We consider a firm (e.g., retailer) selling a single nonperishable product over a finite-period planning horizon. Demand in each period is stochastic and price-dependent, and unsatisfied demands are backlogged. At the beginning of each period, the firm determines its selling price and inventory...

In this paper we study a multi-period stochastic inventory system with backlogs. Demand in each period is random and price sensitive, but the firm has little or no prior knowledge about demand distribution and how each customer responds to the selling price, so the firm needs to make periodic...