A0525
Title: Proxy-aided demand learning with an application on various pricing problems
Authors: Tao Shen - National University of Singapore (China) [presenting]
Yifan Cui - Zhejiang University (China)
Abstract: In data-driven demand learning, understanding customer willingness to pay presents a significant challenge due to the complex interplay between various influencing factors. The multifaceted relationship between quantities like price and sales is addressed, highlighting the difficulties in identifying the causal effect with the existence of unmeasured confounders. To mitigate bias in evaluating pricing decisions, proxy variables are introduced into the demand learning process. Data-driven pricing challenges are explored within a confounded environment, showcasing the practical application of the proposed demand learning process.
