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We evaluate the effect of competition on prices, profits, and consumers' surplus in multiperiod, finite horizon, dynamic pricing settings. In our base model, a single myopic consumer visits two competing retailers, who offer identical goods, in a (first order Markovian) probabilistic fashion—if the posted price exceeds the consumer's valuation for the good, he returns to the same store in the following period with a certain probability. We find that even a small reduction in the return probability from one—which corresponds to the monopoly case at which prices decline linearly—is sufficient to revert the price decline from a linear into an exponential shape. Each retailer's profit is particularly sensitive to changes in his return probability when it is relatively high, and is maximized under complete loyalty behavior (i.e., return probability is one). On the other hand, consumer surplus is maximized under complete switching behavior (i.e., return probability is zero). In the presence of many similar consumers, the insights remain valid. We further focus on the extreme scenario where all consumers follow a complete switching behavior, to derive sharp bounds, and also consider the instance where, in this setting, myopic consumers are replaced with strategic consumers. © 2011 Wiley Periodicals, Inc. Naval Research Logistics, 2011 相似文献
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We address infinite‐horizon models for oligopolies with competing retailers under demand uncertainty. We characterize the equilibrium behavior which arises under simple wholesale pricing schemes. More specifically, we consider a periodic review, infinite‐horizon model for a two‐echelon system with a single supplier servicing a network of competing retailers. In every period, each retailer faces a random demand volume, the distribution of which depends on his own retail price as well as those charged by possibly all competing retailers. We also derive various comparative statics results regarding the impact several exogenous system parameters (e.g., cost or distributional parameters) have on the equilibrium decisions of the retailers as well as their expected profits. We show that certain monotonicity properties, engrained in folklore as well as in known inventory models for centralized systems, may break down in decentralized chains under retailer competition. Our results can be used to optimize the aggregate profits in the supply chain (i.e., those of the supplier and all retailers) by implementing a specific wholesale pricing scheme. © 2003 Wiley Periodicals, Inc. Naval Research Logistics, 2004. 相似文献
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This article analyzes dual sourcing decisions under stochastically dependent supply and demand uncertainty. A manufacturer faces the trade‐off between investing in unreliable but high‐margin offshore supply and in reliable but low‐margin local supply, where the latter allows for production that is responsively contingent on the actual demand and offshore supply conditions. Cost thresholds for both types of supply determine the optimal resource allocation: single offshore sourcing, single responsive sourcing, or dual sourcing. Relying on the concept of concordance orders, we study the effects of correlation between supply and demand uncertainty. Adding offshore supply to the sourcing portfolio becomes more favorable under positive correlation, since offshore supply is likely to satisfy demand when needed. Selecting responsive capacity under correlated supply and demand uncertainty is not as straightforward, yet we establish the managerially relevant conditions under which responsive capacity either gains or loses in importance. Our key results are extended to the broad class of endogenous supply uncertainty developed by Dada et al. [Manufact Serv Operat Mange 9 (2007), 9–32].© 2012 Wiley Periodicals, Inc. Naval Research Logistics, 2012 相似文献
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Technology products often experience a life‐cycle demand pattern that resembles a diffusion process, with weak demand in the beginning and the end of the life cycle and high demand intensity in between. The customer price‐sensitivity also changes over the life cycle of the product. We study the prespecified pricing decision for a product that exhibits such demand characteristics. In particular, we determine the optimal set of discrete prices and the times to switch from one price to another, when a limited number of price changes are allowed. Our study shows that the optimal prices and switching times show interesting patterns that depend on the product's demand pattern and the change in the customers' price sensitivity over the life cycle of the product. © 2012 Wiley Periodicals, Inc. Naval Research Logistics, 2012 相似文献
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We consider the problem of nonparametric multi-product dynamic pricing with unknown demand and show that the problem may be formulated as an online model-free stochastic program, which can be solved by the classical Kiefer-Wolfowitz stochastic approximation (KWSA) algorithm. We prove that the expected cumulative regret of the KWSA algorithm is bounded above by where κ1, κ2 are positive constants and T is the number of periods for any T = 1, 2, … . Therefore, the regret of the KWSA algorithm grows in the order of , which achieves the lower bounds known for parametric dynamic pricing problems and shows that the nonparametric problems are not necessarily more difficult to solve than the parametric ones. Numerical experiments further demonstrate the effectiveness and efficiency of our proposed KW pricing policy by comparing with some pricing policies in the literature. 相似文献
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针对原来的基于时间和基于流量的计费模式在实时多媒体业务中显现出来的弊端,提出了一种基于QoS的网络计费模式,并介绍了在小区宽带接入系统中的实现,给出了这种计费模式的策略和主要数据结构. 相似文献
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假设市场为无套利市场,而且市场上只有两种证券:一种是无风险债券;一种是有风险的股票。通过自筹资策略,得到期权价格所满足的倒向随机微分方程(BSDE),利用倒向随机微分方程给出欧式期权价格概率表示;并证明欧式期权的完全套期保值性。 相似文献
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承包商的努力程度直接决定了装备的制造成本。为有效激励承包商降低装备制造成本,提高装备采购效益,基于里昂惕夫劳资博弈模型建立了成本分担定价方式的装备采购博弈模型。并在承包商边际效用非线性和定价方式多变量的假设基础上,分别对价格、成本、承包商努力程度和承包商效用之间的关系进行了研究,对原模型进行了拓展,为定价方式中参数的确定提供了量化方法。 相似文献