Saturday, January 7, 2017

Optimizing the price beacon

When objects are price beaconed, hey talk to smart cards, and can exchange the suggested price. But we want shop keeper and consumer to be optimum traders, they need to put pricing to the pits.

How can retail bidding be standardized?
In other words, take your card to the store that obeys the rule of fair bidding. In the sandbox we can specify the rules, and the two parties guaranteed to obey.

Pricing is suggested, and modified by color, with amber being the suggested typical price.  Consumers can try and drop the price, but they pay a tiny cycle cost in doing so. The pit boss count cycle income, and lowers price when it accumulates a bit. In other words, with amber set to the typical, the store promises to drive bidding error to zero. But the bit error is readable, customers will flock to a lower price when it is forced upon the shop keeper.

No comments: