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Article: A theory of loss-leaders: Making money by pricing below cost

TitleA theory of loss-leaders: Making money by pricing below cost
Authors
KeywordsCustomer Satisfaction
Optimization
Problem Solving
Profitability
Issue Date2007
PublisherSpringer Verlag. The Journal's web site is located at http://springerlink.com/content/105633/
Citation
Lecture Notes In Computer Science (Including Subseries Lecture Notes In Artificial Intelligence And Lecture Notes In Bioinformatics), 2007, v. 4858 LNCS, p. 293-299 How to Cite?
AbstractWe consider the problem of assigning prices to goods of fixed marginal cost in order to maximize revenue in the presence of singleminded customers. We focus in particular on the question of how pricing certain items below their marginal costs can lead to an improvement in overall profit, even when customers behave in a fully rational manner. We develop two frameworks for analyzing this issue that we call the discount and the coupon models, and examine both fundamental "profitability gaps" (to what extent can pricing below cost help to improve profit) as well as algorithms for pricing in these models in a number of settings considered previously in the literature. © Springer-Verlag Berlin Heidelberg 2007.
Persistent Identifierhttp://hdl.handle.net/10722/92641
ISSN
2005 Impact Factor: 0.402
2015 SCImago Journal Rankings: 0.252
References

 

DC FieldValueLanguage
dc.contributor.authorBalcan, MFen_HK
dc.contributor.authorBlum, Aen_HK
dc.contributor.authorChan, THHen_HK
dc.contributor.authorHajiaghayi, Men_HK
dc.date.accessioned2010-09-17T10:52:46Z-
dc.date.available2010-09-17T10:52:46Z-
dc.date.issued2007en_HK
dc.identifier.citationLecture Notes In Computer Science (Including Subseries Lecture Notes In Artificial Intelligence And Lecture Notes In Bioinformatics), 2007, v. 4858 LNCS, p. 293-299en_HK
dc.identifier.issn0302-9743en_HK
dc.identifier.urihttp://hdl.handle.net/10722/92641-
dc.description.abstractWe consider the problem of assigning prices to goods of fixed marginal cost in order to maximize revenue in the presence of singleminded customers. We focus in particular on the question of how pricing certain items below their marginal costs can lead to an improvement in overall profit, even when customers behave in a fully rational manner. We develop two frameworks for analyzing this issue that we call the discount and the coupon models, and examine both fundamental "profitability gaps" (to what extent can pricing below cost help to improve profit) as well as algorithms for pricing in these models in a number of settings considered previously in the literature. © Springer-Verlag Berlin Heidelberg 2007.en_HK
dc.languageengen_HK
dc.publisherSpringer Verlag. The Journal's web site is located at http://springerlink.com/content/105633/en_HK
dc.relation.ispartofLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)en_HK
dc.subjectCustomer Satisfactionen_HK
dc.subjectOptimizationen_HK
dc.subjectProblem Solvingen_HK
dc.subjectProfitabilityen_HK
dc.titleA theory of loss-leaders: Making money by pricing below costen_HK
dc.typeArticleen_HK
dc.identifier.emailChan, THH:hubert@cs.hku.hken_HK
dc.identifier.authorityChan, THH=rp01312en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.scopuseid_2-s2.0-38449114641en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-38449114641&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume4858 LNCSen_HK
dc.identifier.spage293en_HK
dc.identifier.epage299en_HK
dc.identifier.eissn1611-3349-
dc.publisher.placeGermanyen_HK
dc.identifier.scopusauthoridBalcan, MF=8954993900en_HK
dc.identifier.scopusauthoridBlum, A=7402674963en_HK
dc.identifier.scopusauthoridChan, THH=12645073600en_HK
dc.identifier.scopusauthoridHajiaghayi, M=35615078700en_HK

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