Matches in SemOpenAlex for { <https://semopenalex.org/work/W3122012146> ?p ?o ?g. }
Showing items 1 to 76 of
76
with 100 items per page.
- W3122012146 endingPage "196" @default.
- W3122012146 startingPage "183" @default.
- W3122012146 abstract "SUMMARY Optimal control theory is employed to derive explicitly the optimal (profit-maximizing) price of a durable new product over time. The sales rate dynamics depends on the product price and on the unsold portion of the market. Specifically, the hazard rate (i.e. the probability of a purchase by a new customer) increases as the price decreases in a linear fashion. It is shown that both the price and sales rate decline over time for finite horizon problems with or without discounting. In the discounted infinite horizon case, the price remains constant over time. When there is no discounting in the infinite horizon case, there does not exist an optimal solution. However, it is possible in this case to attain a profit level which is arbitrarily close to the theoretical, albeit unattainable, maximum level profit. Economic interpretations are provided for the various quantities that arise in the course of solving the optimal pricing problem. Copyright # 2003 John Wiley & Sons, Ltd." @default.
- W3122012146 created "2021-02-01" @default.
- W3122012146 creator A5010330805 @default.
- W3122012146 creator A5088868657 @default.
- W3122012146 date "2003-01-01" @default.
- W3122012146 modified "2023-09-28" @default.
- W3122012146 title "Optimal pricing in a hazard rate model of demand" @default.
- W3122012146 cites W1964134303 @default.
- W3122012146 cites W1974890598 @default.
- W3122012146 cites W1983795980 @default.
- W3122012146 cites W1999383777 @default.
- W3122012146 cites W2003455053 @default.
- W3122012146 cites W2006992531 @default.
- W3122012146 cites W2021517213 @default.
- W3122012146 cites W2052750388 @default.
- W3122012146 cites W2055822187 @default.
- W3122012146 cites W2063503935 @default.
- W3122012146 cites W2080684396 @default.
- W3122012146 cites W2092653977 @default.
- W3122012146 cites W2094641143 @default.
- W3122012146 cites W2098133075 @default.
- W3122012146 cites W3123322074 @default.
- W3122012146 cites W4253543067 @default.
- W3122012146 doi "https://doi.org/10.1002/oca.729" @default.
- W3122012146 hasPublicationYear "2003" @default.
- W3122012146 type Work @default.
- W3122012146 sameAs 3122012146 @default.
- W3122012146 citedByCount "32" @default.
- W3122012146 countsByYear W31220121462012 @default.
- W3122012146 countsByYear W31220121462013 @default.
- W3122012146 countsByYear W31220121462014 @default.
- W3122012146 countsByYear W31220121462015 @default.
- W3122012146 countsByYear W31220121462016 @default.
- W3122012146 countsByYear W31220121462018 @default.
- W3122012146 countsByYear W31220121462019 @default.
- W3122012146 countsByYear W31220121462020 @default.
- W3122012146 countsByYear W31220121462021 @default.
- W3122012146 countsByYear W31220121462022 @default.
- W3122012146 crossrefType "journal-article" @default.
- W3122012146 hasAuthorship W3122012146A5010330805 @default.
- W3122012146 hasAuthorship W3122012146A5088868657 @default.
- W3122012146 hasConcept C144237770 @default.
- W3122012146 hasConcept C149782125 @default.
- W3122012146 hasConcept C162324750 @default.
- W3122012146 hasConcept C178790620 @default.
- W3122012146 hasConcept C185592680 @default.
- W3122012146 hasConcept C41008148 @default.
- W3122012146 hasConcept C49261128 @default.
- W3122012146 hasConceptScore W3122012146C144237770 @default.
- W3122012146 hasConceptScore W3122012146C149782125 @default.
- W3122012146 hasConceptScore W3122012146C162324750 @default.
- W3122012146 hasConceptScore W3122012146C178790620 @default.
- W3122012146 hasConceptScore W3122012146C185592680 @default.
- W3122012146 hasConceptScore W3122012146C41008148 @default.
- W3122012146 hasConceptScore W3122012146C49261128 @default.
- W3122012146 hasIssue "4" @default.
- W3122012146 hasLocation W31220121461 @default.
- W3122012146 hasOpenAccess W3122012146 @default.
- W3122012146 hasPrimaryLocation W31220121461 @default.
- W3122012146 hasRelatedWork W1973538245 @default.
- W3122012146 hasRelatedWork W2013444265 @default.
- W3122012146 hasRelatedWork W2021570049 @default.
- W3122012146 hasRelatedWork W2023446719 @default.
- W3122012146 hasRelatedWork W2030617584 @default.
- W3122012146 hasRelatedWork W2056210026 @default.
- W3122012146 hasRelatedWork W2899084033 @default.
- W3122012146 hasRelatedWork W3149328373 @default.
- W3122012146 hasRelatedWork W331667891 @default.
- W3122012146 hasRelatedWork W2142213187 @default.
- W3122012146 hasVolume "24" @default.
- W3122012146 isParatext "false" @default.
- W3122012146 isRetracted "false" @default.
- W3122012146 magId "3122012146" @default.
- W3122012146 workType "article" @default.