Simple Economics of the Price-Setting Newsvendor Problem

• 成果类型: Article
• 署名作者: Salinger, Michael; Ampudia, Miguel
• 署名单位: Boston University; Boston University
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.1110.1388
• 发表日期: 2011
• 页码: 1996-1998
• 关键词: cost analysis; inventory/production; perishable/aging items; uncertainty; Marketing; pricing

摘要

The Lerner relationship linking the profit-maximizing price to marginal cost and the elasticity of demand generalizes to the price-setting newsvendor, and the result resolves the puzzle over the different effects of additive and multiplicative uncertainty on the solution. Multiplicative uncertainty increases the optimal price because it increases the marginal cost of a unit sold and does not affect the markup factor. Additive uncertainty has no effect on the marginal cost of a unit sold and lowers the markup factor because it increases the elasticity of the average quantity sold with respect to price.