Reference price framework

Details Reference price framework Reference price framework

2011-05-17

2011-05-17

Patel, Jagdish N (Department: 3693)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S026640

Reexamination Certificate

active

07945496

ABSTRACT:
A method of computer-assisted price modeling is provided, which uses a reference price to assist in evaluating discretionary pricing of transactional services provided (i) by a professional among his own transactions or (ii) by a target professional among others' transactions. A universe of pricing episode data is segmented into groupings based on price predictive parameters. These data are then arranged in each grouping according to price. A reference price is determined within each grouping based on a predetermined level, rank or percentile. This reference price can then be used to evaluate the pricing episode data and provide various calculations or comparisons, including the revenue opportunity that could have been obtained by pricing at the reference price.

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