Optimal Pricing and Inventory Control Policy with Quantity-Based Price Differentiation.
Ye LuYouhua (Frank) ChenMiao SongXiaoming YanPublished in: Oper. Res. (2014)
Keyphrases
- optimal pricing
- control policy
- admission control
- long run
- inventory level
- order quantity
- dynamic pricing
- optimal policy
- expected cost
- average cost
- reinforcement learning
- single product
- infinite horizon
- inventory control
- lead time
- lost sales
- periodic review
- pricing model
- supply chain
- single item
- markov decision processes
- supply chain management
- state space
- revenue management
- production system
- machine learning
- search algorithm
- customer demand
- multi agent systems
- fixed cost
- search space
- cost function
- multi item
- dynamic programming
- service level
- multistage
- lot sizing