Price optimization with reference price effects: A generalized Benders' decomposition method and a myopic heuristic approach

被引：11
|
作者：
Shams-Shoaaee, Seyed Shervin [1 ]
Hassini, Elkafi [2 ]
机构：
[1] McMaster Univ, Sch Computat Sci & Engn, Hamilton, ON, Canada
[2] McMaster Univ, DeGroote Sch Business, Hamilton, ON, Canada
来源：
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH | 2020年 / 280卷 / 02期
关键词：
Pricing; Reference pricing; Mixed-integer nonlinear programming; Generalized Benders' decomposition; STRATEGY; ACCEPTANCE; LATITUDE;
D O I：
10.1016/j.ejor.2019.07.020
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
We consider a multi-period revenue maximization and pricing optimization problem in the presence of reference prices. We formulate the problem as a mixed integer nonlinear program and develop a generalized Benders' decomposition algorithm to solve it. In addition, we propose a myopic heuristic and discuss the conditions under which it produces efficient solutions. We provide analytical results as well as numerical computations to illustrate the efficiency of the solution approaches as well as some managerial pricing insights. (C) 2019 Elsevier B.V. All rights reserved.
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页码：555 / 567
页数：13
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