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Pricing Multiple Products with the Multinomial Logit and Nested Logit Models: Concavity and Implications

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Cited by:

  1. Pol Boada-Collado & Victor Martínez-de-Albéniz, 2020. "Estimating and Optimizing the Impact of Inventory on Consumer Choices in a Fashion Retail Setting," Manufacturing & Service Operations Management, INFORMS, vol. 22(3), pages 582-597, May.
  2. Zuzana Gocmanová & Jaromír Skorkovský & Štěpán Veselý & Jan Böhm, 2019. "Where Do You Want to Go Skiing? The Effect of the Reference Point and Loss Aversion," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 67(1), pages 243-252.
  3. Xi Chen & Zachary Owen & Clark Pixton & David Simchi-Levi, 2022. "A Statistical Learning Approach to Personalization in Revenue Management," Management Science, INFORMS, vol. 68(3), pages 1923-1937, March.
  4. Charilaos Latinopoulos & Aruna Sivakumar & John W. Polak, 2021. "Optimal Pricing of Vehicle-to-Grid Services Using Disaggregate Demand Models," Energies, MDPI, vol. 14(4), pages 1-27, February.
  5. Yiwei Chen & Cong Shi, 2023. "Network revenue management with online inverse batch gradient descent method," Production and Operations Management, Production and Operations Management Society, vol. 32(7), pages 2123-2137, July.
  6. Hongmin Li & Scott Webster, 2017. "Optimal Pricing of Correlated Product Options Under the Paired Combinatorial Logit Model," Operations Research, INFORMS, vol. 65(5), pages 1215-1230, October.
  7. Tamer Boyaci & Yalçin Akçay, 2016. "Pricing when customers have limited attention," ESMT Research Working Papers ESMT-16-01, ESMT European School of Management and Technology, revised 19 Jan 2017.
  8. Chung‐seung Lee & Metin Çakanyildirim, 2021. "Price Competition Under Mixed Multinomial Logit Demand: Sufficiency Conditions for Validating the Model," Production and Operations Management, Production and Operations Management Society, vol. 30(9), pages 3272-3283, September.
  9. Guillermo Gallego & Ruxian Wang, 2014. "Multiproduct Price Optimization and Competition Under the Nested Logit Model with Product-Differentiated Price Sensitivities," Operations Research, INFORMS, vol. 62(2), pages 450-461, April.
  10. Wang, Xiaolin & Zhao, Xiujie & Liu, Bin, 2020. "Design and pricing of extended warranty menus based on the multinomial logit choice model," European Journal of Operational Research, Elsevier, vol. 287(1), pages 237-250.
  11. Hongmin Li, 2020. "Optimal Pricing Under Diffusion-Choice Models," Operations Research, INFORMS, vol. 68(1), pages 115-133, January.
  12. Lusheng Shao, 2023. "Competitive multiproduct contracting under multinomial logit demand," Production and Operations Management, Production and Operations Management Society, vol. 32(2), pages 379-396, February.
  13. Arnoud V. den Boer & Janusz M. Meylahn & Maarten Pieter Schinkel, 2022. "Artificial Collusion: Examining Supracompetitive Pricing by Q-learning Algorithms," Tinbergen Institute Discussion Papers 22-067/VII, Tinbergen Institute.
  14. Huashuai Qu & Ilya O. Ryzhov & Michael C. Fu & Eric Bergerson & Megan Kurka & Ludek Kopacek, 2020. "Learning Demand Curves in B2B Pricing: A New Framework and Case Study," Production and Operations Management, Production and Operations Management Society, vol. 29(5), pages 1287-1306, May.
  15. Mert Hakan Hekimoğlu & Burak Kazaz & Scott Webster, 2017. "Wine Analytics: Fine Wine Pricing and Selection Under Weather and Market Uncertainty," Manufacturing & Service Operations Management, INFORMS, vol. 19(2), pages 202-215, May.
  16. Panos Kouvelis & Yixuan Xiao & Nan Yang, 2015. "PBM Competition in Pharmaceutical Supply Chain: Formulary Design and Drug Pricing," Manufacturing & Service Operations Management, INFORMS, vol. 17(4), pages 511-526, October.
  17. Yiwei Chen & Nikolaos Trichakis, 2021. "Technical Note—On Revenue Management with Strategic Customers Choosing When and What to Buy," Operations Research, INFORMS, vol. 69(1), pages 175-187, January.
  18. James M. Davis & Huseyin Topaloglu & David P. Williamson, 2017. "Pricing Problems Under the Nested Logit Model with a Quality Consistency Constraint," INFORMS Journal on Computing, INFORMS, vol. 29(1), pages 54-76, February.
