Download or read book Cyclic Pricing with Strategic Waiting Customers and Population Dynamics written by Zheyi Li and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider continuous-time dynamic pricing in the presence of strategic waiting customers and their population dynamics. The firm makes the pricing decision with a finite menu of prices each time. Customers arrive at a constant rate with heterogeneous valuations. Customers purchase if the current price is less than their corresponding valuations. The remaining customers are strategic: they may leave or wait for future clearance sales, and the leaving rate can be population-contingent. The firm has the option to offer a clearance price to attract all waiting customers to purchase. We build a continuous-time model by exploiting impulse control. For a two-price menu, the optimal pricing policy is a cyclic pricing strategy that starts with a regular price and ends at a clearance price. For a multi-price menu, in contrast to the existing literature, we show that the optimal dynamic pricing policy can be either a textit{pump and dump cyclic} or textit{generalized pump and dump cyclic} strategy. Which strategy is optimal is determined by the sign of the effective marginal leaving rate. We provide analytical solutions for the cycle length and the optimal pricing path. Our results provide new explanations for the popularity of periodic clearance sales with penetration pricing and skimming pricing in practice. Our findings also provide guidelines on carrying out dynamic pricing with the customer leaving behaviors. Numerically, we show that ignoring cyclic pricing in the presence of strategic waiting customers can lead to a significant profit loss.
Download or read book Intertemporal Price Discrimination written by Omar Besbes and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a firm's optimal pricing policy under price commitment. The firm's objective is to maximize its long-term average revenue given a steady arrival of strategic customers. In particular, customers arrive over time, are strategic in timing their purchases and are heterogeneous along two dimensions: their valuation for the firm's product and their willingness to wait before purchasing or leaving. The customers' patience and valuation may be correlated in an arbitrary fashion. For this general formulation, we prove that the firm may restrict attention to cyclic pricing policies, which have length at most twice the maximum willingness to wait of the customer population. To efficiently compute optimal policies, we develop a dynamic programming approach which uses a novel state space which is general, enabling to handle arbitrary problem primitives, and that generalizes to finite horizon problems with non-stationary parameters. We analyze the class of monotone pricing policies and establish their suboptimality in general. Optimal policies are, in a typical scenario, characterized by nested sales, where the firm offers partial discounts throughout each cycle, offers a significant discount halfway through the cycle, with the largest discount offered at the end of the cycle. We further establish a form of equivalence between the problem of pricing for a stream of heterogeneous strategic customers and pricing for a pool of heterogeneous customers who may stockpile units of the product.
Download or read book Cyclic Pricing When Customers Queue with Rating Information written by Fengfeng Huang and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consider a situation where a service provider serves two types of customers, sophisticated and naive. Sophisticated customers are well-informed of service-related information and make their joining-or-balking decisions strategically, whereas naive customers do not have such information and rely on online rating information to make such decisions. We demonstrate that under certain conditions a service provider can increase its profitability by simply `dancing' its price, that is, replacing the static pricing strategy with a high-low cyclic pricing strategy. The success of this strategy relies on two key conditions: the potential market size is large enough so that congestion is a key concern in the service system, and the rating provides the average price and average utility information. Finally, we show that the cyclic pricing strategy is not socially optimal.
Download or read book The Cyclicality of Sales Regular and Effective Prices written by Mr.Olivier Coibion and published by International Monetary Fund. This book was released on 2012-08-01 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety of U.S. metropolitan areas. Both the frequency and size of sales fall when local unemployment rates rise and yet the inflation rate for effective prices paid by consumers declines significantly with higher unemployment. This discrepancy can be reconciled by consumers reallocating their expenditures across retailers, a feature of the data which we document and quantify. We propose a simple model with household shopping effort and store-switching consistent with these stylized facts and document its implications for business cycles and policymakers.
