Weight function optimization of dynamic pricing profit for perishable product: Considering leftovers and salvage value A. V. Kitaeva, Y. Cao
Material type:![Article](/opac-tmpl/lib/famfamfam/AR.png)
Библиогр.: 4 назв.
We consider a single product under a finite time horizon and a non-homogeneous compound Poisson customers flow with a rate depending on the stock level and an unknown time-dependent weight function. The rate is controlled by a retail price. In the framework of the diffusion approximation of the stock level process and a linear representation of an intensity-of-price dependence. Considering the salvage value of product, we solve the task of the expected profit maximization with respect to the weight function and lot size. We propose a simple approximation of the optimal weight function
There are no comments on this title.