@inproceedings{6b68ea6c582944bf9812ab906b2ca21c,
title = "Dynamic pricing in complex behaving consumer markets: Submitted for the ESSA2009 conference",
abstract = "This paper is a follow up of the ESSA paper presented by us last year. In this paper we focus on the efficacy of dynamic responses - in particular a price-cut - to a decrease in sales. We observe that dynamic pricing strategies, which respond to market shares, increase the survival rates of products. Moreover we show that a faster response to a decrease in sales results in a larger market share and a lower occurrence of price-cuts. The implications of how such simulation tools can be used in practice are being discussed.",
author = "Wander Jager and Marcus Janssen",
year = "2009",
month = jan,
day = "1",
language = "English (US)",
series = "Conference Proceedings - 6th Conference of the European Social Simulation Association, ESSA 2009",
publisher = "The European Social Simulation Association (ESSA)",
editor = "Bruce Edmonds and Nigel Gilbert",
booktitle = "Conference Proceedings - 6th Conference of the European Social Simulation Association, ESSA 2009",
note = "6th Conference of the European Social Simulation Association, ESSA 2009 ; Conference date: 14-09-2009 Through 18-09-2009",
}