Application of reinforcement learning in an open railway access market price negotiation
Wong, Shun K., Tsang, Chi W., & Ho, Tin Kin (2008) Application of reinforcement learning in an open railway access market price negotiation. In IEEE International Conference on Systems, Man and Cybernetics, 2008. SMC 2008., IEEE, Singapore, pp. 2309-2314.
In an open railway access market price negotiation, it is feasible to achieve higher cost recovery by applying the principles of price discrimination. The price negotiation can be modeled as an optimization problem of revenue intake. In this paper, we present the pricing negotiation based on reinforcement learning model. A negotiated-price setting technique based on agent learning is introduced, and the feasible applications of the proposed method for open railway access market simulation are discussed.
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