Download or read book Inter Temporal Pricing with Strategic Customer Behavior written by Xuanming Su and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model of dynamic pricing with endogenous inter-temporal demand. In the model, there is a monopolist who sells a finite inventory over a finite time horizon. The seller adjusts prices dynamically in order to maximize revenue. Customers arrive continually over the duration of the selling season. At each point in time, customers may purchase the product at current prices, remain in the market at a cost in order to purchase later, or exit, and they wish to maximize individual utility. The customer population is heterogeneous along two dimensions: they may have different valuations for the product and different degrees of patience (waiting costs). We demonstrate that heterogeneity in both valuation and patience is important because they jointly determine the structure of optimal pricing policies. In particular, when high-value customers are proportionately less patient, markdown pricing policies are effective because the high-value customers would buy early at high prices while the low-value customers are willing to wait (i.e. they are not lost). On the other hand, when the high-value customers are more patient than the low-value customers, prices should increase over time in order to discourage inefficient waiting. Contrary to intuition, we find that strategic waiting by customers may sometimes benefit the seller: when low-value customers wait, they compete for availability with high-value customers and thus increase their willingness to pay. Our results also shed light on how the composition of the customer population affects optimal revenue, consumer surplus, and social welfare. Finally, we consider the long run problem of selecting the optimal initial stocking quantity.
Download or read book Dynamic Pricing with Heterogeneous Patience Levels written by Ilan Lobel and published by . This book was released on 2017 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider the problem of dynamic pricing in the presence of patient consumers. We call a consumer patient if she is willing to wait a certain number of periods for a lower price and will purchase as soon as the price is equal to or below her valuation. We allow for arbitrary joint distributions of patience levels and valuations. We propose an efficient dynamic programming algorithm for finding optimal pricing policies. The dynamic program requires a larger state space than its counterpart for a strategic consumers model. We find numerically that optimal policies can take the form of incomplete cyclic policies, combining features of both nested sales policies and decreasing cyclic policies.
Download or read book Synchronizing Pricing and Replenishment to Serve Forward Looking Customers with Lost Sales written by Ying-Ju Chen and published by . This book was released on 2018 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: [Problem Definition] We incorporate heterogeneous customer valuation and the strategic customer behavior in the classical economic order quantity (EOQ) setting. The seller incurs setup costs when replenishing inventory, and can set the prices differently over time and implement capacity rationing. [Academic/ Practical Relevance] While similar ideas of market segmentation and intertemporal price discrimination can be carried over from the travel industries to other industries, there are new aspects when applying these concepts to retail outlets and supermarkets, because they usually face inventory replenishment problems. This makes the joint inventory replenishment and revenue management problem imperative. [Methodology] We adopt the mechanism design and dynamic programming approaches. [Results] We establish the optimality of cyclic intertemporal price discrimination, even if the customers are endowed with homogeneous valuations. Under the optimal policy, the replenishments and price promotions are synchronized, and the seller adopts the highest selling price when the inventory level is the lowest and plans discontinuous price discount at the replenishment point when the inventory is the highest. We also show that, under inventory-based pricing there is a direct mapping between deterministic and stochastic arrivals scenarios, and randomness on the arrivals per se does not alter the structure of the optimal policy. [Managerial Implications] This cyclic pricing scheme offers a stark contrast to the "low-price-every-day" scheme and achieves overall higher profit because customer strategic behavior offers additional flexibility to the seller in managing his inventory. Furthermore, because strategic customers are willingly backlogged, this creates opportunities for the seller to work with the customers to achieve a lower operational cost and a higher overall profit.
