Adaptive ordering and pricing for perishable products

被引：87

作者：

Burnetas, AN ^{[1
]}

Smith, CE ^{[1
]}

机构：

[1] Case Western Reserve Univ, Weatherhead Sch Management, Dept Operat Res & Operat Management, Cleveland, OH 44106 USA

来源：

OPERATIONS RESEARCH | 2000年 / 48卷 / 03期

关键词：

D O I：

10.1287/opre.48.3.436.12437

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

We consider the combined problem of pricing and ordering for a perishable product with unknown demand distribution and censored demand observations resulting from lost sales, faced by a monopolistic retailer. We develop an adaptive pricing and ordering policy with the asymptotic property that the average realized profit per period converges with probability one to the optimal value under complete information on the distribution. The pricing mechanism is modeled as a multiarmed bandit problem, while the order quantity decision, made after the price level is established, is based on a stochastic approximation procedure with multiplicative updates.

引用

页码：436 / 443

页数：8

共 25 条

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