Efficiency and complexity of price competition among single-product vendors

13 Feb 2015Ioannis CaragiannisXenophon ChatzigeorgiouPanagiotis KanellopoulosGeorge A. KrimpasNikos ProtopapasAlexandros A. Voudouris

Motivated by recent progress on pricing in the AI literature, we study marketplaces that contain multiple vendors offering identical or similar products and unit-demand buyers with different valuations on these vendors. The objective of each vendor is to set the price of its product to a fixed value so that its profit is maximized... (read more)

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