TY - GEN
T1 - Solution Method of News Vendor Problem with Price Elasticity of Demand by Parametric Stochastic Programming
AU - Risako, Nibe
AU - Takashi, Hasuike
AU - Takayuki, Shiina
N1 - Publisher Copyright:
© 2019 IEEE.
PY - 2019/7
Y1 - 2019/7
N2 - In this paper, we consider a newsvendor problem with price elasticity of probabilistic demand. The objective is to determine the optimal price that maximizes profits under various random demand fluctuations by using parametric stochastic programming. In this paper, we consider the product whose demand is sensitive to price and loses its value over time, and show an optimal pricing model and the solution method.
AB - In this paper, we consider a newsvendor problem with price elasticity of probabilistic demand. The objective is to determine the optimal price that maximizes profits under various random demand fluctuations by using parametric stochastic programming. In this paper, we consider the product whose demand is sensitive to price and loses its value over time, and show an optimal pricing model and the solution method.
KW - newsvendor problem
KW - optimal pricing
KW - price elasticity of demand
UR - http://www.scopus.com/inward/record.url?scp=85080894855&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85080894855&partnerID=8YFLogxK
U2 - 10.1109/IIAI-AAI.2019.00159
DO - 10.1109/IIAI-AAI.2019.00159
M3 - Conference contribution
AN - SCOPUS:85080894855
T3 - Proceedings - 2019 8th International Congress on Advanced Applied Informatics, IIAI-AAI 2019
SP - 781
EP - 784
BT - Proceedings - 2019 8th International Congress on Advanced Applied Informatics, IIAI-AAI 2019
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 8th IIAI International Congress on Advanced Applied Informatics, IIAI-AAI 2019
Y2 - 7 July 2019 through 11 July 2019
ER -