Optimal Dynamic Pricing in an Oligopolistic Market: a Survey

Abstract

The article deals with some important issues in relation to the determination of optimal pricing policies in an oligopolistic market. This problem has been approached by using different bodies of research, e.g. economic theory, marketing science and game theory. However, many models are still inadequate in their treatment of the dynamics of pricing as well as the problems of competitive interactions. We give a statement of the actual and potential contributions from the different areas of research mentioned and review a series of models which offers prescriptions for the pricing manager in a dynamic, oligo-polistic environment. "otigopotytheopy began ~ith Cdupnot, mope than 140 yeap8 ago. Judging. fpom many intepmediate te~tbooks on ppice theopy, one might think it ended ~ith him too"