Robust Pricing Decisions Considering the Reasonability of Advance Selling Under an Uncertain Demand
This paper considers selling model choice and robust pricing decision for the case in which the demand information is an interval.The main purpose is to analyze the reasonability and the necessity of the advance selling.First,a robust pricing model for the spot-only selling is constructed.By layer-by-layer method,the robust optimal price and the profit of the spot-only selling are obtained.Second,we consider a two-period dynamic selling model.In the advance-selling period,a robust pricing strategy is proposed and then the precise demand information is achieved.In the spot-selling period,the real demand is used to adjust the price.The reasonability of the advance selling is assessed by the profit gained in the advance-selling period.Third,the demand interval is examined according to the risk-neutral criterion,and a judging condition for the necessity of advance selling is presented by considering the lower and upper bound of the demand and the consumers'purchase preference proportion.Finally,two numerical illustrations are designed,to investigate the change of the necessity of advance selling over crucial parameters and the sensitivity of the profit of each selling model with respect to the difference value between the lower bound of the demand and the real demand.
Demand intervalselling model choicerobust pricingthe reasonability of advance selling
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