Joint Pricing and Inventory Control under Reference Price Effects
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 f...
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| Үндсэн зохиолч: | |
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| Формат: | Online |
| Хэл сонгох: | англи |
| Хэвлэсэн: |
Peter Lang International Academic Publishers
2021
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| Нөхцлүүд: | |
| Онлайн хандалт: | 1003169 |
| Шошгууд: |
Шошго байхгүй, Энэхүү баримтыг шошголох эхний хүн болох!
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| _version_ | 1869518430641586176 |
|---|---|
| author | Gimpl-Heersink, Lisa |
| author_browse | Gimpl-Heersink, Lisa |
| author_facet | Gimpl-Heersink, Lisa |
| author_sort | Gimpl-Heersink, Lisa |
| collection | Directory of Open Access Books |
| description | 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. |
| format | Online |
| id | doab-20.500.12854ir-37100 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | Peter Lang International Academic Publishers |
| publisherStr | Peter Lang International Academic Publishers |
| record_format | ojs |
| spelling | doab-20.500.12854ir-371002025-01-29T14:19:16Z Joint Pricing and Inventory Control under Reference Price Effects Gimpl-Heersink, Lisa Analytical Analysis Control Dynamic Programming Effects Gimpl Heersink Integrated Pricing and Inventory Models Inventory Joint Price Pricing Reference Stochastic Demand Models under thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV5 Production and quality control management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management 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. 2021-02-10T12:58:18Z 2019-01-10 23:55 2018-12-01 23:55:55 2020-01-14 16:17:45 2020-04-01T11:28:36Z 2018 book 1003169 OCN: 1082958741 http://library.oapen.org/handle/20.500.12657/26874 9783631753804 https://directory.doabooks.org/handle/20.500.12854/37100 eng Forschungsergebnisse der Wirtschaftsuniversitaet Wien open access image/jpeg image/jpeg image/jpeg image/jpeg image/jpeg n/a n/a n/a n/a n/a https://library.oapen.org/bitstream/20.500.12657/26874/1/1003169.pdf https://library.oapen.org/bitstream/20.500.12657/26874/1/1003169.pdf https://library.oapen.org/bitstream/20.500.12657/26874/1/1003169.pdf https://library.oapen.org/bitstream/20.500.12657/26874/1/1003169.pdf https://library.oapen.org/bitstream/20.500.12657/26874/1/1003169.pdf Peter Lang International Academic Publishers 10.3726/b13901 10.3726/b13901 44a712f0-ee17-4c08-a667-46effed595e7 9783631753804 124 Bern open access |
| spellingShingle | Analytical Analysis Control Dynamic Programming Effects Gimpl Heersink Integrated Pricing and Inventory Models Inventory Joint Price Pricing Reference Stochastic Demand Models under thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV5 Production and quality control management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management Gimpl-Heersink, Lisa Joint Pricing and Inventory Control under Reference Price Effects |
| title | Joint Pricing and Inventory Control under Reference Price Effects |
| title_full | Joint Pricing and Inventory Control under Reference Price Effects |
| title_fullStr | Joint Pricing and Inventory Control under Reference Price Effects |
| title_full_unstemmed | Joint Pricing and Inventory Control under Reference Price Effects |
| title_short | Joint Pricing and Inventory Control under Reference Price Effects |
| title_sort | joint pricing and inventory control under reference price effects |
| topic | Analytical Analysis Control Dynamic Programming Effects Gimpl Heersink Integrated Pricing and Inventory Models Inventory Joint Price Pricing Reference Stochastic Demand Models under thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV5 Production and quality control management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management |
| topic_facet | Analytical Analysis Control Dynamic Programming Effects Gimpl Heersink Integrated Pricing and Inventory Models Inventory Joint Price Pricing Reference Stochastic Demand Models under thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV5 Production and quality control management thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJM Management and management techniques::KJMV Management of specific areas::KJMV8 Purchasing and supply management |
| url | 1003169 |
| work_keys_str_mv | AT gimplheersinklisa jointpricingandinventorycontrolunderreferencepriceeffects |