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Dynamic inventory and price controls involving unknown demand on discrete nonperishable items
Descriptive
TitleInfo
Title
Dynamic inventory and price controls involving unknown demand on discrete nonperishable items
Name
(type = personal)
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Zhou
NamePart
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Tingting
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Tingting Zhou
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author
Name
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Yang
NamePart
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Jian
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Jian Yang
Affiliation
Advisory Committee
Role
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chair
Name
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NamePart
Rutgers University
Role
RoleTerm
(authority = RULIB)
degree grantor
Name
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NamePart
Graduate School - Newark
Role
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school
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Text
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theses
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2018
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2018-05
Language
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English
Abstract
(type = abstract)
We study adaptive policies that handle dynamic inventory and price controls when the random demand for discrete nonperishable items is unknown. Pure inventory control is achieved by targeting newsvendor ordering quantities that correspond to empirical demand distributions learned over time. On this basis we conduct the more complex joint inventory-price control, where demand-affecting prices await to be evaluated as well. We identify policies that strive to balance between exploration and exploitation, and measure their performances via regrets, i.e., the prices to pay for not knowing demand distributions a priori}over a given horizon. Multiple bounds are derived on regrets' growth rates; they vary with how thoroughly unknown the demand distributions are and whether nonperishability has indeed been accounted for. A simulation study shows that our policies compare favorably with other potential candidates.
Subject
(authority = RUETD)
Topic
Management
Subject
(authority = LCSH)
Topic
Pricing
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Title
Rutgers University Electronic Theses and Dissertations
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ETD_8987
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Extent
1 online resource (iii, 116 pages) : illustrations
Note
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Ph.D.
Note
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Includes bibliographical references
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Title
Graduate School - Newark Electronic Theses and Dissertations
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rucore10002600001
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NjNbRU
Identifier
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doi:10.7282/t3-rgv1-ra80
Genre
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ETD doctoral
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Rights
RightsDeclaration
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The author owns the copyright to this work.
RightsHolder
(type = personal)
Name
FamilyName
Zhou
GivenName
Tingting
Role
Copyright Holder
RightsEvent
Type
Permission or license
DateTime
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2018-04-30 14:57:06
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Name
Tingting Zhou
Role
Copyright holder
Affiliation
Rutgers University. Graduate School - Newark
AssociatedObject
Type
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Name
Author Agreement License
Detail
I hereby grant to the Rutgers University Libraries and to my school the non-exclusive right to archive, reproduce and distribute my thesis or dissertation, in whole or in part, and/or my abstract, in whole or in part, in and from an electronic format, subject to the release date subsequently stipulated in this submittal form and approved by my school. I represent and stipulate that the thesis or dissertation and its abstract are my original work, that they do not infringe or violate any rights of others, and that I make these grants as the sole owner of the rights to my thesis or dissertation and its abstract. I represent that I have obtained written permissions, when necessary, from the owner(s) of each third party copyrighted matter to be included in my thesis or dissertation and will supply copies of such upon request by my school. I acknowledge that RU ETD and my school will not distribute my thesis or dissertation or its abstract if, in their reasonable judgment, they believe all such rights have not been secured. I acknowledge that I retain ownership rights to the copyright of my work. I also retain the right to use all or part of this thesis or dissertation in future works, such as articles or books.
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Embargo
DateTime
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2018-05-31
DateTime
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2020-05-30
Detail
Access to this PDF has been restricted at the author's request. It will be publicly available after May 30th, 2020.
Copyright
Status
Copyright protected
Availability
Status
Open
Reason
Permission or license
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Technical
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windows xp
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2018-05-16T16:25:46
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2018-05-16T16:25:46
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