Joint decision on pricing and advertising for competing retailers under emergency purchasing |
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| Institution: | 1. School of Economics and Management, Shanghai Maritime University, Shanghai 201306, China;2. College of Information and Management Science, Henan Agricultural University, Zhengzhou 450002, China;3. Research Center of Logistics, Shanghai Maritime University, Shanghai 201306, China;1. Department of Statistics and Quantitative Methods, University of Milano-Bicocca, Piazza dell’Ateneo Nuovo 1, 20126 Milano, Italy;2. CNRS, Centre d’Economie de la Sorbonne, Université Paris I Panthéon-Sorbonne, Maison des Sciences Economiques, 106-112 Boulevard de l’Hôpital 75647 Paris Cedex 13, France;3. Department of Methods and Models for Economics, Environment and Finance Sapienza University of Rome, via del Castro Laurenziano 9, Rome 00161, Italy;1. School of Finance, Southwestern University of Finance and Economics, Chengdu, China;2. Institute of Chinese Financial Studies, Southwestern University of Finance and Economics, Chengdu, China;3. Collaborative Innovation Center of Financial Security, Southwestern University of Finance and Economics, China;4. Business School, University of Western Australia, Perth, Australia;5. Sustainability Policy Institute, Curtin University, Perth, Australia |
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| Abstract: | This paper investigates an inventory decision problem under the pricing and advertising dependent stochastic demand, and considers a joint decision on pricing and advertising for competing retailers who operate short-life-cycle products under emergency purchasing. The results indicate that the retailer always prefers to advertise whether under a single or dual channel system. However, both the optimal prices and stocks increase, whereas customer welfare decreases. |
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