Pricing problems with a continuum of customers as stochastic Stackelberg games
type: Item
instance of: scholarly article
title: Pricing problems with a continuum of customers as stochastic Stackelberg games
zbMATH Open document ID: 0622.90012
DOI: 10.1007/BF00939048
author: T. S. Chang
author: T. Ning
author: Peter B. Luh
published in: Journal of Optimization Theory and Applications
publication date: 1987-01-01T00:00:00Z
review text: The pricing problem where a company sells a certain kind of product to a continuum of customers is considered. It is formulated as a stochastic Stackelberg game with nonnested information structure. The inducible region concept, recently developed for deterministic Stackelberg games, is extended to treat the stochastic pricing problem. Necessary and sufficient conditions for a pricing scheme to be optimal are derived, and the pricing problem is solved by first delineating its inducible region, and then solving a constrained optimal control problem.
Mathematics Subject Classification ID: 91B24
Mathematics Subject Classification ID: 91A15
zbMATH DE Number: 4010165
zbMATH Keywords: pricing problem
zbMATH Keywords: stochastic Stackelberg game
zbMATH Keywords: nonnested information structure
zbMATH Keywords: inducible region concept
zbMATH Keywords: constrained optimal control
MaRDI profile type: Publication
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full work available at URL: https://doi.org/10.1007/bf00939048
OpenAlex ID: W1968664267
description: scientific article; zbMATH DE number 4010165