کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
480708 1446092 2011 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Dynamic lot-sizing in sequential online retail auctions
موضوعات مرتبط
مهندسی و علوم پایه مهندسی کامپیوتر علوم کامپیوتر (عمومی)
پیش نمایش صفحه اول مقاله
Dynamic lot-sizing in sequential online retail auctions
چکیده انگلیسی

Retailers often conduct non-overlapping sequential online auctions as a revenue generation and inventory clearing tool. We build a stochastic dynamic programming model for the seller’s lot-size decision problem in these auctions. The model incorporates a random number of participating bidders in each auction, allows for any bid distribution, and is not restricted to any specific price-determination mechanism. Using stochastic monotonicity/stochastic concavity and supermodularity arguments, we present a complete structural characterization of optimal lot-sizing policies under a second order condition on the single-auction expected revenue function. We show that a monotone staircase with unit jumps policy is optimal and provide a simple inequality to determine the locations of these staircase jumps. Our analytical examples demonstrate that the second order condition is met in common online auction mechanisms. We also present numerical experiments and sensitivity analyses using real online auction data.


► Rigorously proves the structure of optimal lot-sizing policies in sequential online retail auctions of identical items.
► Focuses on sellers who pre-commit to a lot-size at the beginning of each auction.
► Incorporates uncertainty in the number of participating bidders and in their willingness-to-pay.
► Includes numerical illustrations using real online data.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Journal of Operational Research - Volume 215, Issue 1, 16 November 2011, Pages 257–267
نویسندگان
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