Operations Research Perspectives最新文献

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Operations management of outpatient chemotherapy process: An optimization-oriented comprehensive review 门诊化疗过程的操作管理:面向优化的综合综述
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2022-01-01 DOI: 10.1016/j.orp.2021.100214
Majed Hadid , Adel Elomri , Tarek El Mekkawy , Oualid Jouini , Laoucine Kerbache , Anas Hamad
{"title":"Operations management of outpatient chemotherapy process: An optimization-oriented comprehensive review","authors":"Majed Hadid ,&nbsp;Adel Elomri ,&nbsp;Tarek El Mekkawy ,&nbsp;Oualid Jouini ,&nbsp;Laoucine Kerbache ,&nbsp;Anas Hamad","doi":"10.1016/j.orp.2021.100214","DOIUrl":"10.1016/j.orp.2021.100214","url":null,"abstract":"<div><p>Worldwide, chemotherapy centers that provide outpatient services face significant challenges owing to increased demand and limited resources. Therefore, outpatient chemotherapy process (OCP) optimization has attracted the attention of operations management scholars. This review seeks to provide a comprehensive analysis of existing quantitative optimization-oriented research that addresses OCP problems and identifies departure points for future research.</p><p>Various scientific databases were searched to collect the maximum number of OCP optimization-oriented publications. Bibliometric data mining tools were used to provide descriptive analyses of the publications. The OCP optimization-oriented research framework was obtained through social network analysis of the formulation narratives of the models. Content analysis was performed to classify the literature based on several optimization-oriented perspectives. From 1500 publications, 45 studies were screened and included in the review. The current literature lacks a holistic solution to OCP challenges, as most publications are pure optimization studies that consider narrow scopes and idealized problems. This review proposes future research opportunities based on the gaps discovered, which may lead to more insightful results for real-life OCP problems.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214716021000294/pdfft?md5=07a5d7398c5688089c88f9316ea6763f&pid=1-s2.0-S2214716021000294-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44606731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
Omnichannel retailing return operations with consumer disappointment aversion 全渠道零售退货操作与消费者失望厌恶
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2022-01-01 DOI: 10.1016/j.orp.2022.100253
Yinhai Shen , Qing Zhang , Zhichao Zhang , Xinyu Ma
{"title":"Omnichannel retailing return operations with consumer disappointment aversion","authors":"Yinhai Shen ,&nbsp;Qing Zhang ,&nbsp;Zhichao Zhang ,&nbsp;Xinyu Ma","doi":"10.1016/j.orp.2022.100253","DOIUrl":"https://doi.org/10.1016/j.orp.2022.100253","url":null,"abstract":"<div><p>Product returns is a widespread phenomenon associated with online retailing, where both consumer behavior and retailers’ operation decisions are inextricable topics. To improve the returns experience, retailers have forayed into omnichannel return operations and consumers are sophisticated enough to make strategic channel decisions.</p><p>Taking into account consumer disappointment aversion triggered by value uncertainty online, three return configurations were explored: non-return, same-channel return and omnichannel return and the impacts of disappointment aversion on the retailer's optimal pricing, return penalty, and profitability are investigated. The most important conclusion is that the effect of disappointment aversion on return strategy is influenced by distinct product return rate. We identify conditions under which the retailer should choose omnichannel return strategy and the other key findings show that the optimal pricing under a same-channel strategy should be no lower than the other two strategies, and depending on the level of unit travel cost, the optimal pricing is symmetric on different disappointment aversion intervals and the correlations are opposite. The return penalty keeps down with disappointment aversion. The retailer will implement a non-return policy only when return rate is relatively high. When both the return rate and the disappointment aversion is intermediate, the same-channel return is the optimal strategy. However, it is only profitable for retailers to implement an omnichannel return strategy when disappointment aversion is low, which supports for the retailer's choice of return strategies.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2214716022000240/pdfft?md5=a070d4ec1d0edee4bafce9375f94dedb&pid=1-s2.0-S2214716022000240-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137141099","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A new case of rank reversal in analytic hierarchy process due to aggregation of cost and benefit criteria 层次分析法中由于成本和效益标准聚集而导致的等级反转的新案例
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2021-01-01 DOI: 10.1016/j.orp.2021.100185
Abhijit Majumdar , Manoj Kumar Tiwari , Aastha Agarwal , Kanika Prajapat