Download or read book INFORMS Annual Meeting written by Institute for Operations Research and the Management Sciences. National Meeting and published by . This book was released on 2009 with total page 644 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Adaptive Strategies and Population Ecology of Northern Grouse written by A. T. Bergerud and published by U of Minnesota Press. This book was released on 1988 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Adaptive Strategies and Population Ecology of Northern Grouse" was first published in 1988. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions. This book is at once a major reference to the species of grouse that inhabit North America and the Holarctic and a synthesis of all the available data on their ecology, sociobiology, population dynamics, and management. The book undertakes to answer two long-standing questions in population ecology: what actually regulates the numbers within a population, and what are the breeding and survival strategies evolved in this northern environment? For Volume I, editors Arthur T. Bergerud and Michael W. Gratson have drawn together their own work and that of colleagues in North America, Iceland, and Norway--in all, eleven research studies, averaging six years' duration, on eight species of grouse. These studies deal with the blue and ruffed grouse of the forest habitat; the sharp-tailed grouse, prairie chicken, and sage grouse of the prairie or steppe; and the white-tailed, rick, and willow ptarmigan found in alpine and arctic tundras. The authors describe the rich repertoire of behavior patterns developed by the hen and the cock to achieve their two primary objectives--first, to stay alive, and then to breed. Volume II, primarily the work of Bergerud, synthesizes the evidence in Volume I and in the grouse research literature from a theoretical perspective. Several potentially controversial sociobiological hypotheses are advanced to account for flocking behavior, migration, dispersal, roosting and feeding behavior, mate choice and mating systems. The demographic analysis provides new insights into cycles of abundance, the limitation of numbers, and the demographic factors that determine densities. The contributors, besides Bergerud and Gratson: R.C. Davies, A. Gardarson, J.E. Hartzler, R.A. Huempfner, D.A. Jenni, D.H. Mossop, S. Myrberget, R.E. Page, R.K. Schmidt, W.D. Svedarsky, and J.R. Tester.
Download or read book Adaptive Strategies and Population Ecology of Northern Grouse Volume 1 Population Studies written by Arthur T. Bergerud and published by U of Minnesota Press. This book was released on 1988 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adaptive Strategies and Population Ecology of Northern Grouse was first published in 1988. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions. This book is at once a major reference to the species of grouse that inhabit North America and the Holarctic and a synthesis of all the available data on their ecology, sociobiology, population dynamics, and management. The book undertakes to answer two long-standing questions in population ecology: what actually regulates the numbers within a population, and what are the breeding and survival strategies evolved in this northern environment? For Volume I, editors Arthur T. Bergerud and Michael W. Gratson have drawn together their own work and that of colleagues in North America, Iceland, and Norway—in all, eleven research studies, averaging six years' duration, on eight species of grouse. These studies deal with the blue and ruffed grouse of the forest habitat; the sharp-tailed grouse, prairie chicken, and sage grouse of the prairie or steppe; and the white-tailed, rick, and willow ptarmigan found in alpine and arctic tundras. The authors describe the rich repertoire of behavior patterns developed by the hen and the cock to achieve their two primary objectives—first, to stay alive, and then to breed. Volume II, primarily the work of Bergerud, synthesizes the evidence in Volume I and in the grouse research literature from a theoretical perspective. Several potentially controversial sociobiological hypotheses are advanced to account for flocking behavior, migration, dispersal, roosting and feeding behavior, mate choice and mating systems. The demographic analysis provides new insights into cycles of abundance, the limitation of numbers, and the demographic factors that determine densities. The contributors, besides Bergerud and Gratson: R.C. Davies, A. Gardarson, J.E. Hartzler, R.A. Huempfner, D.A. Jenni, D.H. Mossop, S. Myrberget, R.E. Page, R.K. Schmidt, W.D. Svedarsky, and J.R. Tester.
Download or read book Mutual Aid Groups Vulnerable and Resilient Populations and the Life Cycle written by Alex Gitterman and published by Columbia University Press. This book was released on 2005-02-23 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors to this volume examine the role of mutual aid groups and social workers in helping members of oppressed, vulnerable, and resilient populations regain control over their lives. The chapters reveal the ways in which mutual aid processes help individuals overcome social and emotional trauma in contemporary society by reducing isolation, universalizing individual problems, and mitigating stigma. Using the life cycle as a framework the editors establish a theoretical model for practice and demonstrate how social workers as group leaders can foster the healing and empowering process of mutual aid. The contributors also consider the fundamentals of the mutual aid process, the institutional benefits of group service, and specific clinical examples of mutual aid groups. Each chapter offers detailed case materials that illustrate both group work skills and developmental issues for a variety of populations and settings, including HIV-positive and AIDS patients, the homeless, and perpetrators and victims of sexual abuse and family violence. New chapters in this completely revised and updated third edition illustrate the power of mutual aid processes in dealing with children traumatized by the events of September 11, adult survivors of sexual abuse, parents with developmentally challenged children, people with AIDS in substance recovery, and mentally ill older adults.
