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This paper presents the results of the Dynamic Pricing Challenge, held on theoccasion of the 17th INFORMS Revenue Management and Pricing Section Conferenceon June 29-30, 2017 in Amsterdam, The Netherlands. For this challenge,participants submitted algorithms for pricing and demand learning of which thenumerical performance was analyzed in simulated market environments. Thisallows consideration of market dynamics that are not analytically tractable orcan not be empirically analyzed due to practical complications. Our findingsimplicate that the relative performance of algorithms varies substantiallyacross different market dynamics, which confirms the intrinsic complexity ofpricing and learning in the presence of competition.

Dynamic Pricing and Learning with Competition: Insights from the Dynamic Pricing Challenge at the 2017 INFORMS RM & Pricing Conference