Calculates the optimal price of assets (such as airline flight seats, hotel room bookings) whose value becomes zero after a fixed ``expiry date''. Assumes potential customers arrive (possibly in groups) according to a known inhomogeneous Poisson process. Also assumes a known time-varying elasticity of demand (price sensitivity) function. Uses elementary techniques based on ordinary differential equations. Uses the package deSolve to effect the solution of these differential equations.
|Author||Rolf Turner <[email protected]>|
|Date of publication||2018-04-01 03:05:35 UTC|
|Maintainer||Rolf Turner <[email protected]>|
|License||GPL (>= 2)|
|Package repository||View on CRAN|
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