Dynamic pricing is a mechanism in which the price is determined dynamically and iteratively through dynamic algorithms. The algorithms can yield optimal or equilibrium pricing solutions that maximize the profit of a single monopolistic seller or multiple oligopolistic sellers, respectively.
Economic Modeling and Pricing
Economic and pricing approaches have been applied to address many issues in wireless/radio resource management. In the following, major economic and pricing models used in the wireless literature are presented Luong et al. (2017).
Cost-based pricing: Cost-based pricing is a common pricing strategy to determine the price of wireless resource and service based on calculating the total cost of acquiring the resource and offering the service as well as adding a percentage of the cost as a desired profit. The goal of cost-based pricing is to ensure that the price yields nonnegative profit to the wireless service provider profitable. The total cost generally...
- Courcoubetis C, Weber R (2003) Cost-based pricing. Wiley, pp 161–194. https://doi.org/10.1002/0470867175.ch7
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