Walmart Inc.
Systems and methods for dynamic pricing
Last updated:
Abstract:
Systems and methods can include one or more processing modules and one or more non-transitory storage modules storing computing instructions configured to run on the one or more processing modules and perform acts of: estimating demand for one or more items in an electronic basket of items using one or more different demand models; estimating elasticity for the one or more items in the electronic basket of items using a multi-armed bandit model; determining a price using the demand and the elasticity; and facilitating display of the price on a video screen of a device. Other embodiments are disclosed herein.
Status:
Grant
Type:
Utility
Filling date:
27 Nov 2018
Issue date:
30 Aug 2022