{"title":"A new case of rank reversal in analytic hierarchy process due to aggregation of cost and benefit criteria","authors":"Abhijit Majumdar ,&nbsp;Manoj Kumar Tiwari ,&nbsp;Aastha Agarwal ,&nbsp;Kanika Prajapat","doi":"10.1016/j.orp.2021.100185","DOIUrl":"10.1016/j.orp.2021.100185","url":null,"abstract":"<div><p>Rank reversal in Analytic Hierarchy Process (AHP) due to introduction or removal of a new alternative is well documented in literature. However, rank reversal due to the aggregation of benefit and cost criteria has not been addressed with requisite rigour. This paper demonstrates a new type of rank reversal in AHP which can arise due to the method (ratio or difference) and approach (sum 1 or sum 2) used to aggregate the benefit and cost criteria. Numerical examples, mathematical analyses and computer simulations have been used for demonstration of results. It is found that considering the benefit and cost criteria separately (sum 2 approach) while aggregating them can yield irrational ranking. It is also demonstrated that ratio method of aggregation is untenable in additive variants of AHP as it yields identical ranking in sum 1 and sum 2 approaches. Difference method of aggregation considering the benefit and cost criteria together (sum 1 approach) is most logical and sound in additive variants of AHP. The results also counter the notion that multiplicative AHP is immune to rank reversal between ratio and difference methods of aggregation. Besides, sum 1 and sum 2 approaches produce different raking of alternatives in multiplicative AHP irrespective of the method of aggregation. Outcome of this research will be helpful while choosing the appropriate method and approach for aggregation of benefit and cost criteria in different variants of AHP.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.orp.2021.100185","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54964478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
Assessing and Prioritizing Risks in Public-Private Partnership (PPP) Projects Using the Integration of Fuzzy Multi-Criteria Decision-Making Methods 基于模糊多准则决策方法的公私合作(PPP)项目风险评估与排序
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2021-01-01 DOI: 10.1016/j.orp.2021.100190
Ebrahim Jokar , Babak Aminnejad , Alireza Lork
{"title":"Assessing and Prioritizing Risks in Public-Private Partnership (PPP) Projects Using the Integration of Fuzzy Multi-Criteria Decision-Making Methods","authors":"Ebrahim Jokar ,&nbsp;Babak Aminnejad ,&nbsp;Alireza Lork","doi":"10.1016/j.orp.2021.100190","DOIUrl":"10.1016/j.orp.2021.100190","url":null,"abstract":"<div><p>Public-private partnership (PPP)-based infrastructure projects generally face many risks and uncertainties at all stages of the project, including initial studies, design, construction, and operation. This causes many challenges such as increased costs, delays in the project and loss of materials and equipment, and so on. Given the need to use the PPP method in the development of infrastructure projects and its broad dimensions, it is important to accurately identify and evaluate the risks involved in these projects. In the present paper, the most important risks in these projects are identified by case study in PPP-based freeway projects in Iran and using the six step-by-step process of risk management based on PMBOK standard, a model for risk assessment it is developed. Also, for quantitative risk analysis, an attempt was made to determine the importance of risks and their priority in the studied projects by using fuzzy multi-criteria decision making techniques (FAHP and FTOPSIS). The results of quantitative risk analysis by FAHP method showed that first level risks in seven different categories including economic and financing risks, construction, operational, legal, political, other risks and government risks, respectively, have the greatest impact on PPP-based freeway projects. They are dedicated to themselves. Also, the results of the general ranking of the sub-criteria showed that high risk financing costs, quality of performance and standards, lack of support infrastructure have the greatest impact on these projects. Finally, the results of FTOPSIS similarity index showed that according to project experts, projects A (Isfahan-Shiraz Freeway), B (Salafchegan-Arak Freeway) and C (Khorramabad-Arak Freeway) with scores of 0.433, 0.3369 and 0.283, respectively, had a greater impact on risks, respectively. Also, the remaining risks that were jointly or at least one of the studied projects had a high impact were identified as final risks and were allocated among the various pillars of the project. The results of this research can be used as a management model in the process of risk assessment and management of PPP projects.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.orp.2021.100190","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54964906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 24
A review of supply chain integration extents, contingencies and performance : A post Covid-19 review 供应链整合程度、突发事件和绩效回顾:2019冠状病毒病后回顾
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2021-01-01 DOI: 10.1016/j.orp.2021.100183
Nadir Munir Hassan , Muhammad Nauman Abbasi
