【主讲】马里兰大学教授Michael C. Fu

【题目】使用供应需求曲线的B2B定价：最优学习和动态梯度

【时间】2015年7月10日（周五）10.30-12.00

【地点】清华经管学院伟伦楼453

【语言】英文

【主办】管理科学与工程系

【简历】Michael C. Fu老师的简历

Michael C. Fu, Ralph J. Tyser Professor of Management Science, Maryland University: Business-to-Business Pricing Using Logistic Demand Curves: Optimal Learning and Stochastic Gradients

【Speaker】Michael C. Fu, Ralph J. Tyser Professor of Management Science, Maryland University

【Title】Business-to-Business Pricing Using Logistic Demand Curves: Optimal Learning and Stochastic Gradients

【Time】Friday, July 10, 10.30-12.00

【Venue】Room 453, Weilun Building, Tsinghua SEM

【Language】English

【Organizer】Department of Management Science and Engineering

【Abstract】In business-to-business (B2B) pricing, a seller seeks to maximize revenue obtained from high-volume trans- actions involving a wide variety of buyers, products, and other characteristics. Buyer response is highly uncertain, and the seller only observes whether buyers accept or reject the offered prices. These deals are also subject to high opportunity cost, since revenue is zero if the price is rejected. The seller must adapt to this uncertain environment and learn quickly from new deals as they take place. We propose a new framework for statistical and optimal learning in this problem, based on approximate Bayesian inference, that enables the seller to learn efficiently about the buyers. Crucial to this framework is the ability to measure and update the seller’s uncertainty about the buyers based on new deals. In a case study, based on historical data, we show that this framework offers significant practical benefits.