Machine Learning based Framework for Robust Price-Sensitivity Estimation with Application to Airline Pricing
基于机器学习的稳健价格敏感度估计及航空定价应用
We consider the problem of dynamic pricing of a product in the presence of feature-dependent price sensitivity. Developing practical algorithms that can estimate price elasticities robustly, especially when information about no purchases (losses) is not available, to drive such automated pricing systems is a challenge faced by many industries. Based on the Poisson semi-parametric approach, we construct a flexible yet interpretable demand model where the price related part is…