Dynamic Stochastic Inventory Management with Reference Price Effects
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چکیده
منابع مشابه
Dynamic Stochastic Inventory Management with Reference Price Effects
We analyze the joint inventory and pricing decisions of a firm when demand depends on not only the current selling price but also a memory-based reference price and customers are loss averse. The presence of reference price effect leads to a non-concave one-period expected revenue in price and reference price. We introduce a transformation technique that allows us to prove under some mild assum...
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Generally ordering policies are done by two methods, including fix order quantity (FOQ) and fix order period (FOP). These methods are static and either the quantity of ordering or the procedure of ordering is fixing in throughout time horizon. In real environments, demand is varying in any period and may be considered as uncertainty. When demand is variable in any period, the traditional and st...
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Zhenyu Hu Department of Industrial Enterprise and Systems Engineering, University of Illinois at Urbana-Champaign, Urbana, Illinois 61801, [email protected] Xin Chen Department of Industrial Enterprise and Systems Engineering, University of Illinois at Urbana-Champaign, Urbana, Illinois 61801, [email protected] Peng Hu School of Management, Huazhong University of Science and Technology, Wuha...
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Many extension of the newsboy problem have been solved in the literature. One of those extensions solves a newsboy problem with stochastic initial inventory, earlier extensions have focused on quantity discounts offered by suppliers. An important practical extension would address a combination of the two pervious extensions. In this paper we consider a newsboy problem in which the suppliers off...
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ژورنال
عنوان ژورنال: Operations Research
سال: 2016
ISSN: 0030-364X,1526-5463
DOI: 10.1287/opre.2016.1524