Optimal Auctioning and Ordering in an Infinite Horizon Inventory-Pricing System

Abstract

We consider a joint inventory-pricing problem in which buyers act strategically and bid for units of a firm’s product over an infinite horizon. The number of bidders in each period, as well as the individual bidders’ valuations, are random but stationary over time. There is a holding cost for inventory and a unit cost for ordering more stock from an outside… (More)
DOI: 10.1287/opre.1040.0105

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@article{Ryzin2004OptimalAA, title={Optimal Auctioning and Ordering in an Infinite Horizon Inventory-Pricing System}, author={Garrett J. van Ryzin and Gustavo J. Vulcano}, journal={Operations Research}, year={2004}, volume={52}, pages={346-367} }