Dissertations / Theses on the topic 'Optimal Pricing Policy'

This thesis investigates the effect of Limited Asset Market Participation on the financial and macroeconomic implications of DSGE models. In particular, I study the implications of LAMP for the equity premium predicted by these kind of models and the implications concerning optimal public policies.

This thesis comprises three chapters which share an emphasis on the importance of agent heterogeneity in different areas of macroeconomics. The first chapter shows that the introduction of heterogeneous risk aversion into a consumption based asset pricing model with Epstein-Zin preferences allows to replicate several features of stock markets such as the counter-cyclical variation in the equity premium and its predictability from the price dividend ratio. The second chapter complements a Mortensen-Pissarides matching model with individual savings for precautionary reasons in order to analyze the welfare effects of reforming unemployment insurance. Our fully dynamic analysis reveals significant transition costs that static comparisons miss. The third chapter is concerned with optimal capital and labor taxation when agents differ in their wage-wealth ratio. We find that if all agents are to benefit from a reform (vis-à-vis the status quo) capital taxes are abolished only after a long period.
Esta tesis se compone de tres capítulos que enfatizan en la importancia de la heterogeneidad de agentes económicos en distintas áreas de la macroeconomía. El primer capítulo demuestra que la introducción de heterogeneidad en la aversión al riesgo en un modelo de consumption based asset pricing con utilidad de tipo Epstein-Zin permite reproducir algunas regularidades empíricas de los mercados financieros como por ejemplo la variación anticíclica de la prima de riesgo y su previsibilidad a través del cociente precio-dividendos. El segundo capítulo introduce en un modelo de matching tipo Mortensen-Pissarides ahorros precaucionarios con el objetivo de analizar los efectos sobre el bienestar de reformas del seguro de desempleo. Nuestro análisis dinámico revela costes significativos de transición no presentes en comparaciones estáticas. El tercer capítulo investiga la imposición óptima de capital y trabajo cuando los agentes son heterogéneos con respecto a su cociente sueldo-patrimonio. Encontramos que, para que todos los agentes se beneficien de la reforma (respecto al status quo), el impuesto del capital debería eliminarse sólo después de un periodo largo.

博士
國立臺灣科技大學
資訊管理系
100
In a competitive market environment, the main strategic decision for a seller is determining a price schedule with respect to a specific marketing feature of the product. This paper investigates how a monopolistic seller can optimally determine the price schedule for a product with different warranty plans. By incorporating buyers' heterogeneous preferences on product warranty length, the pricing problem of a product for the seller is mathematically formulated. Four different pricing scenarios of warranted products under varies optimization objective are developed to specify the pricing problems for the seller. In each scenario, the optimal price schedule is derived such that the optimization objective is maximized by employing an optimal control approach. Finally, a numerical example is provided to illustrate the features of the proposed problem in each scenario and the sensitivity analyses of the parameters on the optimal solutions are also performed.

碩士
國立臺灣科技大學
工業管理系
92
In the pricing policies considered for perishable or seasonal commodity, a seller must determine the unit price of a commodity to be sold for a limited period of time. The list price should be posted in advance of the sale and is not negotiable with customers. Any commodity left by the end of the sales period will be disposed at a single price which is lower than the original one. In our research, we divide the single sales period into two, and propose a two-period pricing model. In the two-period pricing model, the demand of potential buyers is represented by a negative binomial distribution. In this case, the optimal commodity price based on the demand rate, buyer’s preferences, and the length of sales period is determined. Because the seller’s marginal revenue decreases as the number of items for sale increases, we also derive the optimal ordering quantity and the combination of optimal discount rate and time such that the seller’s total expected profit is maximized.

