TY  - GEN
AU  - Gimpl-Heersink,Lisa
TI  - Joint Pricing and Inventory Control under Reference Price Effects
SN  - b13901
PY  - 2018///
CY  - Bern
PB  - Peter Lang International Academic Publishing Group
KW  - Production & quality control management
KW  - bicssc
KW  - Purchasing & supply management
KW  - Analytical Analysis
KW  - Control
KW  - Dynamic Programming
KW  - Effects
KW  - Gimpl
KW  - Heersink
KW  - Integrated Pricing and Inventory Models
KW  - Inventory
KW  - Joint
KW  - Price
KW  - Pricing
KW  - Reference
KW  - Stochastic Demand Models
KW  - under
N1  - Open Access
N2  - In this work, we address the problem of simultaneously determining a pricing and inventory replenishment strategy under reference price effects. This reference price effect models the fact that consumers not only react sensitively to the current price, but also to deviations from a reference price formed on the basis of past purchases. Immediate effects of price reductions on profits have to be weighted against the resulting losses in future periods. By providing an analytical analysis and numerical simulations we study how the additional dynamics of the consumers’ willingness to pay affect an optimal pricing and inventory control model and whether a simple policy such as a base-stock-list-price policy holds in such a setting
UR  - https://library.oapen.org/bitstream/20.500.12657/26874/1/1003169.pdf
UR  - https://library.oapen.org/bitstream/20.500.12657/26874/1/1003169.pdf
UR  - https://library.oapen.org/bitstream/20.500.12657/26874/1/1003169.pdf
UR  - https://directory.doabooks.org/handle/20.500.12854/37100
ER  -