From complexities to the rules of thumb: towards optimisation in pricing decisions, International Journal of Applied Management Science Bookmark and Share

Abstract: This study is arguing that management would benefit in pricing decision from simple rules of thumb more than from complicated models. These rules are easy to use and they provide management with useful support to move towards optimisation and to diminish gap between theory and practice. This paper presents three kinds of rules for pricing decision dealing with multi-product pricing, dynamic pricing and pricing objective function. (...)