博士
長庚大學
企業管理研究所博士班
101
A shopping mall usually owns and operates both a shopping retail area and a parking lot. Decision-making on parking lot pricing has long been an important issue in shopping mall operations. This study analyzes the decision problems inherent to parking lot pricing and shopping market free parking threshold defining by leveraging the criteria and achieving conflicting goals. To support this decision, formal analysis is used to analyze the decision problem. A decision flow is suggested and a series of mathematical programming models is proposed which makes the decision problem mathematically manageable. The capability of the model and some managerial implications are also demonstrated, through its application to a real case in Taiwan. Making a proper pricing decision for a parking lot not only attracts more visitors, but also benefits the company. To this extent, this study not only assists decision-makers in this confounding process, but also contributes to the field of the application of mathematical programming. The generalization of the proposed model for pricing problems in any type of market similar to a shopping mall that has a parking lot is therefore possible.

碩士
國立彰化師範大學
商業教育學系
87
Firm''s Optimal Return and Pricing Policy on Channel Coordination ABSTRACT This study explored the return policy under the channel coordination. The researcher used the game theory and newsboy problem to form return and pricing models between the channel members--manufacturer and retailer. In this study, four alternative models--whether these two parties coordinate and whether manufacturer adopts the return policy--were discussed. In addition, the researcher used the soft-package of Mathematica and numerical parameters to provide numerical examples. According to the numerical examples, the following results were derived. 1. Under non-coordination, the return policy increases the value of retail price; however, under coordination, the return policy decreases the value of retail price. 1. Under non-coordination, the return policy decreases the quantities; however, under coordination, the return policy increases quantities. 1. Whether manufacturer adopts the return policy or not, retailer''s profit will increase under coordination. 1. Manufacturer''s profit will raise if he adopts the return policy and coordinate with retailer. In a word, for manufacturer, the return policy is gainful. That''s because return policy will increase wholesale price, and manufacturer''s profit. Therefore manufacturer will prefer to adopt return policy. Whether manufacturer adopts return policy or not, retailer''s profit will increase under coordination. So the whole channel profit will raise when two parties--manufacturer and retailer--coordinate. Key Word: return policy, channel coordination, game theory, newsboy problem.

碩士
國立成功大學
工業與資訊管理學系
107
Pricing and inventory management of perishable items are crucial to the retailers. Unlike durable products, the quality and quantities of perishable items deteriorate over time. Owing to the decline of the freshness condition, the demand may decrease, which could decrease the profit as well. Accordingly, a proper pricing and ordering strategy is needed to have higher profit for the enterprises. Generally, the retailers may offer price discounts before the selling period ends so that the sales volume can be boosted and reduce the ending inventory. In order to set a price that consumers are willing to pay for, the retailers have to take individuals’ reference price into consideration. Therefore, in this study, a single period with four stages pricing and inventory model is implemented to determine the optimal price markdown and inventory ordering policy to maximize the total profit. In our model, the demand is dependent on the price, reference price and time since they are the major factors affecting the demand. Also, we use the three-parameter Weibull function as the deterioration rate function in our model. Finally, a numerical example is presented to demonstrate this model accompanied by sensitivity analysis. Some managerial insights are obtained from the results, which will assist the retailer in improving the profit.

碩士
國立臺北大學
自然資源與環境管理研究所在職專班
105
The four in one recycling program had promoted by the Environmental Protection Agency (EPA) since January 1997. There were four major roles to complete the program, including recycling fund, community Public, local authority (cleaning teams) and recycling enterprises. However, how did this program affect waste management in Taiwan? This study used segmented linear regression analysis to assess the effectiveness of the four in one recycling program. The results showed an average reduction of 320,998 tons per year after the implementation of the four in one recycling program. The recycling fund made an important contribution to affect the recycling intention of recycling enterprises. It also affected the manufacturers and importers to the choice of green products. For the government, it was important to set a proper impose fee and subsidy fee. Therefore, this study based on the optimal decision-making of manufacturers, importers and recycling enterprises, trying to build up theoretical models of the optimal impose and subsidy rate toward social welfare maximization. Finally, the optimal impose rate was related to the price of the product and the elasticity of demand. The optimal subsidy rate was related to the price of the recycling materials and the elasticity of demand.

