Algorithmic pricing
id:
algorithmic-pricing-309-1580753
title:
Algorithmic pricing
text:
Algorithmic pricing is the practice of automatically setting the requested price for items for sale, in order to maximize the seller's profits. Dynamic pricing algorithms usually rely on one or more of the following data. Probabilistic and statistical information on potential buyers; see Bayesian-optimal pricing.
Prices of competitors. E.g., a seller of an item may automatically detect the lowest price currently offered for that item, and suggest a price within $1 of that price.
Personal informa
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wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Algorithmic_pricing
date created:
date modified:
2023-12-03T14:32:46Z
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13
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