Robust price optimization of multiple products under interval uncertainties

In this paper, we solve a multi-product price optimization problem under interval uncertainty of the sensitivity parameter in demand function. The objective is to maximize revenue firm where decision variables are prices products supplied by firm. We propose an approach that yields solutions remain optimal different variations estimated parameters. adopt robust building data-driven set for parameters, and then construct deterministic counterpart model. numerical results show two research objectives fulfilled: method reflects embedded estimations, also obtained prices. conducted simulation study which compared our approach. comparisons demonstrate although deemed be conservative, proposed indicate little lost those from simulation.