Document Type

Working Paper

Abstract

We study price dynamics in a service market environment where identical service providers dynamically reset their prices to price discriminate informed and uninformed consumers. A semi-Markovian game model for dynamic pricing is developed and a new multi-time scale actor-critic algorithm is proposed for multi-agent reinforcement learning. Also, experimental results on convergence to a Nash equilibrium are presented.

Publication Date

1-4-2003

Publisher

Indian Institute of Management Bangalore

Relation

IIMB Working Paper-210

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