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.
eBook - PDF
Joint Pricing and Inventory Control under Reference Price Effects (Volume 33.0)
- 130 pages
- English
- PDF
- Available on iOS & Android
eBook - PDF
Joint Pricing and Inventory Control under Reference Price Effects (Volume 33.0)
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Information
Topic
BetriebswirtschaftSubtopic
OperationsTable of contents
- Cover
- 1. Introduction
- 2. Models in Operations Research Literature
- 3. Models in Marketing Literature
- 4. Integrated Model with Reference Price Effects
- 5. Analytical Analysis of the Integrated Model
- 6. Simulations and Numerical Investigations
- 7. Summary, Conclusion and Future Research
- A. Auxiliary Calculations
- Bibliography
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Yes, you can access Joint Pricing and Inventory Control under Reference Price Effects (Volume 33.0) by Lisa Gimpl-Heersink in PDF and/or ePUB format, as well as other popular books in Betriebswirtschaft & Operations. We have over 1.5 million books available in our catalogue for you to explore.