Profit optimization with a power-law adjustable coefficient for zero ending inventories dynamic pricing model, stochastic demand, and fixed lifetime product A. V. Kitaeva, N. V. Stepanova, O. I. Zhukovskiy
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ArticleContent type: Текст Media type: электронный Subject(s): динамическое ценообразование | чувствительность к цене | диффузионное приближение | цены на основе даты истечения срока действия | скоропортящиеся продукты | покупательский потокGenre/Form: статьи в журналах Online resources: Click here to access online
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IFAC-PapersOnLine Vol. 55, № 10. P. 1793-1797Abstract: We consider a single product with a fixed lifetime and price sensitive intensity of a Poisson customers flow. A model with a power adjustable coefficient of a dynamic retail price control through the intensity of the demand is considered providing almost surely zero ending inventories at the end of the product's lifetime. To obtain probabilistic characteristics of the selling process and the expected profit, the diffusion approximation of the stock level process is used. The task of the expected profit maximization with respect to the adjustable coefficient for a linear approximation of the intensity-ofprice dependence is solved. Copyright (C) 2022 The Authors.
Библиогр.: с. 1797
We consider a single product with a fixed lifetime and price sensitive intensity of a Poisson customers flow. A model with a power adjustable coefficient of a dynamic retail price control through the intensity of the demand is considered providing almost surely zero ending inventories at the end of the product's lifetime. To obtain probabilistic characteristics of the selling process and the expected profit, the diffusion approximation of the stock level process is used. The task of the expected profit maximization with respect to the adjustable coefficient for a linear approximation of the intensity-ofprice dependence is solved. Copyright (C) 2022 The Authors.
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