Joint Pricing and Inventory Control under Reference Price Effects
- Author/Creator:
- Gimpl-Heersink, Lisa
- Publication/Creation:
- Frankfurt a.M. : Peter Lang GmbH, Internationaler Verlag der Wissenschaften, [2018], ©2010
- Resource Type:
- Book
- Edition:
- 1st, New ed.
More Details
Additional/Related Title Information
- Full Title:
- Joint Pricing and Inventory Control under Reference Price Effects Lisa Gimpl-Heersink
- Series Titles:
- Forschungsergebnisse der Wirtschaftsuniversität Wien ; 33
Forschungsergebnisse der Wirtschaftsuniversität Wien ; Bd. 33
Subjects/Genre
- Genre:
- Electronic books
Academic theses - Subjects:
- Pricing--Mathematical models
Inventory control--Mathematical models
Description/Summary
- Table of Contents:
- Inventory Management -- Pricing -- Reference Price -- Stochastic Demand Model -- Dynamic Programming -- Demand Behaviour -- Models in Operations Research Literature -- Models in Marketing Literature -- Integrated Model with Reference Price Effects -- Numerical Simulations -- Analytical Analysis.
- 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.
- Language:
- English
- Physical Type/Description:
- 1 online resource
- Local Note:
- Available to current Emory faculty, students and staff.
- Biographical/Historical Note:
- The Author: Lisa Gimpl-Heersink, M. Sc. in Technical Mathematics and Ph. D. in Social and Economic Sciences; latest academic working experiences as an Research Assistant at the Vienna University of Economics and Business Administration and subsequently as an Assistant Professor at the University of Vienna; research interests in Operations Research, Supply Chain Management and Risk Management.
Additional Identifiers
- Catalog ID (MMSID):
- 9936875312402486
- ISBN:
- 9783631753804
3631753802 - OCLC Number:
- 1080493704
- Other Identifiers:
- International Article Number: 9783631753804
doi: 10.3726/b13901
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