Dynamic Pricing for Perishable Products with Control of Cancellation Demands and Strategic Consumer
نویسندگان
چکیده
منابع مشابه
Strategic Consumer Response to Dynamic Pricing of Perishable Products
Dynamic pricing is a standard practice that sellers use for revenue management. With the vast availability of pricing and inventory data on the Internet, it is possible for consumers to become aware of the pricing strategies used by sellers and to develop strategic responses. In this paper, we study the strategic response of consumers to dynamic prices for perishable products. As price fluctuat...
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Yalçın Akçay College of Administrative Sciences and Economics, Koç University, Rumeli Feneri Yolu, Istanbul, Turkey, 34450, [email protected] Harihara Prasad Natarajan Department of Management, School of Business Administration, University of Miami, Coral Gables, FL 33124, [email protected] Susan H. Xu Department of Supply Chain and Information Systems, Smeal College of Business, Penn State Univers...
متن کاملDynamic Pricing of Perishable Products under Consumer Factor
With effect of consumer factor considered, a model for dynamic pricing of perishable products is proposed. By this model, we obtained a property of the value function: marginal value is a decreasing function of the capacity and an increasing function of the consumer factor. Basing on this property, we proposed the following pricing strategy: according to the regions that the perishable products...
متن کاملDynamic Pricing of Perishable Products with Competition
With the development of product development technology and the rapid rise of online retailing, the market competition becomes increasingly fierce. Based on consumer utility function, this article established a two-stage dynamic pricing model and discussed pricing strategies under consumer behavior and market competition. Findings indicate that product quality difference and consumer valuation d...
متن کاملDynamic Pricing for Perishable Products with Cancelations and No-shows
Abstract Assume that customers are price sensitive, changes in the price of perishable products will bring changes in demand, and business can adjust the perishable products' price to influence the market demand, a perishable products multi-stage pricing model considering cancelations and no-shows is proposed, and the optimal pricing, the optimal expected revenue with the products' initial quan...
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ژورنال
عنوان ژورنال: Open Journal of Social Sciences
سال: 2016
ISSN: 2327-5952,2327-5960
DOI: 10.4236/jss.2016.47001