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Author: Yuhan Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This dissertation consists of two distinct lines of research e orts. Chapter 2 proposes a general methodology to seek robust solution to multi-stage stochastic optimization problems. Chapters 3, 4 and 5 all deal with models that arise from inventory management and dynamic pricing. Chapter 2 introduces the Extended Affinely Adjustable Robust Counterpart(EAARC). We first propose the general steps of extending affine decision rules via re-parameterizing the uncertainty set, then propose the example of splitting-based EAARC. We show that this approach extends the versatility of affine decision rules beyond what has been proposed by Ben-Tal et al. while retaining tractability. Chapter 3 looks at the classical joint inventory-and-pricing model (single product periodic-review) with concave ordering cost. Concave cost structures may often occur in settings with multiple sources of supply. For this model, assuming additive demand uncertainty, we show that a generalized (s; S; p) policy is optimal under certain conditions imposed on the distribution of the random perturbation. Chapter 4 and 5 focus on the reference price effect in which the price impact on demand is no longer instantaneous, but history-dependent. Chapter 4 analyzes a joint inventory-and-pricing model with reference price e ffect. We prove that a reference price dependent base-stock policy is optimal even though the single period expected pro t may not be concave. In the in finite horizon case, we further show that in the optimal trajectory, reference price converges to a steady state and provide a characterization. Chapter 5 represents some initial e orts in modeling heterogeneity in the consumer group, in which we study a continuous-time dynamic pricing problem under stochastic reference price e ffect. Stochastic optimal control theory is applied to the problem to derive an explicit solution. Various comparative statics are then conducted to benchmark our model against a few simpli ed models.
Author: Yuhan Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
This dissertation consists of two distinct lines of research e orts. Chapter 2 proposes a general methodology to seek robust solution to multi-stage stochastic optimization problems. Chapters 3, 4 and 5 all deal with models that arise from inventory management and dynamic pricing. Chapter 2 introduces the Extended Affinely Adjustable Robust Counterpart(EAARC). We first propose the general steps of extending affine decision rules via re-parameterizing the uncertainty set, then propose the example of splitting-based EAARC. We show that this approach extends the versatility of affine decision rules beyond what has been proposed by Ben-Tal et al. while retaining tractability. Chapter 3 looks at the classical joint inventory-and-pricing model (single product periodic-review) with concave ordering cost. Concave cost structures may often occur in settings with multiple sources of supply. For this model, assuming additive demand uncertainty, we show that a generalized (s; S; p) policy is optimal under certain conditions imposed on the distribution of the random perturbation. Chapter 4 and 5 focus on the reference price effect in which the price impact on demand is no longer instantaneous, but history-dependent. Chapter 4 analyzes a joint inventory-and-pricing model with reference price e ffect. We prove that a reference price dependent base-stock policy is optimal even though the single period expected pro t may not be concave. In the in finite horizon case, we further show that in the optimal trajectory, reference price converges to a steady state and provide a characterization. Chapter 5 represents some initial e orts in modeling heterogeneity in the consumer group, in which we study a continuous-time dynamic pricing problem under stochastic reference price e ffect. Stochastic optimal control theory is applied to the problem to derive an explicit solution. Various comparative statics are then conducted to benchmark our model against a few simpli ed models.
Author: Özalp Özer
Publisher: OUP Oxford
ISBN: 0191634263
Category : Business & Economics
Languages : en
Pages : 976
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Book Description
The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.
Author: Robert Bork
Publisher:
ISBN: 9781736089712
Category :
Languages : en
Pages : 536
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Book Description
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Author: Hermann Simon
Publisher: Springer
ISBN: 3319994565
Category : Business & Economics
Languages : en
Pages : 569
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Book Description
In this book, the world’s foremost experts on pricing integrate theoretical rigor and practical application to present a comprehensive resource that covers all areas of the field. This volume brings together quantitative and qualitative approaches and highlights the most current innovations in theory and practice. Going beyond the traditional constraints of “price theory” and “price policy,” the authors coined the term “price management” to represent a holistic approach to pricing strategy and tactical implementation. They remind us that the Ancient Romans used one word, pretium, to mean both price and value. This is the fundamental philosophy that drives successful price management where producer and customer meet. Featuring dozens of examples and case studies drawn from their extensive research, consulting, and teaching around the world, Simon and Fassnacht cover all aspects of pricing following the price management process with its four phases: strategy, analysis, decision, and implementation. Thereby, the authors take into account the nuances across industry sectors, including consumer goods, industrial products, services, and trade/distribution. In particular, they address the implications of technological advancements, such as the Internet and new measurement and sensor technologies that have led to a wealth of price management innovations, such as flat rates, freemium, pay-per-use, or pay-what-you-want. They also address the emergence of new price metrics, Big Data applications, two-sided price systems, negative prices, and the sharing economy, as well as emerging payment systems such as bitcoin. The result is a “bible” for leaders who recognize that price is not only a means to drive profit in the short term, but a tool to generate sustained growth in shareholder value over the longer term, and a primer for researchers, instructors, and students alike. Praise for Price Management “This book is truly state of the art and the most comprehensive work in price management.” - Prof. Philip Kotler, Kellogg School of Management, Northwestern University “This very important book builds an outstanding bridge between science and practice.“ - Kasper Rorsted, CEO, Adidas “This book provides practical guidelines on value creation, communication and management, which is an imperative for businesses to survive in the coming era of uncertainty.” - Dr. Chang-Gyu Hwang, Chairman and CEO, KT Corporation (Korea Telecom)
