Joint pricing and inventory control under reference price effects /

Saved in:

Bibliographic Details
Author / Creator:	Gimpl-Heersink, Lisa.
Imprint:	Bern : Peter Lang International Academic Publishers, 2018.
Description:	1 online resource (124 pages)
Language:	English
Subject:	Pricing -- Mathematical models. Inventory control -- Mathematical models. Inventory control -- Mathematical models. Pricing -- Mathematical models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/13420738

Hidden Bibliographic Details
ISBN:	9783631589137 3631589131 3631753802 9783631753804
Notes:	English.
Summary:	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.
Other form:	3631589131
Standard no.:	10.3726/b13901

Similar Items