It is well known that store-level brand sales may not only depend on contemporaneous influencing factors like current own and competitive prices or other marketing activities, but also on past prices representing customer response to price dynamics. On the other hand, non- or semiparametric...

We combine nonparametric price response modeling and dynamic pricing. In particular, we model sales response for fast-moving consumer goods sold by a physical retailer using a Bayesian semiparametric approach and incorporate the price of the previous period as well as further time-dependent...