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This paper is about an optimal pricing control under a Markov chain model. The objective is to dynamically adjust the product price over time to maximize a discounted reward function. It is shown that the optimal control policy is of threshold type. Closed-form solutions are obtained. A numerical example is also provided to illustrate our results.
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The availability of large linguistic data sets enables data-driven approaches to study linguistic change. This work explores the word rank dynamics of eight languages by investigating the Google Books corpus unigram frequency data set. We observed the rank changes of the unigrams from 1900 to 2008 and compared it to a Wright-Fisher inspired model t...