Şen, A.2016-02-082016-02-0820130167-6377http://hdl.handle.net/11693/20853We consider the problem of selling a fixed stock of items over a finite horizon when the buyers arrive following a Poisson process. We obtain a general lower bound on the performance of using a fixed price rather than dynamically adjusting the price. The bound is 63.21% for one unit of inventory, and it improves as the inventory increases. For the one-unit case, we also obtain tight bounds: 89.85% for the constant-elasticity and 96.93% for the linear price-response functions.EnglishDynamic pricingHeuristicsRevenue managementYield managementFinite horizonsPerformance boundsPoisson processPrice-response functionsArticle10.1016/j.orl.2013.06.0131872-7468