博士
國立成功大學
工業與資訊管理學系碩博士班
96
A successful industry strategy should be managed to integrate decisions, such as various managerial pricing, production, warranty, and customer services, in order to maximize profits. In fact, some research has been carried out to cope with the multiple if sufficient historical data cannot be gathered to confidently estimate the deterioration of a new product, then the solution may not be assertively reliable. In dealing with such a problem for the situation of scarce historical data, a Bayesian analysis should be suitable because it can effectively assess the deterioration based on experts’ opinions and possibly few relevant data. In this study, we employed a mathematical programming approach along with a Bayesian updating process to tackle such a complex decision problem, and the optimal prior and posterior decisions of pricing scheme, production plan, and warranty policy can thus be determined simultaneously. In addition, we provided a computerized architecture to help decision makers in implementing the proposed approach. Besides, a practical application case was used to demonstrate the usefulness of the proposed model.

碩士
中原大學
工業與系統工程研究所
98
Abstract Inventory management in reverse logistics is different from that in logistics, and it should take the returned products into consideration. Most of the previous papers related to two-echelon inventory system in reverse logistics only discussed the usability of electronic components and the consumption of products when demand occurs. However, the variation of inventory level not only would be affected by customer demand, but also the deterioration of electronic components. This study focused on the two-echelon inventory system in reverse logistics and the deterioration of electronic components. Therefore, this study combined the consideration of deterioration and two-echelon inventory system in reverse logistic, and derived the optimal lot-size and selling price of new product. Moreover, this study added the consideration of backlogging in the model, and then tested whether there is a significant difference for joint total inventory cost between two models. The results of numerical example and sensitivity analysis presented that, considering the deteriorating products in two-echelon inventory system in reverse logistics, the profit of choosing the strategy of the backlogging would be more than one of choosing the prohibition of the backlogging.

This thesis investigates monetary policy within the New Keynesian framework in dynamic macroeconomics. It includes three original research papers. The first paper examines the rules and transmission mechanisms of monetary policy in one of the fast growing economies in the 21st century, China, by extending a standard New Keynesian dynamic stochastic general equilibrium model with financial frictions and investment-specific shocks in order to capture some of the Chinese characteristics and applying a Bayesian estimation strategy to real-time data. It offers a new way of empirically examining the rule of China's monetary policy and indicates a structural break of the neutral technology development that may have caused the slowing down of GDP growth since 2010. The second paper revisits optimal monetary policy in open economies, in particular, focusing on the noncooperative policy game under local currency pricing in a theoretical two-country dynamic stochastic general equilibrium model. Quadratic loss functions of noncooperative policy makers and welfare gains from cooperation are obtained in the paper. The results show that noncooperative policy makers face extra trade-offs regarding stabilizing the real marginal costs induced by deviations from the law of one price under local currency pricing. As a result of the increased number of stabilizing objectives, welfare gains from cooperation emerge even when two countries face only technology shocks, which usually leads to equivalence between cooperation and noncooperation. Still, gains from cooperation are not large, implying that frictions other than nominal rigidities are necessary to strongly recommend cooperation as an important policy framework to increase global welfare. The third paper focuses on the noncooperative policy game specified by choice of policy instrument for implementing optimal monetary policy in a two-country open economy model similar to the one in the second paper. It examines four options of policy instruments including the producer price index inflation rate, the consumer price index inflation rate, the import price inflation rate and the nominal interest rate. It shows that choosing different policy instruments generally leads to different equilibria and, in particular, choosing the nominal interest rate results in equilibrium indeterminacy. In addition, the welfare ranking of these policy instruments depends on a country's degree of openness which is measured as the weight assigned to imported goods in the consumers' utility function. In less open countries, domestically produced goods carry a relatively higher weight in the consumers' utility function. For these less open countries, choosing the producer price index inflation rate induces a larger welfare cost from noncooperation than choosing the consumer price index inflation rate would. Choosing the consumer price index inflation rate in turn causes a larger welfare cost than choosing the import price inflation rate. Conversely, the reverse is true when countries are more open. This result sheds light on the important role that policy instrument choice plays in determining the equilibrium outcomes, to which policy makers should pay special attention when implementing optimal monetary policy under noncooperation.