Author: Warren B. Powell
Publisher: John Wiley & Sons
ISBN: 1118309847
Category : Mathematics
Languages : en
Pages : 416
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Book Description
Learn the science of collecting information to make effective decisions Everyday decisions are made without the benefit of accurate information. Optimal Learning develops the needed principles for gathering information to make decisions, especially when collecting information is time-consuming and expensive. Designed for readers with an elementary background in probability and statistics, the book presents effective and practical policies illustrated in a wide range of applications, from energy, homeland security, and transportation to engineering, health, and business. This book covers the fundamental dimensions of a learning problem and presents a simple method for testing and comparing policies for learning. Special attention is given to the knowledge gradient policy and its use with a wide range of belief models, including lookup table and parametric and for online and offline problems. Three sections develop ideas with increasing levels of sophistication: Fundamentals explores fundamental topics, including adaptive learning, ranking and selection, the knowledge gradient, and bandit problems Extensions and Applications features coverage of linear belief models, subset selection models, scalar function optimization, optimal bidding, and stopping problems Advanced Topics explores complex methods including simulation optimization, active learning in mathematical programming, and optimal continuous measurements Each chapter identifies a specific learning problem, presents the related, practical algorithms for implementation, and concludes with numerous exercises. A related website features additional applications and downloadable software, including MATLAB and the Optimal Learning Calculator, a spreadsheet-based package that provides an introduction to learning and a variety of policies for learning.
Author: Nripendra P. Rana
Publisher: Springer Nature
ISBN: 3030243745
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
This book examines issues and implications of digital and social media marketing for emerging markets. These markets necessitate substantial adaptations of developed theories and approaches employed in the Western world. The book investigates problems specific to emerging markets, while identifying new theoretical constructs and practical applications of digital marketing. It addresses topics such as electronic word of mouth (eWOM), demographic differences in digital marketing, mobile marketing, search engine advertising, among others. A radical increase in both temporal and geographical reach is empowering consumers to exert influence on brands, products, and services. Information and Communication Technologies (ICTs) and digital media are having a significant impact on the way people communicate and fulfil their socio-economic, emotional and material needs. These technologies are also being harnessed by businesses for various purposes including distribution and selling of goods, retailing of consumer services, customer relationship management, and influencing consumer behaviour by employing digital marketing practices. This book considers this, as it examines the practice and research related to digital and social media marketing.
Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
ISBN: 0309459575
Category : Medical
Languages : en
Pages : 483
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Book Description
Drug overdose, driven largely by overdose related to the use of opioids, is now the leading cause of unintentional injury death in the United States. The ongoing opioid crisis lies at the intersection of two public health challenges: reducing the burden of suffering from pain and containing the rising toll of the harms that can arise from the use of opioid medications. Chronic pain and opioid use disorder both represent complex human conditions affecting millions of Americans and causing untold disability and loss of function. In the context of the growing opioid problem, the U.S. Food and Drug Administration (FDA) launched an Opioids Action Plan in early 2016. As part of this plan, the FDA asked the National Academies of Sciences, Engineering, and Medicine to convene a committee to update the state of the science on pain research, care, and education and to identify actions the FDA and others can take to respond to the opioid epidemic, with a particular focus on informing FDA's development of a formal method for incorporating individual and societal considerations into its risk-benefit framework for opioid approval and monitoring.
Author: T. R. Malthus
Publisher: Courier Corporation
ISBN: 0486115771
Category : Social Science
Languages : en
Pages : 162
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Book Description
The first major study of population size and its tremendous importance to the character and quality of society, this classic examines the tendency of human numbers to outstrip their resources.
Author: Anol Bhattacherjee
Publisher: CreateSpace
ISBN: 9781475146127
Category : Science
Languages : en
Pages : 156
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Book Description
This book is designed to introduce doctoral and graduate students to the process of conducting scientific research in the social sciences, business, education, public health, and related disciplines. It is a one-stop, comprehensive, and compact source for foundational concepts in behavioral research, and can serve as a stand-alone text or as a supplement to research readings in any doctoral seminar or research methods class. This book is currently used as a research text at universities on six continents and will shortly be available in nine different languages.
Author: Amartya Sen
Publisher: OUP Oxford
ISBN: 0191037435
Category : Social Science
Languages : en
Pages : 270
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Book Description
The main focus of this book is on the causation of starvation in general and of famines in particular. The author develops the alternative method of analysis—the 'entitlement approach'—concentrating on ownership and exchange, not on food supply. The book also provides a general analysis of the characterization and measurement of poverty. Various approaches used in economics, sociology, and political theory are critically examined. The predominance of distributional issues, including distribution between different occupation groups, links up the problem of conceptualizing poverty with that of analyzing starvation.
