Optimal pricing in black box producer-consumer Stackelberg games using revealed preference feedback

Journal article

This paper considers an optimal pricing problem for the black box producer-consumer Stackelberg game. A producer sets price over a set of goods to maximize profit (the difference in revenue and cost function). The consumer buys a quantity to maximize the difference between the value of the quantity consumed and the cost. The value function of the consumer and the cost function of the producer are ‘black box’ functions (unknown functions with limited or costly evaluations). Using Gaussian proc...

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Authors: Aprem, A; Roberts, SJ

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Elsevier Publisher's website
• Journal: Neurocomputing Journal website
• Volume: 437
• Pages: 31-41
• Publication date: 2021-01-19
• Acceptance date: 2021-01-05
• DOI: 10.1016/j.neucom.2021.01.026
• EISSN: 1872-8286
• ISSN: 0925-2312
• Language: English
• Keywords: Stackelberg game; producer-consumer; black box; value function; FFR; optimal pricing; non-convex; time varying; Gaussian process