Markdown or Everyday Low Price? The Role of Behavioral Motives
We study a seller’s optimal pricing and inventory strategies when behavioral (nonpecuniary) motives affect consumers’ purchase decisions. In particular, the seller chooses between two pricing strategies, markdown or everyday low price, and determines the optimal prices and inventory level. Two salie...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Institute for Operations Research and the Management Sciences (INFORMS)
2017
|
| Online Access: | http://hdl.handle.net/1721.1/109421 https://orcid.org/0000-0002-6991-0649 |