In this thesis, we consider stochastic systems which arise in different real-world application contexts. The first problem we consider is based on product adoption and pricing. A monopolist selling a product has to appropriately price the product over time in order to maximize the aggregated profit. The demand for a product is uncertain and is influenced by a number of factors, some of which are price, advertising, and product technology. We study the influence of price on the demand of a product and also how demand affects future prices. Our approach involves mathematically modelling the variation in demand as a function of price and current sales. We present a simulation-based algorithm for computing the optimal price path of a product for a given period of time. The algorithm we propose uses a smoothed-functional based performance gradient descent method to find a price sequence which maximizes the total profit over a planning horizon. The second system we consider is in the domain of sensor networks. A sensor network is a collection of autonomous nodes, each of which senses the environment. Sensor nodes use energy for sensing and communication related tasks. We consider the problem of finding optimal energy sharing policies that maximize the network performance of a system comprising of multiple sensor nodes and a single energy harvesting(EH) source. Nodes periodically sense a random field and generate data, which is stored in their respective data queues. The EH source harnesses energy from ambient energy sources and the generated energy is stored in a buffer. The nodes require energy for transmission of data and and they receive the energy for this purpose from the EH source. There is a need for efficiently sharing the stored energy in the EH source among the nodes in the system, in order to minimize average delay of data transmission over the long run. We formulate this problem in the framework of average cost infinite-horizon Markov Decision Processes[3],[7]and provide algorithms for the same.

In this thesis, we consider stochastic systems which arise in different real-world application contexts. The first problem we consider is based on product adoption and pricing. A monopolist selling a product has to appropriately price the product over time in order to maximize the aggregated profit. The demand for a product is uncertain and is influenced by a number of factors, some of which are price, advertising, and product technology. We study the influence of price on the demand of a product and also how demand affects future prices. Our approach involves mathematically modelling the variation in demand as a function of price and current sales. We present a simulation-based algorithm for computing the optimal price path of a product for a given period of time. The algorithm we propose uses a smoothed-functional based performance gradient descent method to find a price sequence which maximizes the total profit over a planning horizon. The second system we consider is in the domain of sensor networks. A sensor network is a collection of autonomous nodes, each of which senses the environment. Sensor nodes use energy for sensing and communication related tasks. We consider the problem of finding optimal energy sharing policies that maximize the network performance of a system comprising of multiple sensor nodes and a single energy harvesting(EH) source. Nodes periodically sense a random field and generate data, which is stored in their respective data queues. The EH source harnesses energy from ambient energy sources and the generated energy is stored in a buffer. The nodes require energy for transmission of data and and they receive the energy for this purpose from the EH source. There is a need for efficiently sharing the stored energy in the EH source among the nodes in the system, in order to minimize average delay of data transmission over the long run. We formulate this problem in the framework of average cost infinite-horizon Markov Decision Processes[3],[7]and provide algorithms for the same.

碩士
國立中央大學
工業管理研究所
92
Fashion goods are characterized with demand uncertainty, a short selling season and long manufacturing lead time. Therefore, the manufacturer usually offers return and rebate polices to encourage the retailer to stock more inventory. Under the mechanism, the channel will achieve coordination. This paper we consider the single period inventory model under price-dependent demand. We adopt the Stacklberg equilibrium to decide the ordering and pricing problems in the channel. Our objective is to build the design of supply contract policy of return and rebate polices that maximum the channel profit and achieve channel coodination.