UID:
almahu_9948168435302882
Umfang:
1 online resource
Ausgabe:
1st, New ed.
ISBN:
9783631753804
Serie:
Forschungsergebnisse der Wirtschaftsuniversität Wien 33
Inhalt:
In this work, we address the problem of simultaneously determining a pricing and inventory replenishment strategy under reference price effects. This reference price effect models the fact that consumers not only react sensitively to the current price, but also to deviations from a reference price formed on the basis of past purchases. Immediate effects of price reductions on profits have to be weighted against the resulting losses in future periods. By providing an analytical analysis and numerical simulations we study how the additional dynamics of the consumers’ willingness to pay affect an optimal pricing and inventory control model and whether a simple policy such as a base-stock-list-price policy holds in such a setting.
Anmerkung:
Doctoral Thesis
,
Contents: Inventory Management – Pricing – Reference Price – Stochastic Demand Model – Dynamic Programming – Demand Behaviour – Models in Operations Research Literature – Models in Marketing Literature – Integrated Model with Reference Price Effects – Numerical Simulations – Analytical Analysis.
Weitere Ausg.:
ISBN 9783631589137
Sprache:
Englisch
URL:
https://www.peterlang.com/view/product/63758?format=EPDF
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