Learning Market Prices in Real-Time Supply Chain Management
| dc.contributor.author | Burke, David A. | |
| dc.contributor.author | Brown, Kenneth N. | |
| dc.contributor.author | Tarim, S. Armagan | |
| dc.contributor.author | Hnich, Brahim | |
| dc.date.accessioned | 2023-06-16T12:59:10Z | |
| dc.date.available | 2023-06-16T12:59:10Z | |
| dc.date.issued | 2008 | |
| dc.description.abstract | This paper proposes a model for dynamic pricing that combines knowledge of production capacity and existing commitments, reasoning about uncertainty and learning of market conditions in an attempt to optimise expected profits. In particular, the market conditions are represented as a set of probabilities over the success rate of product prices, and those prices are learned online as the market develops. The dynamic pricing model is integrated into a real-time supply chain management agent using the Trading Agent Competition Supply Chain Management game as a test framework. We evaluate the agent experimentally in competition with other supply chain agents, and demonstrate the benefits of incorporating more market data into the dynamic pricing mechanism. (c) 2007 Elsevier Ltd. All rights reserved. | en_US |
| dc.identifier.doi | 10.1016/j.cor.2007.01.021 | |
| dc.identifier.issn | 0305-0548 | |
| dc.identifier.issn | 1873-765X | |
| dc.identifier.scopus | 2-s2.0-41149101220 | |
| dc.identifier.uri | https://doi.org/10.1016/j.cor.2007.01.021 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.14365/1150 | |
| dc.language.iso | en | en_US |
| dc.publisher | Pergamon-Elsevier Science Ltd | en_US |
| dc.relation.ispartof | Computers & Operatıons Research | en_US |
| dc.rights | info:eu-repo/semantics/closedAccess | en_US |
| dc.title | Learning Market Prices in Real-Time Supply Chain Management | en_US |
| dc.type | Article | en_US |
| dspace.entity.type | Publication | |
| gdc.author.id | Brown, Kenneth N/0000-0003-1853-0723 | |
| gdc.author.id | Tarim, S. Armagan/0000-0001-5601-3968 | |
| gdc.author.id | Hnich, Brahim/0000-0001-8875-8390 | |
| gdc.author.scopusid | 57197314399 | |
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| gdc.author.scopusid | 6506794189 | |
| gdc.author.scopusid | 6602458958 | |
| gdc.author.wosid | Brown, Kenneth N/G-6752-2012 | |
| gdc.author.wosid | Tarim, S. Armagan/B-4414-2010 | |
| gdc.author.wosid | Hnich, Brahim/B-4435-2010 | |
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| gdc.coar.access | metadata only access | |
| gdc.coar.type | text::journal::journal article | |
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| gdc.description.department | İzmir Ekonomi Üniversitesi | en_US |
| gdc.description.departmenttemp | [Burke, David A.; Brown, Kenneth N.; Tarim, S. Armagan] Natl Univ Ireland Univ Coll Cork, Ctr Telecommun Value Chain Res, Cork, Ireland; [Burke, David A.; Brown, Kenneth N.] Natl Univ Ireland Univ Coll Cork, Cork Constraint Computat Ctr, Cork, Ireland; [Tarim, S. Armagan] Hacettepe Univ, Dept Management, Ankara, Turkey; [Hnich, Brahim] Izmir Univ Econ, Fac Comp Sci, Izmir, Turkey | en_US |
| gdc.description.endpage | 3478 | en_US |
| gdc.description.issue | 11 | en_US |
| gdc.description.publicationcategory | Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı | en_US |
| gdc.description.scopusquality | Q1 | |
| gdc.description.startpage | 3465 | en_US |
| gdc.description.volume | 35 | en_US |
| gdc.description.wosquality | Q1 | |
| gdc.identifier.openalex | W2135454571 | |
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| gdc.oaire.keywords | Auctions, bargaining, bidding and selling, and other market models | |
| gdc.oaire.keywords | Transportation, logistics and supply chain management | |
| gdc.oaire.keywords | Inventory, storage, reservoirs | |
| gdc.oaire.keywords | Microeconomic theory (price theory and economic markets) | |
| gdc.oaire.popularity | 7.022453E-10 | |
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