منابع مشابه
Style goods pricing with demand learning
For many industries (e.g., apparel retailing) managing demand through price adjustments is often the only tool left to companies once the replenishment decisions are made. A significant amount of demand uncertainty can be resolved using the early sales information. In this study, a Bayesian approach is used to summarize sales information and pricing history in an efficient way which then feeds ...
متن کاملStyle Goods Pricing with Competition
We study timing decisions for price change of style goods in the existence of competition. We model as a duopoly two firms which are selling their fixed stocks of an item in a given period of time. Our model differs from existing single-firm inventory models in that we explicitly consider the demand interactions through pricing decisions by two competing firms. Each firm starts with the same in...
متن کاملDynamic pricing of experience goods with learning
We develop a dynamic pricing model of experience good between one seller and one buyer. The buyer can learn about how the product fits him by consumption. We characterize a class of equilibria in which the seller o↵ers low price to induce learning in the earlier period, followed by high price to extract the consequence of learning in the later period. Moreover, we show that shorter contract dur...
متن کاملAssortment and Pricing with Demand Learning
Retailers, from fashion stores to grocery stores, have to decide what range of products to offer (assortment planning) and what prices to charge (price optimization). New business trends, such as mass customization and shorter product life cycles, make predicting demand more difficult, which in turn complicates assortment planning and price optimization. We propose and study a stochastic dynami...
متن کاملDynamic pricing with real-time demand learning
In many service industries, the firm adjusts the product price dynamically by taking into account the current product inventory and the future demand distribution. Because the firm can easily monitor the product inventory, the success of dynamic pricing relies on an accurate demand forecast. In this paper, we consider a situation where the firm does not have an accurate demand forecast, but can...
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ژورنال
عنوان ژورنال: European Journal of Operational Research
سال: 2009
ISSN: 0377-2217
DOI: 10.1016/j.ejor.2008.05.002