{"title":"A review of supply chain integration extents, contingencies and performance : A post Covid-19 review","authors":"Nadir Munir Hassan ,&nbsp;Muhammad Nauman Abbasi","doi":"10.1016/j.orp.2021.100183","DOIUrl":"10.1016/j.orp.2021.100183","url":null,"abstract":"<div><p>This research intends to synthesize and analyze the existing research published with respect to “extent of supply chain integration” and impact of Multiple extents of supply chain integration on supply chain performance. Three fundamental questions, including; How the extent of supply chain integration has been defined and measured in the exiting SC literature? What are the bases of differences/inconsistencies in defining various extents of integration, and What is the impact of certain contingencies (i.e. moderators &amp; situational factors) on a relationship between, supply chain integration (extents), and supply chain performance?. In desire of sketching the available extents of supply chain integration, and their impact on chains performance, an organized technique is made use of, to observe 293 (Ultimately trimmed to 113) research studies, within the time frame of Jan 1<sup>st</sup>, 2015 till April 2020, gathered through multiple platforms, including, Emerald, Taylor &amp; Francis, Wiley &amp; Science Direct. Results of the study, generate the notable list of dimensions, performance outcomes, contingent variables, theoretical lenses and list of Industries which have been considered for studies in the field of SCI within the considered time frame.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.orp.2021.100183","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43348202","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
A novel best worst method robust data envelopment analysis: Incorporating decision makers’ preferences in an uncertain environment 一种新颖的最佳最坏方法稳健数据包络分析:在不确定环境中纳入决策者的偏好
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2021-01-01 DOI: 10.1016/j.orp.2021.100184
Hashem Omrani , Mahsa Valipour , Ali Emrouznejad
{"title":"A novel best worst method robust data envelopment analysis: Incorporating decision makers’ preferences in an uncertain environment","authors":"Hashem Omrani ,&nbsp;Mahsa Valipour ,&nbsp;Ali Emrouznejad","doi":"10.1016/j.orp.2021.100184","DOIUrl":"10.1016/j.orp.2021.100184","url":null,"abstract":"<div><p>Data Envelopment Analysis (DEA) has been widely applied in measuring the efficiency of Decision-Making Units (DMUs). The conventional DEA has three major drawbacks: a) it does not consider Decision Makers’ (DMs) preferences in the evaluation process, b) DMUs in this model are flexible in weighting the criteria to reach the maximum possible efficiency, and c) it ignores the uncertainty in data. However, in many real-world applications, data are uncertain as well as imprecise and managers want to impose their opinions in decision-making procedure. To address these problems, this paper develops a novel multi-objective Best Worst Method (BWM)-Robust DEA (RDEA) for incorporating DMs’ preferences into DEA model in an uncertain environment. The proposed model tries to provide a new efficiency score which is more reliable and compatible with real problems by taking the advantages of the BWM to apply experts’ opinions and RDEA to model the uncertainty This bi-objective BWM-RDEA model is solved utilizing amin-max technique and so as to illustrate its usefulness, this model is implemented for assessing Iranian airlines.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.orp.2021.100184","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42245063","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 14
Strictly and Γ-robust counterparts of electricity market models: Perfect competition and Nash–Cournot equilibria 电力市场模型的严格和Γ-robust对应:完全竞争和纳什-古诺均衡
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2021-01-01 DOI: 10.1016/j.orp.2021.100197
Anja Kramer , Vanessa Krebs , Martin Schmidt
{"title":"Strictly and Γ-robust counterparts of electricity market models: Perfect competition and Nash–Cournot equilibria","authors":"Anja Kramer ,&nbsp;Vanessa Krebs ,&nbsp;Martin Schmidt","doi":"10.1016/j.orp.2021.100197","DOIUrl":"10.1016/j.orp.2021.100197","url":null,"abstract":"<div><p>This paper mainly studies two topics: linear complementarity problems for modeling electricity market equilibria and optimization under uncertainty. We consider both perfectly competitive and Nash–Cournot models of electricity markets and study their robustifications using strict robustness and the <span><math><mi>Γ</mi></math></span>-approach. For three out of the four combinations of economic competition and robustification, we derive algorithmically tractable convex optimization counterparts that have a clear-cut economic interpretation. In the case of perfect competition, this result corresponds to the two classic welfare theorems, which also apply in both considered robust cases that again yield convex robustified problems. Using the mentioned counterparts, we can also prove the existence and, in some cases, uniqueness of robust equilibria. Surprisingly, it turns out that there is no such economic sensible counterpart for the case of <span><math><mi>Γ</mi></math></span>-robustifications of Nash–Cournot models. Thus, an analog of the welfare theorems does not hold in this case. Finally, we provide a computational case study that illustrates the different effects of the combination of economic competition and uncertainty modeling.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S221471602100018X/pdfft?md5=f8ff7d80da1885286a3c1d4cdb7683e7&pid=1-s2.0-S221471602100018X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46696873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 13
Using variable neighbourhood descent and genetic algorithms for sequencing mixed-model assembly systems in the footwear industry 利用可变邻域下降和遗传算法对制鞋行业混合模型装配系统进行排序
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2021-01-01 DOI: 10.1016/j.orp.2021.100193
Parisa Sadeghi , Rui Diogo Rebelo , José Soeiro Ferreira
