We present a new ordering rule for the newsboy problem where besides mean and variance of demand, the probability that the demand assuming that value zero is also known. We derive a lowerbound for the expected profit over the set of distributions with given parameters and construct a...

In this paper, we consider a multi-unit Dutch auction over the Internet where auctioneer gradually decrements per unit price of the item during the course of the auction. We investigate an optimal price control problem of the auctioneer, that is, the problem of finding a decrementing price...

We study price dynamics in a service market environment where identical service providers dynamically reset their prices to price discriminate informed and uninformed consumers. A semi-Markovian game model for dynamic pricing is developed and a new multi-time scale actor-critic algorithm is...