时间：4月17日（周四）上午10:30
地点：行政楼1004会议室
主讲人：Rachel Q. Zhang 香港科技大学 教授
主持人：周伟华 体育外围平台APP 副院长
主题：The Reference Effects on a Firm's Dynamic Pricing and Inventory Strategies with Strategic Consumers
报告内容：
We consider a retailer that sells the same or different versions of the product season after season. At the beginning of each season (stage 1), the firm places an order and sells the product at the full price. As the sales unfold, the firm has an opportunity to mark down the price (stage 2) to match supply with demand. However, the retailer's markdown strategies in past seasons give strategic consumers an incentive to time their purchases in future seasons. Specifically, consumers will learn from the retailer's past practice and form their expectation or reference on the markdown prices which will influence their purchasing decisions in future seasons. We characterize the properties of the optimal ordering and markdown decisions and show that markdowns, if adopted appropriately, do not necessarily destroy the stability of a business even in the presence of strategic consumers. Furthermore, when under optimal control, consumers'reference should fluctuate around a mean", referred to as mean-reverting, under certain conditions. We conduct numerical studies to investigate the impact of consumer learning in the presence of strategic consumers and various system parameters on the retailer's optimal strategies and profitability.
主讲人简介：
Rachel Q. Zhang is Professor in Industrial Engineering and Logistics Management at the Hong Kong University of Science and Technology. She received her Ph.D. in Industrial Engineering and Management Sciences in 1994 from Northwestern University and was previously a faculty member in the Department of Industrial and Operations Engineering at University of Michigan, and the Johnson Graduate School of Management at Cornell University. Her research interests lie in the general area of operations management and the interface of operations, finance and marketing. Her research has appeared in such journals as Operations Research, Management Science, Interfaces, IIE Transactions, Naval Research Logistics, and Advances in Applied Probability.
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管理科学与工程学系
