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Article: Dynamic pricing of perishable goods pricing in electronic markets.(Report)
- Article from:
- International Journal of Business Strategy
- Article date:
- May 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 International Academy of Business and Economics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ABSTRACT
The paper focuses on the dynamic pricing of perishable goods in the electronic markets. Compared with the ordinary durable goods, the perishable goods can preserve shorter time, so it is not suitable for perishable goods to take the same pricing method as other goods. Based on the characteristics of the perishable goods and the need of changed market demand, we have put forward a dynamic pricing model and have demonstrated how to run the simulation by Agent software in order to obtain the maximum profit for suppliers. What's more, the preserved time is different among the perishable goods, and methods for time restricted limitations of perishable goods ...