Speaker
Sotiris Bersimis
(University of Piraeus, Greece)
Description
Dynamic pricing has emerged as a powerful mechanism for adapting product and service prices in real time, based on fluctuating market conditions, customer behavior, and operational constraints. In this work, we explore a novel approach to dynamic pricing that leverages techniques from statistical process monitoring and probability modelling toolboxs. Through a series of simulations as well as a real-world case study, we assess the effectiveness of this hybrid approach across different industries. Our findings suggest that incorporating process monitoring procedures into pricing models not only improves economic outcomes but also enhances transparency and resilience in dynamic environments.
| Classification | Mainly methodology |
|---|---|
| Keywords | Process Monitoring; Poisson Distribution; Price Optimization |
Primary authors
Sotiris Bersimis
(University of Piraeus, Greece)
Mr
Nikos Rokakis
(University of Piraeus, Greece)
Ms
Ekaterini Skamnia
(University of Patras, Greece)
Polychronis Economou
(Department of Civil Engineering, University of Patras)