  19. Woonghee Tim Huh & Hongmin Li, 2015. "Technical Note—Pricing Under the Nested Attraction Model with a Multistage Choice Structure," Operations Research, INFORMS, vol. 63(4), pages 840-850, August.
  20. Jalali, Hamed & Carmen, Raïsa & Van Nieuwenhuyse, Inneke & Boute, Robert, 2019. "Quality and pricing decisions in production/inventory systems," European Journal of Operational Research, Elsevier, vol. 272(1), pages 195-206.
  21. W. Zachary Rayfield & Paat Rusmevichientong & Huseyin Topaloglu, 2015. "Approximation Methods for Pricing Problems Under the Nested Logit Model with Price Bounds," INFORMS Journal on Computing, INFORMS, vol. 27(2), pages 335-357, May.
  22. Hongmin Li & Scott Webster & Gwangjae Yu, 2020. "Product Design Under Multinomial Logit Choices: Optimization of Quality and Prices in an Evolving Product Line," Manufacturing & Service Operations Management, INFORMS, vol. 22(5), pages 1011-1025, September.
  23. Zhang, Jian & Nault, Barrie R. & Tu, Yiliu, 2015. "A dynamic pricing strategy for a 3PL provider with heterogeneous customers," International Journal of Production Economics, Elsevier, vol. 169(C), pages 31-43.
  24. Thomas Loots & Arnoud V. den Boer, 2023. "Data‐driven collusion and competition in a pricing duopoly with multinomial logit demand," Production and Operations Management, Production and Operations Management Society, vol. 32(4), pages 1169-1186, April.
  25. Mika Sumida & Guillermo Gallego & Paat Rusmevichientong & Huseyin Topaloglu & James Davis, 2021. "Revenue-Utility Tradeoff in Assortment Optimization Under the Multinomial Logit Model with Totally Unimodular Constraints," Management Science, INFORMS, vol. 67(5), pages 2845-2869, May.
  26. Ruxian Wang, 2018. "When Prospect Theory Meets Consumer Choice Models: Assortment and Pricing Management with Reference Prices," Manufacturing & Service Operations Management, INFORMS, vol. 20(3), pages 583-600, July.
  27. Xiaobo Li & Hailong Sun & Chung Piaw Teo, 2022. "Convex Optimization for Bundle Size Pricing Problem," Management Science, INFORMS, vol. 68(2), pages 1095-1106, February.
  28. Srikanth Jagabathula & Paat Rusmevichientong, 2017. "Nonparametric Joint Assortment and Price Choice Model," Management Science, INFORMS, vol. 63(9), pages 3128-3145, September.
  29. James M. Davis & Guillermo Gallego & Huseyin Topaloglu, 2014. "Assortment Optimization Under Variants of the Nested Logit Model," Operations Research, INFORMS, vol. 62(2), pages 250-273, April.
  30. Guang Li & Paat Rusmevichientong & Huseyin Topaloglu, 2015. "The d -Level Nested Logit Model: Assortment and Price Optimization Problems," Operations Research, INFORMS, vol. 63(2), pages 325-342, April.
  31. Woonghee Tim Huh & Michael Jong Kim & Meichun Lin, 2022. "Bayesian dithering for learning: Asymptotically optimal policies in dynamic pricing," Production and Operations Management, Production and Operations Management Society, vol. 31(9), pages 3576-3593, September.
  32. Sylvia Bleker & Christiaan Behrens & Paul Koster & Erik T. Verhoef, 2014. "Market Structure and the Pricing of New Products: A Nested Logit Approach with Asymmetric Firms," Tinbergen Institute Discussion Papers 14-142/VIII, Tinbergen Institute.
  33. Guillermo Gallego & Huseyin Topaloglu, 2014. "Constrained Assortment Optimization for the Nested Logit Model," Management Science, INFORMS, vol. 60(10), pages 2583-2601, October.
  34. Woonghee T. Huh & Hongmin Li, 2023. "Product‐line pricing with dual objective of profit and consumer surplus," Production and Operations Management, Production and Operations Management Society, vol. 32(4), pages 1223-1242, April.
  35. David Muller & Yurii Nesterov & Vladimir Shikhman, 2021. "Dynamic pricing under nested logit demand," Papers 2101.04486, arXiv.org.
  36. Gallego, Guillermo & Li, Anran & Truong, Van-Anh & Wang, Xinshang, 2020. "Approximation algorithms for product framing and pricing," LSE Research Online Documents on Economics 101983, London School of Economics and Political Science, LSE Library.
