| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP224
|
| DP224 A Search Model of Optimal Pricing and Production |
| Dennis Snower; Steve Alpern
|
| 发表日期 | 1988-03-01
|
| 出版年 | 1988
|
| 语种 | 英语
|
| 摘要 | This paper presents an overview of the application of the mathematical theory of 'high-low' search to firms' pricing and production decisions. We show how this methodology can be used to determine an optimal sequence of price-quantity decisions by a firm through time. We suppose that the firm chooses a sequence of prices and quantities supplied over time not only with a view to earning current profit (given the current information about the demand curve) but also in order to acquire information about the demand curve by observing its inventory stocks as a result of these price and quantity decisions. We compare and contrast the high-low model with the conventional microeconomic model of pricing and production. We show how the firm uses its pricing and production decisions to partition the uncertainty interval it faces and thereby influence the value of the information which it receives. |
| 关键词 | Decision theory
Inventories
Optimal pricing
Production
Search
|
| URL | https://cepr.org/publications/dp224
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529382
|
推荐引用方式
GB/T 7714 |
Dennis Snower,Steve Alpern. DP224 A Search Model of Optimal Pricing and Production. 1988.
|
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