This article studies a two-firm dynamic pricing model with random production costs. The firms produce the same perishable products over an infinite time horizon when production (or operation) costs are random. In each period, each firm determines its price and production levels based on its...

In this study, we contribute to the dynamic pricing literature by developing a finite horizon model for two firms offering substitutable and nonperishable products with different quality levels. Customers can purchase and store the products, even if they do not need them at the time, in order to...

To formulate stochastic capacity allocation problems in a manufacturing system, the concept and techniques of revenue management is applied in this research. It is assumed the production capacity is stochastic and hence its exact size cannot be forecasted in advance, at the time of planning....

Coordination of decentralized supply chains using contract design is a problem that has been widely addressed in the literature. We consider a divergent supply chain including a supplier and several retailers producing fashion products with short sale seasons. The retailers cooperate with the...

One concern of many investors is to own the assets which can be liquidated easily. Thus, in this paper, we incorporate portfolio liquidity in our proposed model. Liquidity is measured by an index called turnover rate. Since the return of an asset is uncertain, we present it as a trapezoidal...