Presents three methods to estimate price elasticity matrices from price and demand data by fitting a diagonal-plus-low-rank factor model via bi-convex optimization.
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Optimal product pricing with elasticities is formulated as convex-concave maximization and solved via convex-concave procedure, quadratic programs, or nonlinear optimization, with numerical tests indicating the solutions are likely globally optimal.
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Estimating Price Elasticity Matrices
Presents three methods to estimate price elasticity matrices from price and demand data by fitting a diagonal-plus-low-rank factor model via bi-convex optimization.
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A Note on Optimal Product Pricing
Optimal product pricing with elasticities is formulated as convex-concave maximization and solved via convex-concave procedure, quadratic programs, or nonlinear optimization, with numerical tests indicating the solutions are likely globally optimal.