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BB-122 Commodity Optimization Loop v05

[Building Blocks] BB-122 Commodity Optimization Loop with Meta Nodes
Building Blocks (BB-122) - Commodity Optimization LoopTwo Competitors are trying to simultaneously find the Revenue Maximizing Price.Unfortunately, as the Product is an undifferentiated commodity, the Competitiondrives Price to Marginal Cost.Starting with the first Competitor, Spacely Sprockets, the Loop checks whetherraising or lowering the Price by 10% increases Revenue. The Loop continues untilno further improvement is possible. These Prices are then pushed out into theMarket.Then the second Competitor, Cogswell Cogs, reviews the Price set by the first thenalso decides whether raising or lowering the Price by 10% increases Revenue.See also: Building Blocks (BB-113) Commodity Competitive Loop Two Inner LoopsEach within the Meta NodesPrice Action / Reaction by Spacely Sprocketsthen by Cogswell Cogs.Price Experiment = 10%Inner Loop Iterations = 10 Outer LoopPrice Action / Reaction by Spacely Sprockets then by Cogswell CogsIterations = 5Chart Customer WTPas a HistogramCurrentMarket ConditionsCompetitiveRivalsProductArrayWillingnessTo Pay (WTP)of CustomersSpacely SprocketsSet RevenueMaximizing PriceCogswell CogsSet RevenueMaximizing PriceOuter LoopStartOuter LoopEndSpacely SprocketsDemand CurveSort by IterationDescendingGet LastPricesCogswellCogsSpacelySprocketsPricePriceSpacelySprocketsPriceCogswellCogsPricePriceTrendPriceTrend Histogram Chart(JFreeChart) Simulate Market Table Creator Product Generator CustomerDistributions Price Optimize Price Optimize RecursiveLoop Start Recursive Loop End Profit Engine Sorter Row Filter Row Filter Row Filter Column Filter Column Filter Column Rename Column Rename Line Chart(JFreeChart) Column Appender Building Blocks (BB-122) - Commodity Optimization LoopTwo Competitors are trying to simultaneously find the Revenue Maximizing Price.Unfortunately, as the Product is an undifferentiated commodity, the Competitiondrives Price to Marginal Cost.Starting with the first Competitor, Spacely Sprockets, the Loop checks whetherraising or lowering the Price by 10% increases Revenue. The Loop continues untilno further improvement is possible. These Prices are then pushed out into theMarket.Then the second Competitor, Cogswell Cogs, reviews the Price set by the first thenalso decides whether raising or lowering the Price by 10% increases Revenue.See also: Building Blocks (BB-113) Commodity Competitive Loop Two Inner LoopsEach within the Meta NodesPrice Action / Reaction by Spacely Sprocketsthen by Cogswell Cogs.Price Experiment = 10%Inner Loop Iterations = 10 Outer LoopPrice Action / Reaction by Spacely Sprockets then by Cogswell CogsIterations = 5Chart Customer WTPas a HistogramCurrentMarket ConditionsCompetitiveRivalsProductArrayWillingnessTo Pay (WTP)of CustomersSpacely SprocketsSet RevenueMaximizing PriceCogswell CogsSet RevenueMaximizing PriceOuter LoopStartOuter LoopEndSpacely SprocketsDemand CurveSort by IterationDescendingGet LastPricesCogswellCogsSpacelySprocketsPricePriceSpacelySprocketsPriceCogswellCogsPricePriceTrendPriceTrendHistogram Chart(JFreeChart) Simulate Market Table Creator Product Generator CustomerDistributions Price Optimize Price Optimize RecursiveLoop Start Recursive Loop End Profit Engine Sorter Row Filter Row Filter Row Filter Column Filter Column Filter Column Rename Column Rename Line Chart(JFreeChart) Column Appender

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Created by: Berlin
Created at: 2018-05-21
On NodePit since: 2021-02-05
Last update: 2024-12-17
Created with KNIME version: v4.3.0

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