  37. Dan Zhang & Larry Weatherford, 2017. "Dynamic Pricing for Network Revenue Management: A New Approach and Application in the Hotel Industry," INFORMS Journal on Computing, INFORMS, vol. 29(1), pages 18-35, February.
  38. Hai Jiang & Rui Chen & He Sun, 2017. "Multiproduct price optimization under the multilevel nested logit model," Annals of Operations Research, Springer, vol. 254(1), pages 131-164, July.
  39. Schlicher, Loe & Lurkin, Virginie, 2022. "Stable allocations for choice-based collaborative price setting," European Journal of Operational Research, Elsevier, vol. 302(3), pages 1242-1254.
  40. Rui Chen & Hai Jiang, 2020. "Assortment optimization with position effects under the nested logit model," Naval Research Logistics (NRL), John Wiley & Sons, vol. 67(1), pages 21-33, February.
  41. Lingxiu Dong & Guang Xiao & Nan Yang, 2023. "Supply diversification under random yield: The impact of price postponement," Production and Operations Management, Production and Operations Management Society, vol. 32(4), pages 1112-1132, April.
  42. Ming Chen & Zhi-Long Chen, 2018. "Robust Dynamic Pricing with Two Substitutable Products," Manufacturing & Service Operations Management, INFORMS, vol. 20(2), pages 249-268, May.
  43. Zhenzhen Yan & Karthik Natarajan & Chung Piaw Teo & Cong Cheng, 2022. "A Representative Consumer Model in Data-Driven Multiproduct Pricing Optimization," Management Science, INFORMS, vol. 68(8), pages 5798-5827, August.
  44. Laura Wagner & Victor Martínez-de-Albéniz, 2020. "Pricing and Assortment Strategies with Product Exchanges," Operations Research, INFORMS, vol. 68(2), pages 453-466, March.
  45. Wang, Xinchang & Meng, Qiang, 2019. "Optimal price decisions for joint ventures between port operators and shipping lines under the congestion effect," European Journal of Operational Research, Elsevier, vol. 273(2), pages 695-707.
  46. Aydın Alptekinoğlu & John H. Semple, 2016. "The Exponomial Choice Model: A New Alternative for Assortment and Price Optimization," Operations Research, INFORMS, vol. 64(1), pages 79-93, February.
  47. Ruxian Wang & Zizhuo Wang, 2017. "Consumer Choice Models with Endogenous Network Effects," Management Science, INFORMS, vol. 63(11), pages 3944-3960, November.
  48. Kameng Nip & Changjun Wang & Zizhuo Wang, 2022. "Competitive and Cooperative Assortment Games under Markov Chain Choice Model," Production and Operations Management, Production and Operations Management Society, vol. 31(3), pages 1033-1051, March.
  49. Bacel Maddah & Fouad Ben Abdelaziz & Hussein Tarhini, 2021. "Bi-objective optimization of retailer’s profit and customer surplus in assortment and pricing planning," Annals of Operations Research, Springer, vol. 296(1), pages 195-210, January.
  50. Ruxian Wang & Maqbool Dada & Ozge Sahin, 2019. "Pricing Ancillary Service Subscriptions," Management Science, INFORMS, vol. 65(10), pages 4712-4732, October.
  51. Miju Ahn & Xiaodong Luo & Sergey Shebalov, 2020. "Variable pricing: an integrated airline pricing and revenue management model," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 19(6), pages 421-435, December.
  52. Cenying Yang & Yihao Feng & Andrew Whinston, 2022. "Dynamic Pricing and Information Disclosure for Fresh Produce: An Artificial Intelligence Approach," Production and Operations Management, Production and Operations Management Society, vol. 31(1), pages 155-171, January.
  53. Tien Mai & Patrick Jaillet, 2019. "Robust Product-line Pricing under Generalized Extreme Value Models," Papers 1912.09552, arXiv.org, revised Oct 2021.
  54. Sentao Miao & Xiuli Chao, 2021. "Dynamic Joint Assortment and Pricing Optimization with Demand Learning," Manufacturing & Service Operations Management, INFORMS, vol. 23(2), pages 525-545, March.
  55. Mo, Dong & Yu, Jingru & Chen, Xiqun Michael, 2020. "Modeling and managing heterogeneous ride-sourcing platforms with government subsidies on electric vehicles," Transportation Research Part B: Methodological, Elsevier, vol. 139(C), pages 447-472.
  56. Ruben van de Geer & Arnoud V. den Boer, 2022. "Price Optimization Under the Finite-Mixture Logit Model," Management Science, INFORMS, vol. 68(10), pages 7480-7496, October.
