NDLI: Dynamic Pricing of Perishable Products by Variational Method Facing Rational Consumers

Content Provider	IEEE Xplore Digital Library
Author	Chunlin Luo Jian Liu
Copyright Year	2008
Description	Author affiliation: Sch. of Inf. Manage., Jiangxi Univ. of Finance & Econ., Nanchang (Chunlin Luo; Jian Liu)
Abstract	By variational method, this paper studies a dynamic pricing problem of perishable products when facing rational consumers. The seller dynamically sets the price for the perishable products to maximize its total profit and the rational consumers choose their consumption pattern to maximize the expected surplus. We present a game theoretic model based on their rational expectations and develop a rational expectations (RE) equilibrium. The equilibrium solution of the game is then studied by variational method. In particular, when the consumption pattern linearly depending on the consumer surplus, we get the right dynamic price by solving the variational problem. The results that followed imply practical recommendations for the sellers when setting the price for the perishable products.
Starting Page	343
Ending Page	348
File Size	89951
Page Count	6
File Format	PDF
ISBN	9780769533667
DOI	10.1109/ICMECG.2008.60
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2008-10-17
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	TV variational method Pricing Games perishable products dynamic price Timing Mathematical model rational expectations equilibrium Cost accounting Equations
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Dynamic pricing for perishable products by fuzzy decision

Optimal Dynamic Pricing of Perishable Items by a Monopolist Facing Strategic Consumers

Optimal dynamic pricing of perishable items by a monopolist facing strategic consumers. Working paper (2007).

Analyzing the Consumers' Decision When Simultaneous Use of Auction and Posted Price

Optimal pricing with speculators and consumers when the seller's supply capacity uncertainty

Resource Pricing and Equilibrium Allocation Policy in Cloud Computing

Compressed equilibrium in large repeated games of incomplete information

Price Increasing Timing of Competitive Perishable Products

Optimal Dynamic Pricing of Perishable Products with Reference Price Effect

Dynamic Pricing of Perishable Products by Variational Method Facing Rational Consumers

Similar Documents

Dynamic pricing for perishable products by fuzzy decision

Optimal Dynamic Pricing of Perishable Items by a Monopolist Facing Strategic Consumers

Optimal dynamic pricing of perishable items by a monopolist facing strategic consumers. Working paper (2007).

Analyzing the Consumers' Decision When Simultaneous Use of Auction and Posted Price

Optimal pricing with speculators and consumers when the seller's supply capacity uncertainty

Resource Pricing and Equilibrium Allocation Policy in Cloud Computing

Compressed equilibrium in large repeated games of incomplete information

Price Increasing Timing of Competitive Perishable Products

Optimal Dynamic Pricing of Perishable Products with Reference Price Effect

Dynamic Pricing of Perishable Products by Variational Method Facing Rational Consumers