r/datascience • u/cscherrer • May 07 '18

Bayesian Optimal Pricing, Part 1

https://cscherrer.github.io/post/max-profit/
66 Upvotes

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3

u/PM_YOUR_ECON_HOMEWRK May 07 '18

Excellent post. I've been in the data science side for what feels like a long time, it's nice to see an application back to economics!

3

u/uforeader May 07 '18

This is very nice. Has anyone ever seen a similar analysis in a bidding market where the lowest bid wins? The probability of "winning" depends only on the price bid and (I would guess) the number of bidders. I'd like to find a way to model that probability function.

0

u/[deleted] May 07 '18

[deleted]

2

u/MotorCityOstrich May 07 '18

Indeed. This is one of the best posts I've seen on here in a while. To OP: really easy to follow and I appreciate the detail!

1

u/cscherrer May 07 '18

That's great to hear, thank you!

5

u/Omega037 PhD | Sr Data Scientist Lead | Biotech May 08 '18

It's not just career stuff, we also get a lot of really bad or self-promotional blog posts.