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Article: A theory of loss-leaders: Making money by pricing below cost
Title | A theory of loss-leaders: Making money by pricing below cost |
---|---|
Authors | |
Keywords | Customer Satisfaction Optimization Problem Solving Profitability |
Issue Date | 2007 |
Publisher | Springer 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? |
Abstract | We 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 Identifier | http://hdl.handle.net/10722/92641 |
ISSN | 2023 SCImago Journal Rankings: 0.606 |
References |
DC Field | Value | Language |
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dc.contributor.author | Balcan, MF | en_HK |
dc.contributor.author | Blum, A | en_HK |
dc.contributor.author | Chan, THH | en_HK |
dc.contributor.author | Hajiaghayi, M | en_HK |
dc.date.accessioned | 2010-09-17T10:52:46Z | - |
dc.date.available | 2010-09-17T10:52:46Z | - |
dc.date.issued | 2007 | en_HK |
dc.identifier.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 | en_HK |
dc.identifier.issn | 0302-9743 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/92641 | - |
dc.description.abstract | We 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.language | eng | en_HK |
dc.publisher | Springer Verlag. The Journal's web site is located at http://springerlink.com/content/105633/ | en_HK |
dc.relation.ispartof | Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) | en_HK |
dc.subject | Customer Satisfaction | en_HK |
dc.subject | Optimization | en_HK |
dc.subject | Problem Solving | en_HK |
dc.subject | Profitability | en_HK |
dc.title | A theory of loss-leaders: Making money by pricing below cost | en_HK |
dc.type | Article | en_HK |
dc.identifier.email | Chan, THH:hubert@cs.hku.hk | en_HK |
dc.identifier.authority | Chan, THH=rp01312 | en_HK |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.scopus | eid_2-s2.0-38449114641 | en_HK |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-38449114641&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 4858 LNCS | en_HK |
dc.identifier.spage | 293 | en_HK |
dc.identifier.epage | 299 | en_HK |
dc.identifier.eissn | 1611-3349 | - |
dc.publisher.place | Germany | en_HK |
dc.identifier.scopusauthorid | Balcan, MF=8954993900 | en_HK |
dc.identifier.scopusauthorid | Blum, A=7402674963 | en_HK |
dc.identifier.scopusauthorid | Chan, THH=12645073600 | en_HK |
dc.identifier.scopusauthorid | Hajiaghayi, M=35615078700 | en_HK |
dc.identifier.issnl | 0302-9743 | - |