A Fractiles Perspective to the Joint Price/Quantity Newsvendor Model
A Fractiles Perspective to the Joint Price/Quantity Newsvendor Model
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联合价格/数量报童模型的分形视角
DOI：
10.1287/mnsc.1060.0584
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发表时间：
2006
期刊：
影响因子：
--
通讯作者：
Evan L. Porteus
中科院分区：
文献类型：
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作者：
Gal Raz;Evan L. Porteus
定价和数量决策对于不同行业的许多公司至关重要。我们研究联合价格/数量报童模型，其中仅做出单一数量和价格决策，例如无法补充的时尚或度假产品，并且价格在全国范围内进行广告且无法更改。需求不确定且对价格敏感。我们开发了一种方法，可以轻松找到最佳价格和数量，该方法适用于比通常情况更一般的情况，在通常情况下，不确定性要么是加性的，要么是乘性的，要么是两者的组合。我们通过给定价格的需求概率分布的分位数来表示数量。我们使用标准方法用有限数量的代表性分位来近似给定分布，并假设这些分位函数是价格的分段线性函数。我们确定了联合价格/数量报童模型中通常不会出现的效应。例如，虽然最优数量是单位成本的递减函数，但最优价格在单位成本中可能是非单调的，我们深入了解了原因。我们说明，使用简化的需求不确定性结构可能会导致利润大幅下降。
Pricing and quantity decisions are critical to many firms across different industries. We study the joint price/quantity newsvendor model where only a single quantity and price decision is made, such as a fashion or holiday product that cannot be replenished and where the price is advertised nationally and cannot be changed. Demand is uncertain and sensitive to price. We develop a method for easily finding the optimal price and quantity that applies to more general cases than the usual one in which uncertainty is either additive, multiplicative, or a combination of the two. We represent a quantity by its fractile of the probability distribution of demand for a given price. We use a standard approach to approximating a given distribution with a finite number of representative fractiles and assume that these fractile functions are piecewise linear functions of the price. We identify effects that are not usually seen in a joint price/quantity newsvendor model. For example, although the optimal quantity is a decreasing function of the unit cost, the optimal price can be nonmonotone in the unit cost and we shed insight into why. We illustrate that using a simplified structure of demand uncertainty can result in substantially lower profits.