{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,17]],"date-time":"2026-01-17T11:02:10Z","timestamp":1768647730515,"version":"3.49.0"},"reference-count":31,"publisher":"World Scientific Pub Co Pte Lt","issue":"02","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Asia Pac. J. Oper. Res."],"published-print":{"date-parts":[[2020,4]]},"abstract":"<jats:p> Recent developments of information technology have increased market\u2019s competitive pressure and products\u2019 prices turned to be paramount factor for customers\u2019 choices. These challenges influence traditional revenue management models and force them to shift from quantity-based to price-based techniques and incorporate individuals\u2019 decisions within optimization models during pricing process. Multinomial logit model is the simplest and most popular discrete choice model, which suffers from an independence of irrelevant alternatives limitation. Empirical results demonstrate inadequacy of this model for capturing choice probability in the itinerary share models. The nested logit model, which appeared a few years after the multinomial logit, incorporates more realistic substitution pattern by relaxing this limitation. In this paper, a model of game theory is developed for two firms which customers choose according to the nested logit model. It is assumed that the real-time inventory levels of all firms are public information and the existence of Nash equilibrium is demonstrated. The firms adapt their prices by market conditions in this competition. The numerical experiments indicate decreasing firm\u2019s price level simultaneously with increasing correlation among alternatives\u2019 utilities error terms in the nests. <\/jats:p>","DOI":"10.1142\/s0217595920500086","type":"journal-article","created":{"date-parts":[[2020,4,21]],"date-time":"2020-04-21T06:41:16Z","timestamp":1587451276000},"page":"2050008","source":"Crossref","is-referenced-by-count":5,"title":["Pricing Competition Under Specific Discrete Choice Models"],"prefix":"10.1142","volume":"37","author":[{"given":"Farhad","family":"Etebari","sequence":"first","affiliation":[{"name":"Faculty of Industrial and Mechanical Engineering, Qazvin Branch, Islamic Azad University, Qazvin, Iran"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"219","published-online":{"date-parts":[[2020,3,16]]},"reference":[{"key":"S0217595920500086BIB001","doi-asserted-by":"publisher","DOI":"10.1016\/S0969-6997(97)82787-1"},{"key":"S0217595920500086BIB002","volume-title":"Discrete 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