Learning Optimal Pricing with Reinforcement Learning
Project description Language: Python Working file: Jupyter Notebook Project type: Reinforcement Learning Problem Statement Dynamic pricing is a fundamental problem in economics and operations research. Sellers repeatedly interact with customers whose willingness-to-pay is uncertain. Each round: The seller offers a price from a feasible set (1–100). The customer either accepts or rejects. The seller observes only binary feedback (buy/no-buy). In our environment: Segment Valuation Market share 1 18 0.4 2 43 0.3 3 56 0.2 4 81 0.1 The theoretical optimal price is 43, yielding the maximum expected revenue given the mixture of valuations and probabilities. ...