Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand

Li Zhou; Jing Li

doi:doi:10.11648/j.jfa.20140204.11

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Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand

Li Zhou, Jing Li

Published in Journal of Finance and Accounting (Volume 2, Issue 4)

Received: 24 July 2014 Accepted: 31 July 2014 Published: 10 August 2014

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Abstract

It mainly focuses the consumer strategy behavior effect on retailers pricing mechanism. Under the condition of uncertainty demand, consumers’ strategy behavior influence to price and profit. By introducing a discount factor, considering inventory timely complement and fixed inventory in two cases, obtains purchase decision and dynamic pricing strategies of consumers.

Published in	Journal of Finance and Accounting (Volume 2, Issue 4)
DOI	10.11648/j.jfa.20140204.11
Page(s)	90-94
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2014. Published by Science Publishing Group

Keywords

Consumer Strategy, Perishable Products, Dynamic Pricing, Inventory

References

[1]	You P. S, Chen T C. “Dynamic pricing of seasonal goods with spot and forward purchase demands”, Computers and Mathematics with Applications, vol.54,pp490-498, 2007.
[2]	Ringbom S. Shy O., “Refunds and collusion in service industries”, Journal of Economics and Business, pp. vol.60,pp. 502-516, Jun.2008.
[3]	Cachon G P, Swinney R. Purchasing, “Pricing, and Quick Response in the Presence of Strategic Consumers”, Management Science, vol.55, pp. 497-511, Mar.2009a.
[4]	Elmaghraby W, Keskinocak P., “Dynamic Pricing in the Presence of Inventory Considerations: Research Overview, Current Practices, and Future Directions”, Management Science, vol.49, pp.1287-1309, Oct.2003,
[5]	Zhou Y, Fan M, Cho M., “On the threshold purchasing behavior of customers facing dynamically priced perishable products”, Presentation at Informs Pittsburgh National Meeting, Nov 2006.
[6]	Aviv Y, Pazgal A., “Optimal Pricing of Seasonal Products in the Presence of Forward-Looking Consumers”, Manufacturing & Service Operations Management, vol.1,pp.1-21, April 2008.
[7]	Peng Zhiqiang, Xiong Zhongkai, Li Hao, “The service provider pricing strategy based on customer pricing model”, Statistics & Decision, vol.273, No.21, pp.169-171, Nov. 2008.
[8]	Peng Zhiqiang, Xiong Zhongkai, Li Hao, “Research on Discrimination Pricing Model Based on Remanfacturing and Waiting Behaviour of Customers”, Soft Science, vol.23,pp.123-126, March 2009a.

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APA Style

Li Zhou, Jing Li. (2014). Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. Journal of Finance and Accounting, 2(4), 90-94. https://doi.org/10.11648/j.jfa.20140204.11

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ACS Style

Li Zhou; Jing Li. Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. J. Finance Account. 2014, 2(4), 90-94. doi: 10.11648/j.jfa.20140204.11

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AMA Style

Li Zhou, Jing Li. Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. J Finance Account. 2014;2(4):90-94. doi: 10.11648/j.jfa.20140204.11

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@article{10.11648/j.jfa.20140204.11,
  author = {Li Zhou and Jing Li},
  title = {Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand},
  journal = {Journal of Finance and Accounting},
  volume = {2},
  number = {4},
  pages = {90-94},
  doi = {10.11648/j.jfa.20140204.11},
  url = {https://doi.org/10.11648/j.jfa.20140204.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20140204.11},
  abstract = {It mainly focuses the consumer strategy behavior effect on retailers pricing mechanism. Under the condition of uncertainty demand, consumers’ strategy behavior influence to price and profit. By introducing a discount factor, considering inventory timely complement and fixed inventory in two cases, obtains purchase decision and dynamic pricing strategies of consumers.},
 year = {2014}
}

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TY  - JOUR
T1  - Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand
AU  - Li Zhou
AU  - Jing Li
Y1  - 2014/08/10
PY  - 2014
N1  - https://doi.org/10.11648/j.jfa.20140204.11
DO  - 10.11648/j.jfa.20140204.11
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 90
EP  - 94
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20140204.11
AB  - It mainly focuses the consumer strategy behavior effect on retailers pricing mechanism. Under the condition of uncertainty demand, consumers’ strategy behavior influence to price and profit. By introducing a discount factor, considering inventory timely complement and fixed inventory in two cases, obtains purchase decision and dynamic pricing strategies of consumers.
VL  - 2
IS  - 4
ER  -

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Author Information

Li Zhou

School of Information, Beijing Wuzi University, Beijing, China
Jing Li

Graduate department, Beijing Wuzi University, Beijing, China

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Plain Text BibTeX RIS

APA Style

Li Zhou, Jing Li. (2014). Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. Journal of Finance and Accounting, 2(4), 90-94. https://doi.org/10.11648/j.jfa.20140204.11

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ACS Style

Li Zhou; Jing Li. Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. J. Finance Account. 2014, 2(4), 90-94. doi: 10.11648/j.jfa.20140204.11

Copy | Download

AMA Style

Li Zhou, Jing Li. Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. J Finance Account. 2014;2(4):90-94. doi: 10.11648/j.jfa.20140204.11

Copy | Download

@article{10.11648/j.jfa.20140204.11,
  author = {Li Zhou and Jing Li},
  title = {Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand},
  journal = {Journal of Finance and Accounting},
  volume = {2},
  number = {4},
  pages = {90-94},
  doi = {10.11648/j.jfa.20140204.11},
  url = {https://doi.org/10.11648/j.jfa.20140204.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20140204.11},
  abstract = {It mainly focuses the consumer strategy behavior effect on retailers pricing mechanism. Under the condition of uncertainty demand, consumers’ strategy behavior influence to price and profit. By introducing a discount factor, considering inventory timely complement and fixed inventory in two cases, obtains purchase decision and dynamic pricing strategies of consumers.},
 year = {2014}
}

Copy | Download

TY  - JOUR
T1  - Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand
AU  - Li Zhou
AU  - Jing Li
Y1  - 2014/08/10
PY  - 2014
N1  - https://doi.org/10.11648/j.jfa.20140204.11
DO  - 10.11648/j.jfa.20140204.11
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 90
EP  - 94
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20140204.11
AB  - It mainly focuses the consumer strategy behavior effect on retailers pricing mechanism. Under the condition of uncertainty demand, consumers’ strategy behavior influence to price and profit. By introducing a discount factor, considering inventory timely complement and fixed inventory in two cases, obtains purchase decision and dynamic pricing strategies of consumers.
VL  - 2
IS  - 4
ER  -

Copy | Download