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Article: Usefulness of resale price maintenance under different levels of sales-effort cost and system-parameter uncertainties

TitleUsefulness of resale price maintenance under different levels of sales-effort cost and system-parameter uncertainties
Authors
KeywordsContract design
Resale price maintenance
Supply-chain pricing
Issue Date2010
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor
Citation
European Journal Of Operational Research, 2010, v. 203 n. 2, p. 513-525 How to Cite?
AbstractThis paper on "resale price maintenance" (RPM) has three main parts:(i)Using a simple and parsimonious model, we show that even with only one retailer, a "supplier" or "manufacturer" (hereafter "Manu") should impose minimum-RPM under some circumstances but maximum-RPM in others. These two sets of circumstances are defined by a very simple formula.(ii)While most earlier RPM models assume that the decision makers have deterministic knowledge of the system parameters, we present formulations and solution procedures for optimizing RPM schemes when Manu is uncertain about a system parameter's value.(iii)We show that if Manu has to estimate certain key system parameters under uncertainties, then in many situations RPM rapidly becomes unattractive even when these uncertainties are still quite low. This constitutes one often-applicable explanation why RPM is not as widely used as it should be theoretically. © 2009 Elsevier B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/125574
ISSN
2015 Impact Factor: 2.679
2015 SCImago Journal Rankings: 2.595
ISI Accession Number ID
Funding AgencyGrant Number
Hong Kong Research Grants Council GRFHKU 746208H
Funding Information:

This research is partially supported by the Hong Kong Research Grants Council GRF Grant HKU 746208H.

References
Grants

 

DC FieldValueLanguage
dc.contributor.authorLau, AHLen_HK
dc.contributor.authorLau, HSen_HK
dc.contributor.authorWang, JCen_HK
dc.date.accessioned2010-10-31T11:39:14Z-
dc.date.available2010-10-31T11:39:14Z-
dc.date.issued2010en_HK
dc.identifier.citationEuropean Journal Of Operational Research, 2010, v. 203 n. 2, p. 513-525en_HK
dc.identifier.issn0377-2217en_HK
dc.identifier.urihttp://hdl.handle.net/10722/125574-
dc.description.abstractThis paper on "resale price maintenance" (RPM) has three main parts:(i)Using a simple and parsimonious model, we show that even with only one retailer, a "supplier" or "manufacturer" (hereafter "Manu") should impose minimum-RPM under some circumstances but maximum-RPM in others. These two sets of circumstances are defined by a very simple formula.(ii)While most earlier RPM models assume that the decision makers have deterministic knowledge of the system parameters, we present formulations and solution procedures for optimizing RPM schemes when Manu is uncertain about a system parameter's value.(iii)We show that if Manu has to estimate certain key system parameters under uncertainties, then in many situations RPM rapidly becomes unattractive even when these uncertainties are still quite low. This constitutes one often-applicable explanation why RPM is not as widely used as it should be theoretically. © 2009 Elsevier B.V. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejoren_HK
dc.relation.ispartofEuropean Journal of Operational Researchen_HK
dc.subjectContract designen_HK
dc.subjectResale price maintenanceen_HK
dc.subjectSupply-chain pricingen_HK
dc.titleUsefulness of resale price maintenance under different levels of sales-effort cost and system-parameter uncertaintiesen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0377-2217&volume=203&issue=2&spage=513&epage=525&date=2010&atitle=Usefulness+of+Resale+Price+Maintenance+under+Different+Levels+of+Sales-Effort+Cost+and+System-Parameter+Uncertaintiesen_HK
dc.identifier.emailLau, AHL: ahlau@business.hku.hken_HK
dc.identifier.emailWang, JC: wangjc@business.hku.hken_HK
dc.identifier.authorityLau, AHL=rp01072en_HK
dc.identifier.authorityWang, JC=rp01107en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.ejor.2009.08.011en_HK
dc.identifier.scopuseid_2-s2.0-70350738347en_HK
dc.identifier.hkuros181538en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-70350738347&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume203en_HK
dc.identifier.issue2en_HK
dc.identifier.spage513en_HK
dc.identifier.epage525en_HK
dc.identifier.eissn1872-6860-
dc.identifier.isiWOS:000272588200024-
dc.publisher.placeNetherlandsen_HK
dc.relation.projectAlternative Approaches for Handling Demand Curves and Production Costs in a Fundamental Supply-Chain Pricing Model (new proposed code 41081)-
dc.identifier.scopusauthoridLau, AHL=7202626080en_HK
dc.identifier.scopusauthoridLau, HS=7201497264en_HK
dc.identifier.scopusauthoridWang, JC=15838282400en_HK
dc.identifier.citeulike5542644-

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