REACTIVE COMPETITOR PRICE DETERMINATION USING A COMPETITOR RESPONSE MODEL

摘要

Embodiments of the present invention relate to apparatuses, systems, methods, and computer program products for determining competitor prices. In one embodiment, a system comprises a processor configured to: (a) receive information identifying pricing strategy for each of the plurality of entities, where the pricing strategy comprises at least one variable for a price selection method; (b) randomly generate initial values for the at least one variable for the price selection method to thereby generate a plurality of pricing strategies; (c) determine a value of fitness for each of the plurality of pricing strategies; (d) select pricing strategies from among the plurality of pricing strategies having a value of fitness that satisfy a predetermined criteria; (e) use a genetic algorithm to randomly modify a portion of the initial values for the at least one price selection method; and (f) determine that the plurality of pricing strategies is satisfactory.