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...

We consider an inventory control problem with multiple products and stockout substitution. The firm knows neither the primary demand distribution for each product nor the customers' substitution probabilities between products a priori, and needs to learn such information from sales data on the...