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A Note on 'Resource Flexibility with Responsive Pricing'

机译:关于“响应式定价的资源灵活性”的注释

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摘要

We revisit the capacity investment decision problem studied in the article "Resource Flexibility with Responsive Pricing" by Chod and Rudi [Operations Research 53, (2005) 532-5481. A monopolist firm producing two dependent (substitutable or complementary) products needs to determine the capacity of one flexible resource under demand risk so as to maximize its expected profit. Product demands are linear functions of the prices of both products, and the market potentials are random and correlated. We perform a comparative statics analysis on how demand variability and correlation impact the optimal capacity and the resulting expected profit. In particular, C&R study this problem under the following assumptions/approximations: (i) demand intercepts follow a bivariate Normal distribution; (ii) demand uncertainty is of an additive form; (iii) and under approximate expressions for the optimal capacity and optimal expected profit. We revisit Propositions 2, 3, 4, 5, and 10 of C&R without these assumptions and approximations, and show that these results continue to hold (i) for the exact expressions for the optimal expected profit and optimal capacity, and (ii) under any arbitrary continuous distribution of demand intercepts. However, we also show that the additive demand uncertainty is a critical assumption for the C&R results to hold. In particular, we provide a case of multiplicative uncertainty under which the C&R results (Propositions 2 and 3) fail.
机译:我们回顾了Chod和Rudi [Operations Research 53,(2005)532-5481]在“具有响应性定价的资源灵活性”中研究的容量投资决策问题。生产两种依赖(可替代或互补)产品的垄断企业需要确定承受需求风险的一种灵活资源的能力,以使其预期利润最大化。产品需求是两种产品价格的线性函数,市场潜力是随机且相关的。我们对需求的可变性和相关性如何影响最佳产能和预期的预期利润进行了比较静态分析。特别是,C&R在以下假设/近似条件下研究了这个问题:(i)需求截距遵循二元正态分布; (ii)需求不确定性是累加形式; (iii)并根据近似表达式获得最佳产能和最佳预期利润。我们在没有这些假设和近似的情况下重新审视了C&R的命题2、3、4、5和10,并表明这些结果继续保持(i)以获得最佳预期利润和最优产能的精确表达式,以及(ii)需求拦截的任意任意连续分布。但是,我们还表明,添加剂需求不确定性是保持C&R结果的关键假设。特别是,我们提供了一个乘法不确定性的案例,在该案例中,C&R结果(命题2和3)失败了。

著录项

  • 来源
    《Naval Research Logistics》 |2010年第2期|119-126|共8页
  • 作者单位

    Grado Department of Industrial and Systems Engineering, Virginia Tech 250 Durham Hall, Blacksburg, Virginia 24061-0118;

    rnGrado Department of Industrial and Systems Engineering, Virginia Tech 250 Durham Hall, Blacksburg, Virginia 24061-0118;

    rnGrado Department of Industrial and Systems Engineering, Virginia Tech 250 Durham Hall, Blacksburg, Virginia 24061-0118;

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  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    resource flexibility; pricing; demand uncertainty;

    机译:资源灵活性;价钱;需求不确定性;

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