Pricing commodities

Robert Krauthgamer; Aranyak Mehta; Atri Rudra

doi:https://doi.org/10.1016/j.tcs.2009.10.002

Pricing commodities

Robert Krauthgamer, Aranyak Mehta, Atri Rudra

Department of Computer Science and Applied Mathematics

Weizmann Institute of Science

Research output: Contribution to journal › Article › peer-review

Abstract

How should a seller price her goods in a market where each buyer prefers a single good among his desired goods, and will buy the cheapest such good, as long as it is within his budget? We provide efficient algorithms that compute near-optimal prices for this problem, focusing on a commodity market, where the range of buyer budgets is small. We also show that our LP rounding based technique easily extends to a different scenario, in which the buyers want to buy all the desired goods, as long as they are within budget.

Original language	English
Pages (from-to)	602-613
Number of pages	12
Journal	Theoretical Computer Science
Volume	412
Issue number	7
DOIs	https://doi.org/10.1016/j.tcs.2009.10.002
State	Published - 25 Feb 2011

All Science Journal Classification (ASJC) codes

Theoretical Computer Science
General Computer Science

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https://doi.org/10.1016/j.tcs.2009.10.002

Cite this

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title = "Pricing commodities",

abstract = "How should a seller price her goods in a market where each buyer prefers a single good among his desired goods, and will buy the cheapest such good, as long as it is within his budget? We provide efficient algorithms that compute near-optimal prices for this problem, focusing on a commodity market, where the range of buyer budgets is small. We also show that our LP rounding based technique easily extends to a different scenario, in which the buyers want to buy all the desired goods, as long as they are within budget.",

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Pricing commodities

Abstract

All Science Journal Classification (ASJC) codes

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