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We study an aggregated marketplace where potential buyers arrive and submit requests-for-quotes (RFQs). There are n independent suppliers modelled as M=GI=1 queues that compete for these requests. Each supplier submits a bid that comprises of a fixed price and a dynamic target leadtime, and the...
Persistent link: https://www.econbiz.de/10013121002
We study an aggregated marketplace where potential buyers arrive and submit requests-for-quotes (RFQs). There are n independent suppliers modeled as M/GI/1 queues that compete for these requests. Each supplier submits a bid that comprises of a fixed price and a dynamic target leadtime, and the...
Persistent link: https://www.econbiz.de/10012926272
We consider a dynamic pricing problem where a firm sells one item to a single buyer in order to maximize expected revenues. The firm commits to a price function over an infinite horizon. The buyer arrives at some random time with a private value for the item. He is more impatient than the seller...
Persistent link: https://www.econbiz.de/10012841130
We analyze a revenue management problem in which a seller facing a Poisson arriving stream of customers operates an online multiunit auction. Customers have an alternative list price channel where to get the product from. We consider two variants of this problem: In the first one, the list price...
Persistent link: https://www.econbiz.de/10012769936
In retail operations, customer choices may be affected by stockout and promotion events. Given panel data with the transaction history of customers, and product availability and promotion data, our goal is to predict future individual purchases.We use a general nonparametric framework in which...
Persistent link: https://www.econbiz.de/10013005313
Demand estimation is a fundamental task in retail operations and revenue management, providing the necessary input data for inventory control, assortment and price optimization models. The task is particularly difficult in operational contexts when product availability varies over time and...
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