{"title":"Using variable neighbourhood descent and genetic algorithms for sequencing mixed-model assembly systems in the footwear industry","authors":"Parisa Sadeghi ,&nbsp;Rui Diogo Rebelo ,&nbsp;José Soeiro Ferreira","doi":"10.1016/j.orp.2021.100193","DOIUrl":"10.1016/j.orp.2021.100193","url":null,"abstract":"<div><p>This paper addresses a new Mixed-model Assembly Line Sequencing Problem in the Footwear industry. This problem emerges in a large company, which benefits from advanced automated stitching systems. However, these systems need to be managed and optimised. Operators with varied abilities operate machines of various types, placed throughout the stitching lines. In different quantities, the components of the various shoe models, placed in boxes, move along the lines in either direction. The work assumes that the associated balancing problems have already been solved, thus solely concentrating on the sequencing procedures to minimise the makespan.</p><p>An optimisation model is presented, but it has just been useful to structure the problems and test small instances due to the practical problems’ complexity and dimension. Consequently, two methods were developed, one based on Variable Neighbourhood Descent, named <em>VND-MSeq</em>, and the other based on Genetic Algorithms, referred to as <em>GA-MSeq</em>.</p><p>Computational results are included, referring to diverse instances and real large-size problems. These results allow for a comparison of the novel methods and to ascertain their effectiveness. We obtained better solutions than those available in the company.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.orp.2021.100193","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54965079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
A study of robust portfolio optimization with European options using polyhedral uncertainty sets 基于多面体不确定性集的欧式期权稳健投资组合优化研究
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2021-01-01 DOI: 10.1016/j.orp.2021.100178
Hedieh Ashrafi, Aurélie C. Thiele
{"title":"A study of robust portfolio optimization with European options using polyhedral uncertainty sets","authors":"Hedieh Ashrafi,&nbsp;Aurélie C. Thiele","doi":"10.1016/j.orp.2021.100178","DOIUrl":"10.1016/j.orp.2021.100178","url":null,"abstract":"<div><p>We consider the problem of maximizing the worst-case return of a portfolio when the manager can invest in stocks as well as European options on those stocks, and the stock returns are modeled using an uncertainty set approach. Specifically, the manager knows a range forecast for each factor driving the returns and a budget of uncertainty limiting the scaled deviations of these factors from their nominal values. Our goal is to understand the impact of options on the optimal portfolio allocation. We present theoretical results regarding the structure of that optimal allocation, in particular with respect to portfolio diversification. Specifically, we show that the presence of options only leads to limited diversification across the financial instruments available. We compare our robust portfolio to several benchmarks in numerical experiments and analyze how the optimal allocation varies with the budget of uncertainty. Our results indicate that our approach performs very well in practice.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.orp.2021.100178","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54964115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
An explicit Nash equilibrium for a market share attraction game 市场份额吸引博弈的显式纳什均衡
IF 2.5 4区 管理学
Operations Research Perspectives Pub Date : 2021-01-01 DOI: 10.1016/j.orp.2021.100188
Peter Schuur , Bertan Badur , Asli Sencer
{"title":"An explicit Nash equilibrium for a market share attraction game","authors":"Peter Schuur ,&nbsp;Bertan Badur ,&nbsp;Asli Sencer","doi":"10.1016/j.orp.2021.100188","DOIUrl":"10.1016/j.orp.2021.100188","url":null,"abstract":"<div><p>In competitive marketing, the speed of generating the best price has become as critical as its reliability. In this study, we aim to design a practical marketing management tool. We consider a non-cooperative marketing environment with multiple substitute products, where total market size is moderately price-sensitive. The price-demand relations are determined by a market share attraction model, where the attraction of each product is a linear function of its price. The product's brand image is reflected in the parameters of this linear function. For the general case of multiple substitute products, we derive explicit expressions for the best-response functions. For the specific case of two substitute products, we derive closed form expressions for the prices at Nash equilibrium. These expressions help managers in changing their marketing instruments other than price, so as to obtain substantial individual profits. We show how our closed form Nash equilibrium enables the examination of the profit loss due to competition. Relevant for practice is the fact that our model can be easily calibrated. We provide a simple procedure for estimating the model parameters.</p></div>","PeriodicalId":38055,"journal":{"name":"Operations Research Perspectives","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.orp.2021.100188","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"54964566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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