Asia pacific journal of information systems

The Korea Society of Management Information Systems (한국경영정보학회)
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Smart Pricing in Action: The Case of Asset Pricing for a Rent-a-Car Company

  • Chang Hee Han (College of Business and Economics, Hanyang University) ;
  • Seongmin Jeon (College of Business, Gachon University) ;
  • Sangchun Shim (College of Business and Economics, Hanyang University) ;
  • Byungjoon Yoo (College of Business Administration, Seoul National University)
  • Received : 2019.03.19
  • Accepted : 2019.08.29
  • Published : 2019.12.31
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Abstract

The Internet enables businesses to acquire a great deal of information, including prices in the open markets. In this study, we investigate what the value of reference price information is to a company in the market and how the company can make use of such information. Using business analytics, we were able to estimate prices of used cars for a rent-a-car company. The results show that a smart pricing information system is useful for collecting online reference price information and for estimating future prices of used cars and rental prices.

Keywords

Acknowledgement

The authors are thankful for the support by the Institute of Management Research at Seoul National University.

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