Fuzzy rule-based demand forecasting for dynamic pricing

Özlem Coşgun; Yeliz Ekinci; Seda Ugurlu

doi:10.1142/9789814417747_0153

Fuzzy rule-based demand forecasting for dynamic pricing

Özlem Coşgun, Yeliz Ekinci, Seda Ugurlu

Department of Industrial Engineering

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Citation (Scopus)

Abstract

In this study, the pricing problem of a transportation service provider company is considered. Our goal is to find optimal prices by using probabilistic dynamic programming. A fuzzy rule-based expert system is used to identify the demand levels under different price levels and other characteristics of the journey. The results obtained by optimal price policies show that the revenue levels and the capacity utilization increase by applying dynamic pricing policy instead of fixed pricing. Thus, the diversification of price policies under different conditions is advantageous for the company.

Original language	English
Title of host publication	World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.
Publisher	World Scientific Publishing Co. Pte Ltd
Pages	957-962
Number of pages	6
ISBN (Print)	9789814417730
DOIs	https://doi.org/10.1142/9789814417747_0153
Publication status	Published - 2012
Event	10th International Fuzzy Logic and Intelligent Technologies inNuclear Science Conference, FLINS 2012 - Istanbul, Turkey Duration: 26 Aug 2012 → 29 Aug 2012

Publication series

Name	World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.
Volume	7

Conference

Conference	10th International Fuzzy Logic and Intelligent Technologies inNuclear Science Conference, FLINS 2012
Country/Territory	Turkey
City	Istanbul
Period	26/08/12 → 29/08/12

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10.1142/9789814417747_0153

Cite this

Coşgun, Ö., Ekinci, Y., & Ugurlu, S. (2012). Fuzzy rule-based demand forecasting for dynamic pricing. In World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf. (pp. 957-962). (World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.; Vol. 7). World Scientific Publishing Co. Pte Ltd. https://doi.org/10.1142/9789814417747_0153

Coşgun, Özlem ; Ekinci, Yeliz ; Ugurlu, Seda. / Fuzzy rule-based demand forecasting for dynamic pricing. World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.. World Scientific Publishing Co. Pte Ltd, 2012. pp. 957-962 (World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.).

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title = "Fuzzy rule-based demand forecasting for dynamic pricing",

abstract = "In this study, the pricing problem of a transportation service provider company is considered. Our goal is to find optimal prices by using probabilistic dynamic programming. A fuzzy rule-based expert system is used to identify the demand levels under different price levels and other characteristics of the journey. The results obtained by optimal price policies show that the revenue levels and the capacity utilization increase by applying dynamic pricing policy instead of fixed pricing. Thus, the diversification of price policies under different conditions is advantageous for the company.",

author = "{\"O}zlem Co{\c s}gun and Yeliz Ekinci and Seda Ugurlu",

year = "2012",

doi = "10.1142/9789814417747_0153",

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series = "World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.",

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booktitle = "World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.",

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note = "10th International Fuzzy Logic and Intelligent Technologies inNuclear Science Conference, FLINS 2012 ; Conference date: 26-08-2012 Through 29-08-2012",

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Coşgun, Ö, Ekinci, Y & Ugurlu, S 2012, Fuzzy rule-based demand forecasting for dynamic pricing. in World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.. World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf., vol. 7, World Scientific Publishing Co. Pte Ltd, pp. 957-962, 10th International Fuzzy Logic and Intelligent Technologies inNuclear Science Conference, FLINS 2012, Istanbul, Turkey, 26/08/12. https://doi.org/10.1142/9789814417747_0153

Fuzzy rule-based demand forecasting for dynamic pricing. / Coşgun, Özlem; Ekinci, Yeliz; Ugurlu, Seda.
World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.. World Scientific Publishing Co. Pte Ltd, 2012. p. 957-962 (World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.; Vol. 7).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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Coşgun Ö, Ekinci Y, Ugurlu S. Fuzzy rule-based demand forecasting for dynamic pricing. In World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.. World Scientific Publishing Co. Pte Ltd. 2012. p. 957-962. (World Scientific Proc. Series on Computer Engineering and Information Science 7; Uncertainty Modeling in Knowledge Engineering and Decision Making - Proceedings of the 10th International FLINS Conf.). doi: 10.1142/9789814417747_0153

Fuzzy rule-based demand forecasting for dynamic pricing

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