scispace - formally typeset
Search or ask a question
Author

Wedad Elmaghraby

Bio: Wedad Elmaghraby is an academic researcher from University of Maryland, College Park. The author has contributed to research in topics: Common value auction & Bidding. The author has an hindex of 17, co-authored 38 publications receiving 2575 citations. Previous affiliations of Wedad Elmaghraby include New York University & Georgia Institute of Technology.

Papers
More filters
Journal ArticleDOI
TL;DR: In this paper, a review of the literature and current practices in dynamic pricing is presented, where the focus is on dynamic (intertemporal) pricing in the presence of inventory considerations.
Abstract: The benefits of dynamic pricing methods have long been known in industries, such as airlines, hotels, and electric utilities, where the capacity is fixed in the short-term and perishable. In recent years, there has been an increasing adoption of dynamic pricing policies in retail and other industries, where the sellers have the ability to store inventory. Three factors contributed to this phenomenon: (1) the increased availability of demand data, (2) the ease of changing prices due to new technologies, and (3) the availability of decision-support tools for analyzing demand data and for dynamic pricing. This paper constitutes a review of the literature and current practices in dynamic pricing. Given its applicability in most markets and its increasing adoption in practice, our focus is on dynamic (intertemporal) pricing in the presence of inventory considerations.

1,081 citations

Journal ArticleDOI
TL;DR: An overview of the research that has been done in the fields of operations research and economics on the topic of sourcing strategies is provided to provide a blueprint of what market characteristics can heavily influence a buyer-supplier relationship and are important to identify and incorporate into the supplier selection process.
Abstract: Advances in information technology have opened new venues for companies to create flexible supply chains by offering high-speed communication and tight connectivity. A growing number of companies are taking advantage of new opportunities to outsource portions of their production and other operations. Given the importance of the supplier selection process in the ultimate success of a product, a purchasing manager must understand the different sourcing strategies that she or he can use and the suitability of each sourcing arrangements for her or him. This paper provides an overview of the research that has been done in the fields of operations research and economics on the topic of sourcing strategies. In aggregate, this paper provides a blueprint of what market characteristics can heavily influence a buyer-supplier relationship and, hence, are important to identify and incorporate into the supplier selection process.

259 citations

Proceedings ArticleDOI
03 Dec 2003
TL;DR: Computational results in teambots, a multi-robot simulator, indicate that combinatorial auctions generally lead to significantly superior team performance than single-item auctions, and generate very good results compared to an optimal centralized mechanism.
Abstract: We study how to coordinate a team of mobile robots to visit a number of given targets in a partially unknown terrain. Robotics researchers have studied single-item auctions to perform this exploration task but these do not make synergies between the targets into account. We therefore design combinatorial auctions, propose different combinatorial bidding strategies and compare their performance with each other, as well as to single item auctions and an optimal centralized mechanism. Our computational results in teambots, a multi-robot simulator, indicate that combinatorial auctions generally lead to significantly superior team performance than single-item auctions, and generate very good results compared to an optimal centralized mechanism.

196 citations

Journal ArticleDOI
TL;DR: This work examines the optimal design of a markdown pricing mechanism with preannounced prices in the presence of rational or strategic buyers who demand multiple units and provides a number of managerial insights into designing profitable markdown mechanisms.
Abstract: We analyze the optimal design of a markdown pricing mechanism with preannounced prices. In the presence of limited supply, buyers who choose to purchase at a lower price may face a scarcity in supply. Our focus is on the structure of the optimal markdown mechanisms in the presence of rational or strategic buyers who demand multiple units. We first examine a complete information setting where the set of customer valuations is known but the seller does not know the valuation of each individual customer (i.e., cannot exercise perfect price discrimination). We then generalize our analysis to an incomplete valuation information setting where customer valuations are drawn from known distributions. For both settings, we compare the seller's profit resulting from the optimal markdown mechanism and the optimal single price. We provide a number of managerial insights into designing profitable markdown mechanisms.

