Method and apparatus for determining prices that maximize revenue
US7200579B2 · kind B2 · utility
1Cited by
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20Claims
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Key dates
| Filing date | Jan 2, 2002 |
| Grant date | Apr 3, 2007 |
| Priority date | — |
| Expiry date | Oct 5, 2024 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0283
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and apparatus for determining one or more prices that maximizes revenue for a given demand curve. For determining a single price that maximizes revenue, a geometric analysis of the demand curve is used to find a price that gives a first angle that is equal to a second angle. The first [103] and second [104] angles are calculated using a tangent line that is tangent to the demand curve at the price and reference lines that pass through the demand curve at the price. When the first angle is equal to the second angle [105], the determined price optimizes revenue for the product represented by the demand curve.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.