Interpretable Price Bounds Estimation with Shape Constraints in Price Optimization

This study addresses the interpretable estimation of price bounds in the context of price optimization. In recent years, price-optimization methods have become indispensable for maximizing revenue and profits. However, effective application of these methods to real-world pricing operations remains a significant challenge. It is crucial for operators responsible for setting prices to utilize reasonable price bounds that are not only interpretable but also acceptable. Despite this necessity, most ...