Article
Computer Science, Interdisciplinary Applications
M. Hemmati, S. M. T. Fatemi Ghomi, Mohsen S. Sajadieh
Summary: This paper focuses on the name-your-own-price (NYOP) mechanism in the context of complementary products. The study investigates the impact of supply uncertainty on two different sales strategies: bundling and separate sales. Using a game-theoretic approach, the authors analyze equilibrium thresholds, optimal retailer strategy, and customers' bidding behavior. The results highlight the importance of complementation degree and marginal costs in determining dominant strategies and bidding policies, as well as the role of NYOP in price discrimination and market segmentation.
COMPUTERS & INDUSTRIAL ENGINEERING
(2023)
Article
Management
Hang Ren, Tingliang Huang
Summary: In vertically differentiated markets, opaque selling can increase profits for a firm by clearing leftover inventory. However, it may also decrease sales-season profits. The mechanisms of opaque selling are different from those in other settings, and combining opaque selling with inventory management can further enhance profitability.
M&SOM-MANUFACTURING & SERVICE OPERATIONS MANAGEMENT
(2022)
Article
Operations Research & Management Science
Stefanos Leonardos, Costis Melolidakis, Constandina Koki
Summary: The paper discusses the issue of monopoly pricing under demand uncertainty, proposing a method to express price elasticity using the mean residual demand function. By systematically comparing demand distributions between different markets, a framework of comparative statics challenges traditional economic insights.
ANNALS OF OPERATIONS RESEARCH
(2022)
Article
Engineering, Electrical & Electronic
Md Habib Ullah, Jae-Do Park
Summary: This paper proposes a distributed pricing strategy for P2P transactive energy systems, considering voltage and line congestion management, and introduces a new mutual reputation index for product differentiation between prosumers. The effectiveness of the approach is validated through software simulations, demonstrating scalability, faster convergence, easy implementation, and maximum social welfare/profit.
IEEE TRANSACTIONS ON SMART GRID
(2021)
Article
Operations Research & Management Science
Ben Li, Xiaolong Guo, Liang Liang
Summary: To mitigate the cost of overbooking penalties, airlines are adopting an intelligence-based opaque selling strategy to coordinate capacities among flights. This strategy involves setting opaque seats on several flights based on consumer attributes estimated from big data. The effectiveness of this strategy is explored using a newsvendor problem model, and the results show that adjusting capacities and prices according to demand variance and consumer preference variation can lead to a 40% profit increment compared to conventional strategies.
ANNALS OF OPERATIONS RESEARCH
(2023)
Article
Energy & Fuels
Li He, Yuanzhi Liu, Jie Zhang
Summary: This study introduces a peer-to-peer energy trading framework where interactions among the EP, prosumers, and consumers are optimized to achieve mutual benefits. Through a hierarchical approach, the framework allows for efficient management of energy sharing markets to balance supply and demand.
Article
Economics
Jidong Zhou
Summary: This paper proposes a framework for studying competitive mixed bundling with an arbitrary number of firms and finds that in a duopoly situation, mixed bundling has ambiguous impacts on prices, profits, and consumer surplus, while with many firms, mixed bundling typically lowers all prices, harms firms, and benefits consumers.
JOURNAL OF ECONOMIC THEORY
(2021)
Article
Green & Sustainable Science & Technology
Tin Huynh, Sebastian Gurtner
Summary: This study examines the barriers that hinder individuals from participating in the sharing economy. It finds that individuals' resistance to peer-to-peer (P2P) sharing is primarily driven by their unfavorable perceptions. Nonconsumers reject P2P consuming due to usage, value, trust, and economic risks, while nonproviders reject P2P providing because of usage and functional risks.
JOURNAL OF CLEANER PRODUCTION
(2023)
Article
Management
Scott Fay, Shahryar Gheibi
Summary: This study examines the effects of probabilistic selling (PS) on retailer-manufacturer interactions and how upstream competition impacts channel members' incentives to facilitate PS. The results show that PS can mitigate the inefficiencies caused by the double-marginalization problem. However, the market conditions for PS are relatively narrow, and PS shifts channel power toward the manufacturer. Nevertheless, a win-win-win outcome is possible, benefiting all parties involved.
M&SOM-MANUFACTURING & SERVICE OPERATIONS MANAGEMENT
(2023)
Article
Management
Jagan Jacob, Ricky Roet-Green
Summary: The study develops a queuing model to find the optimal revenue for ride-sharing platforms when passengers are strategic and drivers are independent agents. It shows that offering both solo and pooled rides is optimal when passenger distribution is not skewed and congestion is not high, with counterintuitive benefits from offering only one ride choice in high congestion scenarios. Simulation-based results further extend these findings in the presence of multiple routes.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2021)
Article
Economics
Kevin R. Williams
Summary: Airfares fluctuate due to demand shocks and intertemporal variation in willingness to pay. A model of dynamic airline pricing is used to evaluate the welfare effects, indicating that dynamic pricing benefits leisure consumers and harms business travelers. Although dynamic pricing ensures seat availability for business travelers, they are charged higher prices. Welfare is higher under dynamic pricing compared to uniform pricing at the market level, depending on the importance of demand shocks and overall demand elasticity.
