GERCHAK, YIGAL - In: Asia-Pacific Journal of Operational Research (APJOR) 29 (2012) 01, pp. 1240007-1
Operational decisions of a monopolist firm affect expected social welfare, a fact typically ignored by OM models. Specifically, the price selected directly affects the consumer surplus, which has to be added to firm's profit to find the social welfare. We assume an uncertain, price-sensitive,...