We present a laboratory experiment on the impact of price framing on consumer decision making. Consumer subjects face a search market where two sellers offer a homogeneous good. We examine six different price frames with linear perunit pricing (that is displayed as such) serving as a benchmark. We find that all frames deviating from the benchmark have some negative impact on consumer decision m...

Dual-channel not only provides reasonable products but also a large quantity of opportunities, where the members’ attitude towards risk has a major impact on channel optimization. In this paper, risks are classified as general risk and interruption risk. As for general risk, combined with risk-aversion attitude, mean-variance method is used to build optimal pricing model and expected utility mo...

Data Envelopment Analysis (DEA) is an appropriate tool for estimating various types of efficiency including Cost Efficiency (CE). Identifying and identifying inefficiency resources plays an important role in analyzing unit performance in order to plan for improving the status of Decision Making Units (DMUs). Now , if information on the inputs and outputs and pricing information of the evaluated...

In this paper, an incentive policy is proposed to coordinate ordering, lead time, and pricing strategies in a two-echelon manufacturing supply chain (SC) consisting of one manufacturer and one retailer. The system is faced with a stochastic demand which depends on both price and lead time. The manufacturer decides on production size and manufacturing acceleration rate while the retailer determi...

Multistage stochastic programming is a key technology for making decisions over time in an uncertain environment. One of the promising areas in which this technology is implementable, is medium term planning of electricity production and trading where decision makers are typically faced with uncertain parameters (such as future demands and market prices) that can be described by stochastic proc...

While pricing decisions that are based on experience are quite common, e.g., setting a selling price for a used car, this type of decision has been surprisingly overlooked in psychology and decision research. Previous studies have focused on either choice decisions from experience, or pricing decisions from description. Those studies revealed that pricing involves cognitive mechanisms other tha...

Pricing is one of the major aspects of decision making in supply chain. In the previous works mostly a centralized environment is considered indicating the retailers cannot independently apply their decisions on the pricing strategy. Although in a two-echelon decentralized environment it may be possible that supply chain contributors have encountered with different market power situations which...