This paper uses a unique data set of monthly new vehicle sales by detailed model from 19782007, and implements a new identification strategy to estimate the effect of the price of gasoline on consumer demand for fuel economy. We control for unobserved vehicle and consumer characteristics by using within model-year changes in the price of gasoline and vehicle sales. We find a significant demand ...

this study aims to estimate the function of copper consumption using the johansen approach in time series data, between 1991-2011 in iran. the literature review of specialized consumption and demand functions shows factors influencing the consumption of copper including copper price variables, aluminum price as a substitute commodity, oil price as a complementary commodity, and industrializatio...

The e-book market has been rapidly growing in recent years due to developments in technology and the widespread use of mobile devices such as smart phones and tablet PCs. Although an e-book serves as a nearly perfect substitute for its corresponding paper book in respect of contents, it has many differences regarding cost structure and consumers’ acceptance. Therefore, setting an appropriate pr...

Trade credit is generally used by businesses to obtain external funds. This article demonstrates an inventory system from the retailer’s point of view in which (1) influence trade on expanding small and their consumers focus this research, (2) on-hand follows non-instantaneous deterioration. (3) To maximize profit, demand disclosed, based not just sales price, but also cumulative demand, indica...

We discuss some of the practical and ethical questions that may arise for a jurisdiction where a sinking lid endgame strategy for tobacco supply is implemented. Such a strategy would involve regular required reductions in the amount of tobacco released to the market for sale, sufficient to achieve the desired level of commercial sales by a target date. Tobacco manufacturers would periodically b...

Uncertainty modeling is a challenging topic in supply chain and operation management. When planning material purchase and stock levels, demand uncertainty could have an important impact on the plan results and its feasibility. Additionally, uncertainty could greatly affect customer satisfaction, inventory costs and company profits. From a modeling perspective, problems considering uncertainty a...

We propose a modeling and optimization framework to cast a broad range of fundamental multiproduct pricing problems as tractable convex optimization problems. We consider the basic setting of a retailer offering an assortment of differentiated substitutable products to a population of customers that are price-sensitive. The retailer selects prices to maximize profits, subject to constraints on ...

The goal of price optimization is to maximize total revenue by adjusting the prices of products, on the basis of predicted sales numbers that are functions of pricing strategies. Recent advances in demand modeling using machine learning raise a new challenge in price optimization, i.e., how to manage statistical errors in estimation. In this paper, we show that uncertainty in recently-proposed ...

This paper models the price and income elasticity of retail finance in Australia using aggregate quarterly data and an autoregressive distributed lag (ARDL) approach. We particularly focus on the impact of the global financial crisis (GFC) from 2007 onwards on retail finance demand and analyse four submarkets (period analysed in brackets): owneroccupied housing loans (Sep 1985–June 2010), term ...

I n many industries, managers face the problem of selling a given stock of items by a deadline. We investigate the problem of dynamically pricing such inventories when demand is price sensitive and stochastic and the firm's objective is to maximize expected revenues. Examples that fit this framework include retailers selling fashion and seasonal goods and the travel and leisure industry, which ...