Dynamic Pricing Models and Negotiating Agents: Developments in Management Accounting

Edgard Bruno Cornacchione, Luciane Reginato, Joshua Onome Imoniana () and Marcelo Souza
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Edgard Bruno Cornacchione: School of Economics, Management and Accounting, University of Sao Paulo, Prof Luciano Gualberto Ave 908, Sao Paulo 05508-010, Brazil
Luciane Reginato: School of Economics, Management and Accounting, University of Sao Paulo, Prof Luciano Gualberto Ave 908, Sao Paulo 05508-010, Brazil
Joshua Onome Imoniana: School of Economics, Management and Accounting, University of Sao Paulo, Prof Luciano Gualberto Ave 908, Sao Paulo 05508-010, Brazil
Marcelo Souza: FIPECAFI (A Fundação Instituto de Pesquisas Contábeis, Atuariais e Financeiras), R. Maestro Cardim 1170, Bela Vista, Sao Paulo 01323-001, Brazil

Administrative Sciences, 2023, vol. 13, issue 2, 1-16

Abstract: Linking decision systems, negotiating agents, management accounting, and computational accounting, this paper aims at exploring dynamic pricing strategies of a synthetic business-to-consumer online operation and a comparative analysis of evolving strategy-specific pricing optimization. Five price models based on market, utility, or demand information (three single and two combined), merging online and offline data, are explored over a seven-day period and with twenty selected products. A total of 17,529 website visits and 538 agent negotiations are studied (94,607 main data points) using a Python solution, with model simulation parameters and assumptions described. Findings show the combined market-utility-demand performance of dynamic pricing to be superior as an input to the negotiating agent. Contributions are threefold, pointing to (a) management accounting practice and research (dynamic pricing), (b) science and research strategy (method), and (c) accounting education (skill set).

Keywords: dynamic pricing; negotiating agents; management accounting; computational accounting approach; data analytics; revenue management; buyer behavior; business-to-consumer (search for similar items in EconPapers)
JEL-codes: L M M0 M1 M10 M11 M12 M14 M15 M16 (search for similar items in EconPapers)
Date: 2023
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