Download or read book Confronting Climate Change written by Irving M. Mintzer and published by Cambridge University Press. This book was released on 1992-06-11 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Confronting Climate Change is a guide to the risks, dilemmas, and opportunities of the emerging political era, in which the impacts of a global warming could affect all regional, public and even individual decisions. Written by a renowned group of scientists, political analysts and economists, all with direct experience in climate change related deliberations, Confronting Climate Change is a survey of the best available answers to three vital questions: What do we know so far about the foreseeable dangers of climate change? How reliable is our knowledge? What are the most rewarding ways to respond? The book begins by exploring the key linkages and feedbacks that connect the risks of rapid climate change to other important environmental, economic and political problems of our time. Recognizing persistent uncertainties in the scientific understanding of climate change, the book draws attention to those areas of research which may reveal surprises which could change the sense of political urgency surrounding the climate problem - as did the discovery of the Antarctic ozone hole. It explores the geological record of climate change over the Earth's history, seeking a better understanding of how the climate has changed rapidly in countries while minimizing the long-term environmental damages which otherwise will result from continuing the current patterns of energy supply and use. The book is written to cross discipline boundaries, so that policy makers, economists, scientists, risk assessors, environmentalists and development advocates may understand each other's concerns. It shows how the international debate on managing the risks of rapid climate change may be re-shaped for the benfit of people in every nation on the planet.
Download or read book The Bacterial Cell Coupling between Growth Nucleoid Replication Cell Division and Shape Volume 2 written by Ariel Amir and published by Frontiers Media SA. This book was released on 2019-11-14 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1st volume of our Research Topic "The Bacterial Cell: Coupling between Growth, Nucleoid Replication, Cell Division and Shape” was published as an eBook in May 2016 (see: http://journal.frontiersin.org/researchtopic/2905/the-bacterial-cell-coupling-between-growth-nucleoid-replication-cell-division-and-shape). As a sign of growing interest to the topic, two workshops followed the same year: "Stochasticity in the Cell Cycle" in Jerusalem (Israel) by the Hebrew University’s Institute of Advanced Studies and EMBO's "Cell Size Regulation" in Joachimsthal (Germany). From the time of launching the first edition, several new groups have entered the field, and many established groups have made significant advances using state-of-the-art microscopy and microfluidics. Combining these approaches with the techniques pioneered by quantitative microbiologists decades ago, these approaches have provided remarkable amounts of numerical data. Most of these data needed yet to be put into a broader theoretical perspective. Moreover, the molecular mechanisms governing coordination and progression of the main bacterial cell cycle processes have remained largely unknown. These outstanding fundamental questions and the growing interest to the field motivated us to launch the next volume titled “The Bacterial Cell: Coupling between Growth, Nucleoid Replication, Cell Division, and Shape, Volume 2” shortly after completion of the first edition in October 2016. The issue contains 17 contributions from a diverse array of scientists whose field of study spans microbiology, biochemistry, genetics, experimental and theoretical biophysics. The specific questions addressed in the issue include: What triggers initiation of chromosome replication? How is cell division coordinated with replication both spatially and temporally? How is cell size controlled and linked to the rate of mass growth? What role plays physical organization of the chromosomes in their segregation and in regulation of cell division? The publications covering these questions are divided into three topical areas: 1) Cell Cycle Regulation, 2) Growth and Division, and 3) Nucleoid Structure and Replication. New ideas and techniques put forward in these articles bring us closer to understand these fundamental cellular processes, but the quest to resolve them is far from being complete. Plans for the next edition are under way along with further meetings and workshops, e.g., an EMBO Workshop on Bacterial cell biophysics: DNA replication, growth, division, size and shape in Ein Gedi (Israel), May 2020. We hope that via such interdisciplinary exchange of ideas we will come closer to answering the above-mentioned complex and multifaceted questions.