196 citations

Book ChapterDOI
01 Jan 2004
TL;DR: This paper focuses on price discovery mechanisms, where prices are determined via a bidding process and can be dynamic, i.e., the seller may offer different prices to different customers or change prices dynamically over time.
Abstract: Making the “right” pricing decision in sales or procurement is a complex task. While the types of pricing policies/methods used in the exchange of goods and services vary greatly, we can divide these mechanisms under two broad categories: posted price mechanisms and price discovery mechanisms. Under a posted price mechanism, a good is sold at a take-it-or-leave-it price determined by the seller. A posted price can be dynamic, i.e., the seller may offer different prices to different customers (customized prices) or change prices dynamically over time (intertemporal prices). In a price discovery mechanism, prices are determined via a bidding process.

154 citations


Cited by
More filters
Journal ArticleDOI
01 May 1981
TL;DR: This chapter discusses Detecting Influential Observations and Outliers, a method for assessing Collinearity, and its applications in medicine and science.
Abstract: 1. Introduction and Overview. 2. Detecting Influential Observations and Outliers. 3. Detecting and Assessing Collinearity. 4. Applications and Remedies. 5. Research Issues and Directions for Extensions. Bibliography. Author Index. Subject Index.

4,948 citations

Journal ArticleDOI
TL;DR: In this paper, the authors present a review of various quantitative models for managing supply chain risks and relate various supply chain risk management strategies examined in the research literature with actual practices, highlighting the gap between theory and practice, and motivate researchers to develop new models for mitigating supply chain disruptions.

2,085 citations

Proceedings Article
08 Jun 2009
TL;DR: It is argued that the process of searching the literature must be comprehensibly described and readers assess the exhaustiveness of the review and other scholars in the field can more confidently (re)use the results in their own research.
Abstract: Science is a cumulative endeavour as new knowledge is often created in the process of interpreting and combining existing knowledge. This is why literature reviews have long played a decisive role in scholarship. The quality of literature reviews is particularly determined by the literature search process. As Sir Isaac Newton eminently put it: If I can see further, it is because I am standing on the shoulders of giants. Drawing on this metaphor, the goal of writing a literature review is to reconstruct the giant of accumulated knowledge in a specific domain. And in doing so, a literature search represents the fundamental first step that makes up the giant's skeleton and largely determines its reconstruction in the subsequent literature analysis. In this paper, we argue that the process of searching the literature must be comprehensibly described. Only then can readers assess the exhaustiveness of the review and other scholars in the field can more confidently (re)use the results in their own research. We set out to explore the methodological rigour of literature review articles published in ten major information systems (IS) journals and show that many of these reviews do not thoroughly document the process of literature search. The results drawn from our analysis lead us to call for more rigour in documenting the literature search process and to present guidelines for crafting a literature review and search in the IS domain.

1,383 citations

Book
09 Dec 2005
TL;DR: It's important for you to start having that hobby that will lead you to join in better concept of life and reading will be a positive activity to do every time.
Abstract: combinatorial auctions What to say and what to do when mostly your friends love reading? Are you the one that don't have such hobby? So, it's important for you to start having that hobby. You know, reading is not the force. We're sure that reading will lead you to join in better concept of life. Reading will be a positive activity to do every time. And do you know our friends become fans of combinatorial auctions as the best book to read? Yeah, it's neither an obligation nor order. It is the referred book that will not make you feel disappointed.

1,139 citations

Journal ArticleDOI
21 Aug 2006
TL;DR: An introduction to market-based multirobot coordination is provided, a review and analysis of the state of the art in the field, and a discussion of remaining research challenges are discussed.
Abstract: Market-based multirobot coordination approaches have received significant attention and are growing in popularity within the robotics research community. They have been successfully implemented in a variety of domains ranging from mapping and exploration to robot soccer. The research literature on market-based approaches to coordination has now reached a critical mass that warrants a survey and analysis. This paper addresses this need for a survey of the relevant literature by providing an introduction to market-based multirobot coordination, a review and analysis of the state of the art in the field, and a discussion of remaining research challenges

896 citations