Dynamic Pricing and Inventory Control - No Backorders under Uncertainty and Competition

Recently revenue management has become popular in many industries suchas the airline the supply chain and the transportation industry. Decisionmakers realize that even small improvements in their operations can have asignificant impact on their profits. Nevertheless determining pricing and inventoryoptimal policies in more realistic settings may not be a tractable task.Ignoring the potential inaccuracy of parameters may lead to a solution thatactually performs poorly or even that violates some constraints. Finally competitorsimpact a supplier's best strategy by influencing her demand revenuesand field of possible actions. Taking a game theoretic approach anddetermining the equilibrium of the system can help understand its state inthe long run. This book presents a continuous time optimal control model forstudying a dynamic pricing and inventory control problem in a make-to-stockmulti-product capacitated manufacturing system in the presence of data uncertaintyand in a duopoly setting.The book is addressed to professionals in the Revenue Management and Pricingindustry and researchers in Operations Research Operations Managementand Industrial Engineering.