Download or read book Evolutionary Ecology of Parasites written by Robert Poulin and published by Princeton University Press. This book was released on 2011-06-27 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: Parasites have evolved independently in numerous animal lineages, and they now make up a considerable proportion of the biodiversity of life. Not only do they impact humans and other animals in fundamental ways, but in recent years they have become a powerful model system for the study of ecology and evolution, with practical applications in disease prevention. Here, in a thoroughly revised and updated edition of his influential earlier work, Robert Poulin provides an evolutionary ecologist's view of the biology of parasites. He sets forth a comprehensive synthesis of parasite evolutionary ecology, integrating information across scales from the features of individual parasites to the dynamics of parasite populations and the structuring of parasite communities. Evolutionary Ecology of Parasites presents an evolutionary framework for the study of parasite biology, combining theory with empirical examples for a broader understanding of why parasites are as they are and do what they do. An up-to-date synthesis of the field, the book is an ideal teaching tool for advanced courses on the subject. Pointing toward promising directions and setting a research agenda, it will also be an invaluable reference for researchers who seek to extend our knowledge of parasite ecology and evolution.
Download or read book Towards a Comparative Economic History of Cinema 1930 1970 written by John Sedgwick and published by Springer Nature. This book was released on 2022-09-09 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the economic circumstances in which films were produced, distributed, exhibited, and consumed during the spoken era of film production until 1970. The periodisation covers the years between the onset of sound and the demise of the phased distribution of films. Films are generally appreciated for their aesthetic qualities. But they are also commodities. This work of economic history presents a new approach, considering consumption behaviour as significant as supply-side decision-making. Audiences’ tastes are considered central, with box-office an indicator of what they liked. The POPSTAT Index of Film Popularity is used as a proxy where box office knowledge is missing. Comparative analysis is conducted through the tool RelPOP. The book comprises original case studies covering film consumption in Great Britain, the Netherlands, Sweden, and the United States during the 1930s; Australia and occupied Belgium during the Second World War; and Italy, the United States, Poland and Czechoslovakia during the Post-war. An overriding theme is how the classical American business model, which emerged during the 1910s linking production to distribution and exhibition, adapted to local circumstances, including the two countries behind the Iron Curtain during the years of ‘High Stalinism’.
Download or read book Shelter Medicine for Veterinarians and Staff written by Lila Miller and published by John Wiley & Sons. This book was released on 2013-01-04 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shelter Medicine for Veterinarians and Staff, Second Edition is the premier reference on shelter medicine. Divided into sections on management, species-specific animal husbandry, infectious disease, animal cruelty, shelter programs, behavior, and spay/neuter, the new edition has been reformatted in a more user-friendly design with briefer chapters and information cross-referenced between chapters. Maintaining a herd health approach, new and expanded chapters address issues of husbandry, infectious disease management, behavior forensics, population management, forensic toxicology, animal cruelty and hoarding, enrichment in shelters, spay/neuter, and shelter design. Now in full color, this fully updated new edition delivers a vast array of knowledge necessary to provide appropriate and humane care for shelter animals. Veterinarians, veterinary technicians and shelter professionals will find this to be the go-to resource on the unique aspects of shelter medicine that help facilitate operating a modern, efficient, and humane shelter.
Download or read book Communication and Computing Systems written by B.M.K. Prasad and published by CRC Press. This book was released on 2017-02-15 with total page 1551 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of accepted papers that were presented at the International Conference on Communication and Computing Systems (ICCCS-2016), Dronacharya College of Engineering, Gurgaon, September 9–11, 2016. The purpose of the conference was to provide a platform for interaction between scientists from industry, academia and other areas of society to discuss the current advancements in the field of communication and computing systems. The papers submitted to the proceedings were peer-reviewed by 2-3 expert referees. This volume contains 5 main subject areas: 1. Signal and Image Processing, 2. Communication & Computer Networks, 3. Soft Computing, Intelligent System, Machine Vision and Artificial Neural Network, 4. VLSI & Embedded System, 5. Software Engineering and Emerging Technologies.