Article
Psychology, Multidisciplinary
Shaozeng Dong, Mingqiao Luan, Lingming Chen, Zulqurnain Ali
Summary: This paper investigates the intrinsic connection between collaborative consumption and the sharing channel strategy. Adopting the sharing channel strategy enables the firm to expand market demand and improve its profit.
FRONTIERS IN PSYCHOLOGY
(2022)
Article
Construction & Building Technology
Joao Espadinha, Patricia Baptista, Diana Neves
Summary: Energy communities (ECs) are a feasible option for supporting local energy transition. Peer-to-peer (P2P) energy markets can promote local renewable self-consumption through trading among peers. However, the contribution of ECs to decarbonization goals is still uncertain. This study developed a P2P optimization model to evaluate the role of P2P in decarbonizing Portugal by 2050. The results show that collective self-consumption and P2P scenarios led to cost and CO2 emissions reductions at the national level, with most of the savings resulting from collective self-consumption. The services sector was the most active participant in P2P trading, while the industry sector obtained the lowest P2P prices.
SUSTAINABLE CITIES AND SOCIETY
(2023)
Article
Computer Science, Hardware & Architecture
Yunpeng Li, Costas A. Courcoubetis, Lingjie Duan, Richard Weber
Summary: This paper examines how a peer-to-peer sharing platform can maximize profit through different pricing strategies, considering the positive externalities brought by user participation. It explores the optimal pricing strategies for network services through different utility models and pricing schemes under incomplete information.
IEEE-ACM TRANSACTIONS ON NETWORKING
(2021)
Article
Hospitality, Leisure, Sport & Tourism
Paolo Roma, Umberto Panniello, Maria Vasi, Giovanna Lo Nigro
Summary: Research shows that the impact of Airbnb on hotels is related to the quality level of the hotel and the difference between booking and check-in time, with effects varying over time depending on the core segment hotels target.
JOURNAL OF HOSPITALITY AND TOURISM MANAGEMENT
(2021)
Article
Health Care Sciences & Services
Lauren E. Cipriano, Jeremy D. Goldhaber-Fiebert, Shan Liu, Thomas A. Weber
MEDICAL DECISION MAKING
(2018)
Article
Forestry
James A. Westfall, Andrew J. Lister, Charles T. Scott, Thomas A. Weber
EUROPEAN JOURNAL OF FOREST RESEARCH
(2019)
Article
Management
Naveed Chehrazi, Peter W. Glynn, Thomas A. Weber
MANAGEMENT SCIENCE
(2019)
Editorial Material
Computer Science, Information Systems
Robert J. Kauffman, Thomas A. Weber
JOURNAL OF MANAGEMENT INFORMATION SYSTEMS
(2019)
Article
Operations Research & Management Science
Thomas A. Weber
Summary: This paper investigates the binning of two types of parts with random characteristics to find optimal matching classes with minimum deviation to a target value. The balanced optimal matching classes ensure that the maximum error is the same across all classes, allowing for a complete solution to the minimum-error matching-class design problem.
OPERATIONS RESEARCH LETTERS
(2021)
Article
Economics
Thomas A. Weber
Summary: This paper examines the minimization of cost for an expected random production output, given an assembly of finished goods from two random inputs. The optimal input portfolio is described using the standard normal approximation and a tight concave envelope. Numerical studies confirm the practicality of the envelope approach.
JOURNAL OF MATHEMATICAL ECONOMICS
(2022)
Article
Economics
Thomas A. Weber
Summary: This paper proposes a robust decision-making framework based on a relative performance index. The worst-case relative performance index is represented as the lower envelope of two extremal performance ratios under certain preference conditions. The results are applied to compare the performance of relative robustness to other solutions in a specific application.
THEORY AND DECISION
(2023)
Article
Management
Jun Han, Thomas A. Weber
Summary: This paper investigates second-degree price discrimination under unknown or imperfectly specified type distribution using ambiguity sets. A performance index is used as a measure of robustness, quantifying the worst-case attainment ratio between actual and ex-post optimal payoff. The paper provides a simple representation of this index and a solution to the robust identification problem, leading to a robust product portfolio with worst-case performance across consumer types. A numerical comparison evaluates the robust solution against alternative belief heuristics.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2023)
Article
Business, Finance
Michael Mark, Jan Sila, Thomas A. Weber
Summary: This article constructs a 'reflexivity' index to measure the activity generated endogenously within a market for cryptocurrencies and analyzes high-frequency trading data using a Hawkes process. The study finds that the mid-price dynamics of Bitcoin exhibit long-memory properties and can be well explained by a power-law kernel.
EUROPEAN JOURNAL OF FINANCE
(2022)
Article
Computer Science, Information Systems
Thomas A. Weber
JOURNAL OF MANAGEMENT INFORMATION SYSTEMS
(2020)
Article
Physics, Fluids & Plasmas
Michael Mark, Thomas A. Weber
Article
Green & Sustainable Science & Technology
Maryam Razeghian, Thomas A. Weber
SUSTAINABLE PRODUCTION AND CONSUMPTION
(2019)
Article
Mathematics, Interdisciplinary Applications
Thomas A. Weber
INTERNATIONAL GAME THEORY REVIEW
(2019)
Article
Health Policy & Services
Lauren E. Cipriano, Thomas A. Weber
HEALTH CARE MANAGEMENT SCIENCE
(2018)