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Systems Engineering Procedia
Article . 2011 . Peer-reviewed
License: CC BY NC ND
Data sources: Crossref
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Systems Engineering Procedia
Article
License: CC BY NC ND
Data sources: UnpayWall
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Systems Engineering Procedia
Article . 2011
License: CC BY NC ND
image/svg+xml art designer at PLoS, modified by Wikipedia users Nina, Beao, JakobVoss, and AnonMoos Open Access logo, converted into svg, designed by PLoS. This version with transparent background. http://commons.wikimedia.org/wiki/File:Open_Access_logo_PLoS_white.svg art designer at PLoS, modified by Wikipedia users Nina, Beao, JakobVoss, and AnonMoos http://www.plos.org/
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Agent-based Simulation of Durables Dynamic Pricing

Authors: Diao, Jinlong; Zhu, Kejun; Gao, Yanhui;

Agent-based Simulation of Durables Dynamic Pricing

Abstract

AbstractThe market is a complex economic system, in which all members adaptively interact with each other and with the environment to make decisions. Therefore, pricing dynamically due to the real market situation is a system engineering task. This paper developed an agent-based consumer affordability model, trying to observe the durables diffusion with price adjusting according to the evolution of product life cycle (PLC). By creating a large number of heterogeneous consumers in the artificial market, consumer behaviors were dynamically established and predicted. Comparison of sales volume and profit were provided in different scenarios, which could support the business decision-making.

Related Organizations
Keywords

ABMS, higher-priced durables, financial engineering, innovation diffusion, dynamic pricing

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    popularity
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    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
17
Top 10%
Top 10%
Top 10%
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