Global optimisation for a developed price discrimination model: A signomial geometric programming-based approach
| Autor: | Ali Emrouznejad, Saman Moradi, Hashem Omrani |
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| Rok vydání: | 2020 |
| Předmět: |
TheoryofComputation_MISCELLANEOUS
Marketing Mathematical optimization Computer science Strategy and Management Price discrimination Management Science and Operations Research Management Information Systems ComputingMethodologies_PATTERNRECOGNITION Production planning Order (exchange) Fair value Signomial Perfect competition Monopoly Geometric programming |
| Zdroj: | Journal of the Operational Research Society. 72:612-627 |
| ISSN: | 1476-9360 0160-5682 |
| DOI: | 10.1080/01605682.2019.1678408 |
| Popis: | This paper presents a price discrimination model for a manufacturer who acts in two different markets. In order to have a fair price discrimination model and compare monopoly and competitive markets, it is assumed that there is no competitor in the first market (monopoly market) and there is a strong competitor in the other market (competitive market). The manufacturer objective is to maximize the total benefit in both markets. The decision variables are selling price, lot size, marketing expenditure, customer service cost, flexibility and reliability of production process, set up costs and quality of products. The proposed model in this paper is a signomial geometric programming problem which is difficult to solve and find the globally optimal solution. So, this signomial model is converted to a posynomial geometric type and using an iterative method, the globally optimal solution is found. To illustrate the capability of the proposed model, a numerical example is solved and the sensitivity analysis is implemented under different conditions. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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