While pricing decisions that are based on experience are quite common, e.g., setting a selling price for a used car, this type of decision has been surprisingly overlooked in psychology and decision research. Previous studies have focused on either choice decisions from experience, or pricing decisions from description. Those studies revealed that pricing involves cognitive mechanisms other tha...

Based on a large-scale, unique longitudinal dataset comprising more than 4m transactions, I first investigate drivers of customers’ point of sale choice (online vs. counter PoS). Second, I study which PoS yields higher purchase decision quality. I establish whether linkages hold across different customer segments and pricing contexts, and examine consumers’ learning effects over time. Third, I ...

multistage stochastic programming is a key technology for making decisions over time in an uncertain environment. one of the promising areas in which this technology is implementable, is medium term planning of electricity production and trading where decision makers are typically faced with uncertain parameters (such as future demands and market prices) that can be described by stochastic proc...

Multistage stochastic programming is a key technology for making decisions over time in an uncertain environment. One of the promising areas in which this technology is implementable, is medium term planning of electricity production and trading where decision makers are typically faced with uncertain parameters (such as future demands and market prices) that can be described by stochastic proc...

We present a laboratory experiment on the impact of price framing on consumer decision making. Consumer subjects face a search market where two sellers offer a homogeneous good. We examine six different price frames with linear perunit pricing (that is displayed as such) serving as a benchmark. We find that all frames deviating from the benchmark have some negative impact on consumer decision m...

Dual-channel not only provides reasonable products but also a large quantity of opportunities, where the members’ attitude towards risk has a major impact on channel optimization. In this paper, risks are classified as general risk and interruption risk. As for general risk, combined with risk-aversion attitude, mean-variance method is used to build optimal pricing model and expected utility mo...

Many firms in the oil and gas business have long used decision analysis techniques to evaluate exploration and development opportunities and have looked at recent development in option pricing theory as potentially offering improvements over the decision analysis approach. Unfortunately, it is difficult to discern the benefits of the options approach from the literature on the topic: Most of th...

This paper describes an argumentation-based approach for automating the decision making process of an autonomous agent for pricing products. Product pricing usually involves different decision makers with different possibly conflicting points of view. Moreover, when considering firms in the retail business sector, they have hundreds or thousands of products to apply a pricing policy. Our approa...