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Limit price
About: Limit price is a research topic. Over the lifetime, 4865 publications have been published within this topic receiving 148546 citations.
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TL;DR: In this paper, the authors present a method for evaluation of investments in decentralized renewable power generation under price uncertainty, where the problem is to find the price intervals and the capacity of the generator at which to invest.
Abstract: This paper presents a method for evaluation of investments in decentralized renewable power generation under price uncertainty. The analysis is applicable for a building owner with an electricity load and a renewable resource that can be utilized for power generation. The owner of the building has a deferrable opportunity to invest in one local power generating unit, with the objective to maximize the profits from the opportunity. Renewable electricity generation can serve local load when generation and load coincide in time, and surplus power can be exported to the grid. The problem is to find the price intervals and the capacity of the generator at which to invest. Results from a case with wind power generation for an office building suggests it is optimal to wait for higher prices than the net present value break-even price under price uncertainty, and that capacity choice can depend on the current market price and the price volatility. With low price volatility there can be more than one investment price interval for different units with intermediate waiting regions between them. High price volatility increases the value of the investment opportunity, and therefore, makes it more attractive to postpone investment until larger units are profitable.
41 citations
41 citations
TL;DR: In this article, a periodic review joint replenishment and pricing problem of a single item with reference effects is considered, where the demand is random and is contingent on the price history as well as the current price.
Abstract: This article considers a periodic review joint replenishment and pricing problem of a single item with reference effects. The demand is random and is contingent on the price history as well as the current price. Randomness is introduced with both an additive and a multiplicative random term. Price history is captured by a reference price, which is developed by consumers that are frequent buyers of a product or a service. The common reference price acts as a benchmark against which the consumers compare the price of a product. They perceive the difference between the price and the reference price as a loss or a gain and have different attitudes to these perceptions, such as loss aversion, loss neutrality, or loss seeking. A general way to handle the nonconvexity of the holding cost for nonlinear demand models is to make a transformation and use the inverse demand function. However, in reference price-dependent demand models, this brings the problem of a nonconvex action space. This problem is circumvented ...
41 citations
TL;DR: In this article, the authors focus on the joint pricing and procurement of fashion products in the existence of clearance markets and show that the expected profit function is unimodal and the optimal procurement quantity and price can be found from the first order conditions.
41 citations
TL;DR: Econometric models of the U.S. computer market have been developed to study the relationships between system price and hardware performance, revealing a market dichotomy which is relatively unstable with low price predictability.
Abstract: Econometric models of the U.S. computer market have been developed to study the relationships between system price and hardware performance. Single measures of price/performance such as “Grosch's Law” are shown to be so oversimplified as to be meaningless. Multiple-regression models predicting system cost as a function of several hardware characteristics do, however, reveal a market dichotomy. On one hand there exists a stable, price predictable market for larger, general purpose computer systems. The other market is the developing one for small business computer systems, a market which is relatively unstable with low price predictability.
41 citations