Omni-channel Pricing and Procurement Strategies with Consumer Returns and Order Cancellation under Reference Point Effects

Q3 Engineering
Yuan Li, Y. Hou
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引用次数: 2

Abstract

This paper considers the online retailer's omni-channel retail operations under reference point effects in which consumers can cancel their orders before payment and return the products after payment if the products doesn't meet their expectation. The online retailer's optimal pricing and inventory decisions are derived under the omni-channel strategy by maximizing the total expected utility. The analysis reveals a threshold strategy on the retailer's optimal pricing and inventory decisions and the optimal total expected utility while considering the impact of reference point effects. Moreover, with the increase of the retailer's loss aversion or the optimism level, the order quantity and overall expected utility decrease, while the optimal price presents a threshold type. Finally, the comparison of the utility performance between with and without reference point effects is presented.
参考点效应下消费者退货和订单取消的全渠道定价与采购策略
本文考虑了参考点效应下网络零售商的全渠道零售运营,消费者可以在付款前取消订单,在付款后如果产品不符合其期望,可以退货。在全渠道策略下,在线零售商的最优定价和库存决策是通过最大化总期望效用来实现的。分析揭示了考虑参考点效应影响的零售商最优定价和库存决策以及最优总期望效用的阈值策略。此外,随着零售商损失厌恶程度或乐观程度的增加,订货量和整体期望效用下降,而最优价格呈现阈值型。最后,对有参考点效应和无参考点效应的效用性能进行了比较。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
International Journal of Information and Management Sciences
International Journal of Information and Management Sciences Engineering-Industrial and Manufacturing Engineering
CiteScore
0.90
自引率
0.00%
发文量
0
期刊介绍: - Information Management - Management Sciences - Operation Research - Decision Theory - System Theory - Statistics - Business Administration - Finance - Numerical computations - Statistical simulations - Decision support system - Expert system - Knowledge-based systems - Artificial intelligence
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