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- Publisher Website: 10.1016/j.ijpe.2011.12.019
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Article: Practical and effective contracts for the dominant retailer of a newsvendor product with price-sensitive demand
Title | Practical and effective contracts for the dominant retailer of a newsvendor product with price-sensitive demand |
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Authors | |
Keywords | Dominant retailer Newsvendor product Pricing Supply chain contracts |
Issue Date | 2012 |
Publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijpe |
Citation | International Journal Of Production Economics, 2012, v. 138 n. 1, p. 46-54 How to Cite? |
Abstract | A manufacturer supplies a newsvendor product to a dominant retailer, who does not know the manufacturers unit production cost k. The expected retail demand is a function of the unit retail price p. For this increasingly prevalent but rarely analyzed scenario, we compare the performance of several promising contract formats, including two new contract formats designed explicitly for a dominant retailer to implement, namely: (i) a retailer-implemented two-part tariffs where the retailer charges an upfront lump sum fee besides a fixed percentage markup over any given unit wholesale price, and (ii) a retailer-implemented volume discount scheme. We show that these two new formats perform substantially better than the currently-used practical formats. Thus, they form a basis for a dominant retailer to design a practical and effective purchase contract that approaches the power of the theoretically-optimal but impractical menu of contracts. © 2012 Elsevier B.V. All rights reserved. |
Persistent Identifier | http://hdl.handle.net/10722/166796 |
ISSN | 2023 Impact Factor: 9.8 2023 SCImago Journal Rankings: 3.074 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
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dc.contributor.author | Wang, JC | en_HK |
dc.contributor.author | Lau, AHL | en_HK |
dc.contributor.author | Lau, HS | en_HK |
dc.date.accessioned | 2012-09-20T08:48:29Z | - |
dc.date.available | 2012-09-20T08:48:29Z | - |
dc.date.issued | 2012 | en_HK |
dc.identifier.citation | International Journal Of Production Economics, 2012, v. 138 n. 1, p. 46-54 | en_HK |
dc.identifier.issn | 0925-5273 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/166796 | - |
dc.description.abstract | A manufacturer supplies a newsvendor product to a dominant retailer, who does not know the manufacturers unit production cost k. The expected retail demand is a function of the unit retail price p. For this increasingly prevalent but rarely analyzed scenario, we compare the performance of several promising contract formats, including two new contract formats designed explicitly for a dominant retailer to implement, namely: (i) a retailer-implemented two-part tariffs where the retailer charges an upfront lump sum fee besides a fixed percentage markup over any given unit wholesale price, and (ii) a retailer-implemented volume discount scheme. We show that these two new formats perform substantially better than the currently-used practical formats. Thus, they form a basis for a dominant retailer to design a practical and effective purchase contract that approaches the power of the theoretically-optimal but impractical menu of contracts. © 2012 Elsevier B.V. All rights reserved. | en_HK |
dc.language | eng | en_US |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijpe | en_HK |
dc.relation.ispartof | International Journal of Production Economics | en_HK |
dc.subject | Dominant retailer | en_HK |
dc.subject | Newsvendor product | en_HK |
dc.subject | Pricing | en_HK |
dc.subject | Supply chain contracts | en_HK |
dc.title | Practical and effective contracts for the dominant retailer of a newsvendor product with price-sensitive demand | en_HK |
dc.type | Article | en_HK |
dc.identifier.openurl | http://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0925-5273&volume=138 &issue=1&spage=46&epage=54&date=2012&atitle=Practical+and+Effective+Contracts+for+the+Dominant+Retailer+of+a+Newsvendor+Product+with+Price-Sensitive+Demand | en_US |
dc.identifier.email | Wang, JC: wangjc@business.hku.hk | en_HK |
dc.identifier.email | Lau, AHL: ahlau@business.hku.hk | en_HK |
dc.identifier.authority | Wang, JC=rp01107 | en_HK |
dc.identifier.authority | Lau, AHL=rp01072 | en_HK |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/j.ijpe.2011.12.019 | en_HK |
dc.identifier.scopus | eid_2-s2.0-84862809483 | en_HK |
dc.identifier.hkuros | 209955 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-84862809483&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 138 | en_HK |
dc.identifier.issue | 1 | en_HK |
dc.identifier.spage | 46 | en_HK |
dc.identifier.epage | 54 | en_HK |
dc.identifier.isi | WOS:000304218100005 | - |
dc.publisher.place | Netherlands | en_HK |
dc.identifier.scopusauthorid | Wang, JC=15838282400 | en_HK |
dc.identifier.scopusauthorid | Lau, AHL=7202626080 | en_HK |
dc.identifier.scopusauthorid | Lau, HS=7201497264 | en_HK |
dc.identifier.citeulike | 10165464 | - |
dc.identifier.issnl | 0925-5273 | - |