Business, Management and Accounting
3 years ago

Optimal pricing strategy boosts profits with lagged price responses.

International Journal of Production Economics
Joint inventory and pricing control with lagged price responses
Yang Li, Feng Liu

Paper Summary

The article explores how to manage inventory and pricing together over time, considering how past prices affect current decisions. The researchers found that the best strategy involves setting prices and stock levels based on the impact of past prices on demand. Their analysis shows that adjusting prices based on past data can lead to higher profits in the long run.

Related papers

Economics, Econometrics and Finance
8 years ago

Pakistan's Import Demand Soars with Income Growth, Prices Plummet.

Macroeconomic Analysis
International Finance
Macroeconomic Trends
2 views
Business, Management and Accounting
5 years ago

Monopolies exploit consumer bias with nonlinear pricing, distorting consumption patterns.

Economic Analysis
Mechanism Design
Monetary Models
1 view
Theme background image
Social Sciences
8 years ago

Innovations Lowering Profit Rates: Impact on Labor Wages and Markets

Political Economy
Macroeconomic Trends
Monetary Models