Multi-period optimization with loss-averse customer behavior: Joint pricing and inventory decisions with stochastic demand
作者：
Highlights：
• We also provide a framework for building the expert system from the perspective of behavior science.
• We develop a multi-period demand model with loss-averse customer.
• We analyze periodic-review inventory system under loss-averse behavior.
• We show that high loss aversion intensity decreases the profit.
• If the firm cannot realize the existence of customers behavior, it loses profit.
摘要
•We also provide a framework for building the expert system from the perspective of behavior science.•We develop a multi-period demand model with loss-averse customer.•We analyze periodic-review inventory system under loss-averse behavior.•We show that high loss aversion intensity decreases the profit.•If the firm cannot realize the existence of customers behavior, it loses profit.
论文关键词：Loss aversion,Dynamic pricing,Inventory control,Uncertain demand
论文评审过程：Received 24 March 2015, Revised 15 October 2016, Accepted 16 October 2016, Available online 5 November 2016, Version of Record 2 January 2017.
论文官网地址：https://doi.org/10.1016/j.eswa.2016.10.034
