JP Dube, University of Chicago
For many companies, the management of revenues tends to be based on ad hoc rules of thumb. Companies that are making money often do not believe they have a revenue problem. That is, they do not consider the opportunity costs of rules of thumb (vs. true optimization). To document these costs and offer an alternative, J. P. Dube will discuss several field experiments involving randomizing prices for companies to optimize their pricing against a specific set of objectives.
Related ConferenceNov 06 – 07, 2019
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