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What is Pricing

Advanced Methodologies and Technologies in Business Operations and Management
The procedure of defining the price of traded assets, services or commodities. Spot pricing is an on-site agreement about the price of the traded resource based on offer and demand. There can be more elaborated pricing schemes taking place in longer time intervals (trading of financial options or commodities) which apart from offer and demand are also dependent on supporting services and procedures for the trading transaction (e.g. ability to store and transport goods, availability of equipment, credibility of the trading parts etc.).
Published in Chapter:
Distributed Parameter Systems Control and Its Applications to Financial Engineering
Gerasimos G. Rigatos (Industrial Systems Institute, Greece) and Pierluigi Siano (University of Salerno, Italy)
DOI: 10.4018/978-1-5225-7362-3.ch002
Abstract
The chapter analyzes differential flatness theory for the control of single asset and multi-asset option price dynamics, described by PDE models. Through these control methods, stabilization of distributed parameter (PDE modelled) financial systems is achieved and convergence to specific financial performance indices are made possible. The main financial model used in the chapter is the Black-Scholes PDE. By applying semi-discretization and a finite differences scheme the single-asset (equivalently multi-asset) Black-Scholes PDE is transformed into a state-space model consisting of ordinary nonlinear differential equations. For this set of differential equations, it is shown that differential flatness properties hold. This enables one to solve the associated control problem and to stabilize the options' dynamics. By showing the feasibility of control of the single-asset (equivalently multi-asset) Black-Scholes PDE, it is proven that through selected purchases and sales during the trading procedure, the price of options can be made to converge and stabilize at specific reference values.
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Pricing Quality of Service in Diffserv IP Networks
The process of allocating tariff, i.e., cost per unit of resource. It is based on particular pricing scheme and controlled by a pricing policy. Static pricing assumes that price is independent on actual network resource utilization. With dynamic pricing, the price is determined as a cost per unit of resource consumption and according to level of QoS guarantees provided for the particular service class.
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Distributed Parameter Systems Control and Its Applications to Financial Engineering
The procedure of defining the price of traded assets, services or commodities. Spot pricing is an on-site agreement about the price of the traded resource based on offer and demand. There can be more elaborated pricing schemes taking place in longer time intervals (trading of financial options or commodities) which apart from offer and demand are also dependent on supporting services and procedures for the trading transaction (e.g. ability to store and transport goods, availability of equipment, credibility of the trading parts etc.).
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Differential Return on Investment Optimization: Pricing, Lotsizing, and Shipment Considerations in a Two-Echelon Supply Chain
The method a company uses to set the price its product. Pricing is one of the four aspects of marketing. The other three parts of the marketing mix are product management, promotion, and distribution.
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The Relationship Between Price Indices and Pricing Methods
The process of determining the price as a result of evaluating the factors affecting the price.
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Price Strategies in a Big Data World
Method to set a selling price. The price mainly depends on demand and supply and can vary through time.
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