Although take-it-or-leave-it pricing is the main mode of operation for many retailers, a number of retailers discreetly allow price negotiation when some haggle-prone customers ask for a bargain. At these retailers, the posted price, which itself is subject to dynamic adjustments in response to...

Motivated by the classic exogenous demand model and the recently developed Markov chain model, we propose a new approximation to the general customer choice model based on random utility called multi-attempt model, in which a customer may consider several substitutes before finally deciding to...