A multi-stage optimal control approach of durable goods pricing and the launch of new product generations.
Andrea SeidlRichard F. HartlPeter M. KortPublished in: Autom. (2019)
Keyphrases
- optimal control
- multistage
- dynamic programming
- information goods
- pricing mechanism
- single stage
- control problems
- feedback control
- production system
- periodic review
- infinite horizon
- assembly systems
- optimal control problems
- stochastic optimization
- stochastic programming
- control strategy
- dynamic pricing
- markov decision processes
- lot sizing
- supply chain management
- optimal policy
- state space
- knapsack problem
- inventory systems
- revenue management
- linear quadratic
- reinforcement learning