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1.
We consider a competitive location problem in which a new firm has to make decisions on the locations of several new facilities as well as on its price setting in order to maximise profit. Under the assumption of discriminatory prices, competing firms set a specific price for each market area. The customers buy one unit of a single homogeneous price-inelastic product from the facility that offers the lowest price in the area the consumers belong to. Three customer choice rules are considered in order to break ties in the offered prices. We prove that, considering long-term competition on price, this problem can be reduced to a problem with decisions on location only. For each one of the choice rules the location problem is formulated as an integer programming model and a parametric analysis of these models is given. To conclude, an application with real data is presented.  相似文献   

2.
In many service industries, the firm adjusts the product price dynamically by taking into account the current product inventory and the future demand distribution. Because the firm can easily monitor the product inventory, the success of dynamic pricing relies on an accurate demand forecast. In this paper, we consider a situation where the firm does not have an accurate demand forecast, but can only roughly estimate the customer arrival rate before the sale begins. As the sale moves forward, the firm uses real-time sales data to fine-tune this arrival rate estimation. We show how the firm can first use this modified arrival rate estimation to forecast the future demand distribution with better precision, and then use the new information to dynamically adjust the product price in order to maximize the expected total revenue. Numerical study shows that this strategy not only is nearly optimal, but also is robust when the true customer arrival rate is much different from the original forecast. Finally, we extend the results to four situations commonly encountered in practice: unobservable lost customers, time dependent arrival rate, batch demand, and discrete set of allowable prices.  相似文献   

3.
Given a geographical system of demand functions, the simple-plant location problem under uniform delivered pricing consists in determining the delivered price taken as uniform for all customers, the number, the locations, the sizes and the market areas of the plants which supply these customers, in order to maximize the profit of the firm. A model is proposed, which allows, moreover, to integrate some aspects of the commercial policy of the firm, i.e., its decision to satisfy all markets with positive demands or profitable markets only, or to allow a maximum unit loss or require a minimum unit gain on each served market. An efficient algorithm is presented and illustrated by an example. Computational results with a code using recursively Erlenkotter's DUALOC program as a subroutine are summarized.  相似文献   

4.
We consider the problem of stock repurchase over a finite time horizon. We assume that a firm has a reservation price for the stock, which is the highest price that the firm is willing to pay to repurchase its own stock. We characterize the optimal policy for the trader to maximize the total number of shares that they can buy over a fixed time horizon. In particular, we study a greedy policy, which involves in each period buying a quantity that drives stock price to the reservation price.  相似文献   

5.
We are concerned with a problem in which a firm or franchise enters a market by locating new facilities where there are existing facilities belonging to a competitor. The firm aims at finding the location and attractiveness of each facility to be opened so as to maximize its profit. The competitor, on the other hand, can react by adjusting the attractiveness of its existing facilities with the objective of maximizing its own profit. The demand is assumed to be aggregated at certain points in the plane and the facilities of the firm can be located at predetermined candidate sites. We employ Huff’s gravity-based rule in modeling the behavior of the customers where the fraction of customers at a demand point that visit a certain facility is proportional to the facility attractiveness and inversely proportional to the distance between the facility site and demand point. We formulate a bilevel mixed-integer nonlinear programming model where the firm entering the market is the leader and the competitor is the follower. In order to find the optimal solution of this model, we convert it into an equivalent one-level mixed-integer nonlinear program so that it can be solved by global optimization methods. Apart from reporting computational results obtained on a set of randomly generated instances, we also compute the benefit the leader firm derives from anticipating the competitor’s reaction of adjusting the attractiveness levels of its facilities. The results on the test instances indicate that the benefit is 58.33% on the average.  相似文献   

6.
This investigation addresses a service inventory control problem in which a firm orders and sells a service which will be used or consumed by customers on a specific future date. The firm sells the product through an advance booking system, aiming to optimize product price to maximize the total expected profit. Considering situations in which product demand is price-dependent and customers with reservations may cancel advance orders, this work develops a continuous-time model to simultaneously determine the order quantity and selling prices. The analytical results reveal that the optimal ordering quantity and prices are derived via closed-form solutions. In addition, sensitivity analysis of the optimal prices with respect to the system parameters is also conducted to illustrate optimal decision characteristics.  相似文献   

7.
** E-mail: pelegrin{at}um.es Firms normally use either a mill price or a delivered pricepolicy, depending on market conditions (type of good, transportationway, customers location, costs, etc). In this paper, the problemof selecting the best location for an entering firm in competitionwith some pre-existing firms, under each price policy, is studiedon a network for the first time. With mill pricing, an equilibriumin price rarely exists and it is assumed that all competingfirms set a common mill price for all customers. With deliveredpricing, there exists a Nash equilibrium in price and it isassumed that the equilibrium price in each area is offered tothe customers in that area. In both cases, we consider thatcustomers buy from the cheapest facility and the same rulesare used for tie breaking in the lowest cost. While the profitmaximization problem for the entering firm always has optimalsolutions under mill pricing, this problem might not have anoptimal solution under delivered pricing. We show some discretizationresults and give procedures to find the full set of optimal,or -optimal, solutions to the problem under the two price policies.A comparison of results with the two price policies is givenby using an illustrative example.  相似文献   

8.
This paper is concerned with the characterization of optimal strategies for a service firm acting in an oligopolistic environment. The decision problem is formulated as a leader–follower game played on a transportation network, where the leader firm selects a revenue-maximizing price schedule that takes explicitly into account the rational behavior of the customers. In the context of our analysis, the follower’s problem is associated with a competitive network market involving non atomic customer groups. The resulting bilevel model can therefore be viewed as a model of product differentiation subject to structural network constraints.  相似文献   

9.
In this paper, we present the problem of optimizing the location and pricing for a set of new service facilities entering a competitive marketplace. We assume that the new facilities must charge the same (uniform) price and the objective is to optimize the overall profit for the new facilities. Demand for service is assumed to be concentrated at discrete demand points (customer markets); customers in each market patronize the facility providing the highest utility. Customer demand function is assumed to be elastic; the demand is affected by the price, facility attractiveness, and the travel cost for the highest-utility facility. We provide both structural and algorithmic results, as well as some managerial insights for this problem. We show that the optimal price can be selected from a certain finite set of values that can be computed in advance; this fact is used to develop an efficient mathematical programming formulation for our model.  相似文献   

10.
We consider a generalization of the uncapacitated facility location problem, where the setup cost for a facility and the price charged for service may depend on the number of customers patronizing the facility. Customers are represented by the nodes of the transportation network, and facilities can be located only at nodes; a customer selects a facility to patronize so as to minimize his (her) expenses (price for service + the part of transportation costs paid by the customer). We assume that transportation costs are paid partially by the service company and partially by customers. The objective is to choose locations for facilities and balanced prices so as to either minimize the expenses of the service company (the sum of the total setup cost and the total part of transportation costs paid by the company), or to maximize the total profit. A polynomial-time dynamic programming algorithm for the problem on a tree network is developed.  相似文献   

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