We consider the problem of a newsvendor that is served by multiple suppliers, where any given supplier may be unreliable. By unreliable we simply mean that the marginal amount received from a supplier is no more than, and typically is less than, the marginal amount ordered from the supplier. In...

The dynamic pricing problem concerns the determination of selling prices over time for a product whose demand is random and whose supply is fixed. We approach this problem in a novel way by formulating a dynamic optimization model in which the demand function is iso-elastic but the random demand...