We consider the joint pricing and inventory control problem for a single product with a finite horizon and periodic review. The demand distribution in each period is determined by an exogenous Markov chain. Pricing and ordering decisions are made at the beginning of each period and all shortages...

At the beginning of the selling season, the retailer announces both the price ph at which the product will be sold during the selling season and the post-season clearance price p' lt; ph for unsold items. Customers arrive in accord with a Poisson process, and each of the n 1 customer classes has...

Consider a retailer announces both the regular price and the post-season clearance price at the beginning of the selling season. Throughout the season, customers arrive in accord with a Poisson process. In this paper we analyze the impact of two types of customer purchasing behavior and two...