Peng Hu

TL;DR: A transformation technique is introduced that allows for the optimality of a reference-price-dependent base-stock list-price policy, which is characterized by a base- stock level and a target reference price, and shows that in the steady state of the model with the reference price effect, the optimal price is lower while the optimal base-stocks level is higher than their counterparts in the model without the reference prices.

TL;DR: A finite-horizon dynamic pricing model in which demand at each period depends on not only the current price but also past prices through reference prices, which enables strongly polynomial-time algorithms to compute the optimal prices for several plausible scenarios to provide an upper bound on the optimal objective value.

TL;DR: It is shown for a special case that a cyclic skimming pricing strategy is optimal, and conditions to guarantee the optimality of high-low pricing strategies are provided.

TL;DR: A novel model on a firm’s dynamic inventory and markdown decisions for perishable goods, where every period consists of two phases, clearance phase and regular-sales phase, shows that the firm should either put all of the leftover inventory on discount or dispose all of it, and the choice depends on the amount of leftover inventory from the previous period.

TL;DR: A joint inventory and pricing model of a single product over a finite planning horizon with deterministic demand with polynomial time algorithms to maximize the total profit is analyzed.