Optimal Dynamic Pricing Policies of ShortLifeCycle  Products for Hybrid Consumers

Abstract

Abstract: The dynamic pricing problem of shortlifecycle products is discussed for an environment with strategic and nonstrategic consumer coexistence.Firstly, a game theory process between a retailer and its consumers is analyzed, and the optimal purchasing policies of the consumers are determined.Then, demand models at different times are established and the consumers’ behaviors are analyzed.Finally, the optimal dynamic pricing policy is introduced for the maximization of overall revenues of the above two stages.

Key words: strategic consumers, dynamic pricing, consumer behavior, short life cycle product

CLC Number:

F224

Shen Cheng-lin1, Zhang Xin-xin2. Optimal Dynamic Pricing Policies of ShortLifeCycle Products for Hybrid Consumers[J]. Industrial Engineering Journal , 2011, 14(1): 38-42.

References

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Optimal Dynamic Pricing Policies of ShortLifeCycle Products for Hybrid Consumers

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