Related papers: A mathematical model for pricing perishable goods …

We study the bilateral trade problem: one seller, one buyer and a single, indivisible item for sale. It is well known that there is no fully-efficient and incentive compatible mechanism for this problem that maintains a balanced budget. We…

This paper develops a new model of business cycles. The model is economical in that it is solved with an aggregate demand-aggregate supply diagram, and the effects of shocks and policies are obtained by comparative statics. The model builds…

Retail sales and price projections are typically based on time series forecasting. For some product categories, the accuracy of demand forecasts achieved is low, negatively impacting inventory, transport, and replenishment planning. This…

One of the major barriers for the retailers is to understand the consumption elasticity they can expect from their contracted demand response (DR) clients. The current trend of DR products provided by retailers are not consumer-specific,…

The present study considers the rural pharmaceutical retail sector in India, where the arrival of organized retailers and e-retailers is testing the survival strategies of unorganized retailers. Grounded in a field investigation of the…

Most of the research in the recommender systems domain is focused on the optimization of the metrics based on historical data such as Mean Average Precision (MAP) or Recall. However, there is a gap between the research and industry since…

We consider price competition among multiple sellers over a selling horizon of $T$ periods. In each period, sellers simultaneously offer their prices (which are made public) and subsequently observe their respective demand (not made…

This paper introduces an information-based model for the pricing of storable commodities such as crude oil and natural gas. The model uses the concept of market information about future supply and demand as a basis for valuation. Physical…

In developing countries like India agriculture plays an extremely important role in the lives of the population. In India, around 80\% of the population depend on agriculture or its by-products as the primary means for employment. Given…

E-grocery retailing enables ordering products online to be delivered at a future time slot chosen by the customer. This emerging field of business provides retailers with large and comprehensive new data sets, yet creates several challenges…

We study a large economy in which firms cannot compute exact solutions to the non-linear equations that characterize the equilibrium price at which they can sell future output. Instead, firms use polynomial expansions to approximate prices.…

In recent years, with rising consumer demand, fresh products have gained increasing attention, leading to rapid growth in the fresh food market. However, due to their perishable nature and sensitivity to storage conditions, fresh products…

We study the dynamic pricing problem faced by a monopolistic retailer who sells a storable product to forward-looking consumers. In this framework, the two major pricing policies (or mechanisms) studied in the literature are the…

We study the problem of learning the optimal item pricing for a unit-demand buyer with independent item values, and the learner has query access to the buyer's value distributions. We consider two common query models in the literature: the…

Social commerce platforms are emerging businesses where producers sell products through re-sellers who advertise the products to other customers in their social network. Due to the increasing popularity of this business model, thousands of…

Increases in global food prices have led to widespread hunger and social unrest---and an imperative to understand their causes. In a previous paper published in September 2011, we constructed for the first time a dynamic model that…

Localisation and circularity in perishable food supply chains are essential for sustainability. Poor allocation of time-sensitive food leads to waste, higher transport emissions, and unnecessary long-distance sourcing. Algorithms used in…

One of the problems faced by a firm that sells certain commodities is to determine the number of products that it must supply in order to maximize its profit. In this article, the authors give an answer to this problem of economic interest.…

India's growing population and economy have significantly increased the demand and consumption of natural resources. As a result, the potential benefits of transitioning to a circular economic model have been extensively discussed and…

With the rapid growth in the fashion e-commerce industry, it is becoming extremely challenging for the E-tailers to set an optimal price point for all the products on the platform. By establishing an optimal price point, they can maximize…