on the type of methodology being implemented, the analysis may leverage survey data (e.g. such as in a conjoint pricing analysis [7]) or raw data (e.g. such as in a behavioral analysis leveraging 'big data' [8] [9]).
Frederic Sterling Lee (November 24, 1949 – October 23, 2014) was an American heterodox economist.His primary theoretical contribution to heterodox economics lies in the areas of pricing, price, production, costs, market competition, market governance, and the modeling of the economy as a disaggregated, emergent whole.
In finance, arbitrage pricing theory (APT) is a multi-factor model for asset pricing which relates various macro-economic (systematic) risk variables to the pricing of financial assets. Proposed by economist Stephen Ross in 1976, [ 1 ] it is widely believed to be an improved alternative to its predecessor, the capital asset pricing model (CAPM ...
Cost-plus pricing is the most basic method of pricing. A store will simply charge consumers the cost required to produce a product plus a predetermined amount of profit. Cost-plus pricing is simple to execute, but it only considers internal information when setting the price and does not factor in external influencers like market reactions, the weather, or changes in consumer va
An Edgeworth price cycle is cyclical pattern in prices characterized by an initial jump, which is then followed by a slower decline back towards the initial level. The term was introduced by Maskin and Tirole (1988) [1] in a theoretical setting featuring two firms bidding sequentially and where the winner captures the full market.
When stock price returns follow a single Brownian motion, there is a unique risk neutral measure.When the stock price process is assumed to follow a more general sigma-martingale or semimartingale, then the concept of arbitrage is too narrow, and a stronger concept such as no free lunch with vanishing risk (NFLVR) must be used to describe these opportunities in an infinite dimensional setting.
In finance, the binomial options pricing model (BOPM) provides a generalizable numerical method for the valuation of options.Essentially, the model uses a "discrete-time" (lattice based) model of the varying price over time of the underlying financial instrument, addressing cases where the closed-form Black–Scholes formula is wanting, which in general does not exist for the BOPM.
A price override is a feature of a retail management system which allows an authorised person to change the automated price of a product or service, in order to apply a discount. [1] [2] Price overrides occur for a variety of reasons. One common reason is to discount damaged goods. Another is employee discount and discounts given to other ...