LEARNING OPTIMAL PRICES

PROBLEM TO BE SOLVED: To determine an optima price of a commodity.SOLUTION: A method comprises: a step for presenting a plurality of offers to one or more offerees, the offers including at least one non-deterministic offer having non-deterministic consideration for the offeree; a step for conducting...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: CHRISTOPHER R DANCE, ONNO ZOETER
Format: Patent
Sprache:eng
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Beschreibung
Zusammenfassung:PROBLEM TO BE SOLVED: To determine an optima price of a commodity.SOLUTION: A method comprises: a step for presenting a plurality of offers to one or more offerees, the offers including at least one non-deterministic offer having non-deterministic consideration for the offeree; a step for conducting business activity including the presenting and further including at least one actual business transaction executed in response to an acceptance by an offeree of one of the plurality of offers; a step for receiving offeree decision data during the conducting of the business activity; and a step for generating valuation information based on the offeree decision data. The method further includes a step for generating a new offer based on the generated purchaser valuation information and a step for conducting additional marketing business activity including presenting the new offer. The method is performed using n offeree folds wherein the generating of a new offer for an i-th offeree fold is based on the generated valuation information for offeree folds other than the i-th offeree fold.