Joint Inventory and Pricing Decisions for an Assortment
成果类型：
Article
署名作者：
Aydin, Goker; Porteus, Evan L.
署名单位：
University of Michigan System; University of Michigan; Stanford University
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.1080.0562
发表日期：
2008
页码：
1247-1255
关键词：
摘要：
We seek optimal inventory levels and prices of multiple products in a given assortment in a newsvendor model (single period, stochastic demand) under price-based substitution, but not stockout-based substitution. We address a demand model involving multiplicative uncertainty, motivated by market share models often used in marketing. The pricing problem that arises is known not to be well behaved in the sense that, in its deterministic version, the objective function is not jointly quasi-concave in prices. However, we find that the objective function is still reasonably well behaved in the sense that there is a unique solution to the first-order conditions, and this solution is optimal for our problem.