  57. Chenhao Du & William L. Cooper & Zizhuo Wang, 2016. "Optimal Pricing for a Multinomial Logit Choice Model with Network Effects," Operations Research, INFORMS, vol. 64(2), pages 441-455, April.
  58. Hongzhang Shao & Anton J. Kleywegt, 2020. "Tractable Profit Maximization over Multiple Attributes under Discrete Choice Models," Papers 2007.09193, arXiv.org, revised Dec 2021.
  59. Zhou, Yong-Wu & Lin, Xiaogang & Zhong, Yuanguang & Xie, Wei, 2019. "Contract selection for a multi-service sharing platform with self-scheduling capacity," Omega, Elsevier, vol. 86(C), pages 198-217.
  60. Ruxian Wang & Ozge Sahin, 2018. "The Impact of Consumer Search Cost on Assortment Planning and Pricing," Management Science, INFORMS, vol. 64(8), pages 3649-3666, August.
  61. Yangyang Xie & Lei Xie & Meng Lu & Houmin Yan, 2021. "Performance‐Price‐Ratio Utility: Market Equilibrium Analysis and Empirical Calibration Studies," Production and Operations Management, Production and Operations Management Society, vol. 30(5), pages 1442-1456, May.
  62. Tim Noparumpa & Burak Kazaz & Scott Webster, 2015. "Wine Futures and Advance Selling Under Quality Uncertainty," Manufacturing & Service Operations Management, INFORMS, vol. 17(3), pages 411-426, July.
  63. Juan Pérez & Héctor López-Ospina, 2022. "Competitive Pricing for Multiple Market Segments Considering Consumers’ Willingness to Pay," Mathematics, MDPI, vol. 10(19), pages 1-32, October.
  64. Maxime C. Cohen & Renyu Zhang, 2022. "Competition and coopetition for two‐sided platforms," Production and Operations Management, Production and Operations Management Society, vol. 31(5), pages 1997-2014, May.
  65. Anton J. Kleywegt & Hongzhang Shao, 2022. "Revenue Management Under the Markov Chain Choice Model with Joint Price and Assortment Decisions," Papers 2204.04774, arXiv.org.
  66. H. Sebastian Heese & Victor Martínez-de-Albéniz, 2018. "Effects of Assortment Breadth Announcements on Manufacturer Competition," Manufacturing & Service Operations Management, INFORMS, vol. 20(2), pages 302-316, May.
  67. Hongmin Li & Scott Webster & Nicholas Mason & Karl Kempf, 2019. "Product-Line Pricing Under Discrete Mixed Multinomial Logit Demand," Service Science, INFORMS, vol. 21(1), pages 14-28, January.
  68. Oh, Jaelynn & Huh, Woonghee Tim, 2022. "Hidden city travel and its impact on airfare: The case with competing airlines," Transportation Research Part B: Methodological, Elsevier, vol. 156(C), pages 101-109.
  69. Jacob B. Feldman & Huseyin Topaloglu, 2017. "Revenue Management Under the Markov Chain Choice Model," Operations Research, INFORMS, vol. 65(5), pages 1322-1342, October.
  70. Sergey Naumov & David Keith, 2023. "Optimizing the economic and environmental benefits of ride‐hailing and pooling," Production and Operations Management, Production and Operations Management Society, vol. 32(3), pages 904-929, March.
  71. Rui Chen & Hai Jiang, 2020. "Capacitated assortment and price optimization under the nested logit model," Journal of Global Optimization, Springer, vol. 77(4), pages 895-918, August.
  72. Strauss, Arne K. & Klein, Robert & Steinhardt, Claudius, 2018. "A review of choice-based revenue management: Theory and methods," European Journal of Operational Research, Elsevier, vol. 271(2), pages 375-387.
  73. Jing-Sheng Song & Zhengliang Xue, 2021. "Demand Shaping Through Bundling and Product Configuration: A Dynamic Multiproduct Inventory-Pricing Model," Operations Research, INFORMS, vol. 69(2), pages 525-544, March.
  74. Nan Yang & Renyu Zhang, 2022. "Comparative Statics Analysis of An Inventory Management Model with Dynamic Pricing, Market Environment Fluctuation, and Delayed Differentiation," Production and Operations Management, Production and Operations Management Society, vol. 31(1), pages 341-357, January.
  75. Guillermo Gallego & Anran Li & Van-Anh Truong & Xinshang Wang, 2020. "Approximation Algorithms for Product Framing and Pricing," Operations Research, INFORMS, vol. 68(1), pages 134-160, January.
  76. Marketa Kubickova, 2022. "Revenue management in manufacturing: systematic review of literature," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 21(2), pages 147-152, April.
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