Risk averse retail pricing with robust demand forecasting

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dc.contributor.authorFerrer, Juan Carlos
dc.contributor.authorOyarzun, Diego
dc.contributor.authorVera, Jorge
dc.date.accessioned2024-01-10T12:08:17Z
dc.date.available2024-01-10T12:08:17Z
dc.date.issued2012
dc.description.abstractGood demand estimates are the key to effective pricing decision-making. However, they are subject to a high degree of uncertainty due to various factors that are unpredictable or difficult to model, thus making pricing decisions risky. This research provides a simple proposal for a robust optimization methodology that incorporates both demand uncertainty and the decision maker's degree of risk aversion. Uncertainty is explicitly considered for two coefficients of a linear demand function, price expressions are derived, and a criterion is proposed for defining the degree of risk aversion. The resulting model is also applied to an exponential demand case to better reflect a more realistic retail setting. (C) 2011 Elsevier B.V. All rights reserved.
dc.fechaingreso.objetodigital26-03-2024
dc.format.extent10 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.ijpe.2011.09.026
dc.identifier.issn0925-5273
dc.identifier.urihttps://doi.org/10.1016/j.ijpe.2011.09.026
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/76377
dc.identifier.wosidWOS:000300741100017
dc.information.autorucIngeniería;Ferrer J;S/I;86696
dc.information.autorucIngeniería;Oyarzun D;S/I;126968
dc.information.autorucIngeniería;Vera J;S/I;100240
dc.issue.numero1
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final160
dc.pagina.inicio151
dc.publisherELSEVIER SCIENCE BV
dc.revistaINTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
dc.rightsacceso restringido
dc.subjectPricing
dc.subjectRisk aversion
dc.subjectDemand uncertainty
dc.subjectRetail
dc.subjectRevenue management
dc.subjectOPTIMIZATION APPROACH
dc.subjectINVENTORY CONTROL
dc.subjectPRODUCTS
dc.subject.ods12 Responsible Consumption and Production
dc.subject.odspa12 Producción y consumo responsable
dc.titleRisk averse retail pricing with robust demand forecasting
dc.typeartículo
dc.volumen136
sipa.codpersvinculados86696
sipa.codpersvinculados126968
sipa.codpersvinculados100240
sipa.indexWOS
sipa.indexScielo
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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