TY  - THES
TY  - GEN
T1  - Joint Pricing and Inventory Control under Reference Price Effects
T2  - Forschungsergebnisse der Wirtschaftsuniversität Wien ;
A1  - Gimpl-Heersink, Lisa,
LA  - English
PP  - Frankfurt a.M.
PB  - Peter Lang GmbH, Internationaler Verlag der Wissenschaften
YR  - 2018
ED  - 1st, New ed
UL  - http://discoverylib.upm.edu.my/discovery/Record/599536
AB  - 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
CN  - HF5416.5
SN  - 9783631753804
SN  - 3631753802
KW  - Pricing : Mathematical models.
KW  - Inventory control : Mathematical models.
KW  - Electronic books
KW  - Academic theses.
ER  -