Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/7643
DC Field | Value | Language |
---|---|---|
dc.contributor | Institute of Textiles and Clothing | - |
dc.contributor | Department of Logistics and Maritime Studies | - |
dc.creator | Guo, P | - |
dc.creator | Lian, Z | - |
dc.creator | Wang, Y | - |
dc.date.accessioned | 2015-11-10T08:33:07Z | - |
dc.date.available | 2015-11-10T08:33:07Z | - |
dc.identifier.issn | 0269-9648 | - |
dc.identifier.uri | http://hdl.handle.net/10397/7643 | - |
dc.language.iso | en | en_US |
dc.publisher | Cambridge University Press | en_US |
dc.rights | © Cambridge University Press 2011 | en_US |
dc.rights | The following article "Pengfei Guo, Zhaotong Lian and Yulan Wang (2011). PRICING PERISHABLE PRODUCTS WITH COMPOUND POISSON DEMANDS. Probability in the Engineering and Informational Sciences, 25, pp 289-306. doi:10.1017/S0269964811000027." is available at http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8310192 | en_US |
dc.subject | Revenue management | en_US |
dc.subject | Dynamic pricing | en_US |
dc.subject | Perishable inventory | en_US |
dc.subject | Level-crossing | en_US |
dc.title | Pricing perishable products with compound poisson demands | en_US |
dc.type | Journal/Magazine Article | en_US |
dc.identifier.spage | 289 | - |
dc.identifier.epage | 306 | - |
dc.identifier.volume | 25 | - |
dc.identifier.issue | 3 | - |
dc.identifier.doi | 10.1017/S0269964811000027 | - |
dcterms.abstract | We consider the dynamic pricing problem of perishable products in a system with a constant production rate. Potential demands arrive according to a compound Poisson process, and are price-sensitive. We carry out the sample path analysis of the inventory process and by using level-crossing method, we derive its stationary distribution given a pricing function. Based on the distribution, we express the average profit function. By a stochastic comparison approach, we characterize the pricing strategy given different customers willingness-to-pay functions. Finally, we provide an approximation algorithm to calculate the optimal pricing function. | - |
dcterms.accessRights | open access | en_US |
dcterms.bibliographicCitation | Probability in the Engineering and informational sciences, July 2011, v. 25, no. 3, p. 289-306 | - |
dcterms.isPartOf | Probability in the engineering and informational sciences | - |
dcterms.issued | 2011-07 | - |
dc.identifier.isi | WOS:000292239300002 | - |
dc.identifier.scopus | 2-s2.0-79960270071 | - |
dc.identifier.eissn | 1469-8951 | - |
dc.identifier.rosgroupid | r59968 | - |
dc.description.ros | 2011-2012 > Academic research: refereed > Publication in refereed journal | - |
dc.description.oa | Version of Record | en_US |
dc.identifier.FolderNumber | OA_IR/PIRA | en_US |
dc.description.pubStatus | Published | en_US |
Appears in Collections: | Journal/Magazine Article |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
Guo_Pricing_Perishable_Poisson.pdf | 370.37 kB | Adobe PDF | View/Open |
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