The effects of demand elasticity and selling price decisions on the value of information

Abbas, Ali E.; Zellner, Maximilian

doi:10.1109/syscon.2018.8369489

Cited by 3 publications

(2 citation statements)

References 9 publications

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“…Sementara Byanjankar & Viljanen (2020), menyelidiki dan memprediksi keuntungan atas kembalilan investasi dengan mempertimbangkan berbagai risiko dari aktivitas bisnis sebagai objek yang ditelitinya. Penelitian yang menyelidiki upaya mencapai keuntungan maksimum yang diharapkan dengan menggunakan metode trade off waktu-biaya dilakukan Alavipour & Arditi (2019), dan penelitian yang berfokus pada upaya memaksimalkan ROI digunakan untuk menentukan kebijakan harga yang optimal (misalnya, Kevork, 2010;Abbas & Zellner, 2018;dan Pando et al, (2021).…”

Section: Pendahuluanunclassified

Penentuan Harga Jual: Harga Pokok Produksi dan Ekspektasi Laba

Firmansyah

Mulyadi

Susetyo

2023

JKBM

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The purpose of this study is to analyze the relationship between cost of goods produced and profit expectations in influencing the determination of selling prices. This research uses a mix method approach. Research samples during 5 reporting periods with purposive sampling techniques. Secondary data as the primary source with time series data characteristics. A multiple linear regression model is selected and a model feasibility test is performed. Research findings, that the relationship between cost of goods produced and profit expectations can predict the determination of selling prices. The cost of goods produced and profit expectations have proven to have a positive and significant effect on determining selling prices, both individually and simultaneously. The implication, a selling pricing strategy requires complete cost information and the practice emphasizes conformity. Determination of selling prices as a determination of a strategy is quite complicated, the cost factor is not the only one considered. External factors beyond control remain the basis for consideration, as much as possible must be recognized to support the success of decision making on selling price strategies. The right conditions to increase or decrease the selling price of a product/service still require investigation. This can serve as a future research direction.

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Section: Pendahuluanunclassified

Penentuan Harga Jual: Harga Pokok Produksi dan Ekspektasi Laba

Firmansyah

Mulyadi

Susetyo

2023

JKBM

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“…Our contributions are three-fold. (1) We propose to utilize the price elasticity of demand to enhance the occupancy estimation and formally define a novel elastic demand function for hotel dynamic pricing. (2) We develop a multi-task price elasticity learning framework that tackles the data sparsity of room-level occupancy with the assistance of hotel-level occupancy prediction, and alleviate the endogeneity problem with carefully designed modules.…”

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confidence: 99%

Research: Modeling Price Elasticity for Occupancy Prediction in Hotel Dynamic Pricing

Zhu¹,

Xiao²,

Yu³

et al. 2022

Preprint

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Demand estimation plays an important role in dynamic pricing where the optimal price can be obtained via maximizing the revenue based on the demand curve. In online hotel booking platform, the demand or occupancy of rooms varies across room-types and changes over time, and thus it is challenging to get an accurate occupancy estimate. In this paper, we propose a novel hotel demand function that explicitly models the price elasticity of demand for occupancy prediction, and design a price elasticity prediction model to learn the dynamic price elasticity coefficient from a variety of affecting factors. Our model is composed of carefully designed elasticity learning modules to alleviate the endogeneity problem, and trained in a multi-task framework to tackle the data sparseness. We conduct comprehensive experiments on real-world datasets and validate the superiority of our method over the state-of-the-art baselines for both occupancy prediction and dynamic pricing.

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Modeling Price Elasticity for Occupancy Prediction in Hotel Dynamic Pricing

Zhu

Xiao

et al. 2022

Proceedings of the 31st ACM International Conference on Information &Amp; Knowledge Management

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The effects of demand elasticity and selling price decisions on the value of information

Cited by 3 publications

References 9 publications

Penentuan Harga Jual: Harga Pokok Produksi dan Ekspektasi Laba

Penentuan Harga Jual: Harga Pokok Produksi dan Ekspektasi Laba

Research: Modeling Price Elasticity for Occupancy Prediction in Hotel Dynamic Pricing

Modeling Price Elasticity for Occupancy Prediction in Hotel Dynamic Pricing

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