Pricing to the Scenario: Price-Setting Newsvendor Models for Innovative Products
Pricing to the Scenario: Price-Setting Newsvendor Models for Innovative Products
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DOI：
10.3390/math7090814
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发表时间：
2019-08
期刊：
影响因子：
2.4
通讯作者：
Xiuyan Ma
中科院分区：
文献类型：
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作者：
Xiuyan Ma
本文考虑在垄断市场环境下生产和销售一种创新产品的制造商。由于创新产品的生命周期通常短于其采购提前期，因此在销售季节会出现唯一的需求量(情景)，因此制造商只有一次机会来确定最优生产量和最优销售价格。考虑到这类决策问题的一次性特点，提出了一种创新产品定价的报商模型。与现有的报商定价模型不同，所提出的模型是根据制造商最适用的特定状态(场景)来确定最优的生产数量和销售价格。理论分析为制造商在创新产品的垄断市场中的行为提供了管理见解，并很好地解释了奢侈品市场中的几个现象。
In this paper, we consider a manufacturer who produces and sells a kind of innovative product in the monopoly market environment. Because the life cycle of an innovative product is usually shorter than its procurement lead time, one unique demand quantity (scenario) will occur in the selling season; thus, there is only one chance for the manufacturer to determine both optimal production quantity and optimal sale price. Considering this one-time feature of such a decision problem, a price-setting newsvendor model for innovative products is proposed. Different to the existing price-setting newsvendor models, the proposed models determine the optimal production quantity and sale price based on some specific state (scenario) which is most applicable for the manufacturer. The theoretical analysis provides managerial insights into the manufacturers’ behaviors in a monopoly market of an innovative product, and several phenomena in the luxury goods market are well explained.