Risk-sensitive dynamic pricing for a single perishable product |
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Authors: | Michael ZF Li Weifen Zhuang |
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Institution: | aNanyang Business School, Nanyang Technological University, Singapore 639798, Singapore |
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Abstract: | We show that the monotone structures of dynamic pricing for a single perishable product under risk-neutrality are preserved under risk-sensitivity with the additive general utility and atemporal exponential utility functions. We also show that the optimal price is decreasing over the degree of risk-sensitivity under the exponential class of both additive and atemporal utility functions. |
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Keywords: | Dynamic pricing Risk-sensitive Additive utility Atemporal utility |
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