IDEAS home Printed from https://ideas.repec.org/a/rom/mancon/v11y2017i1p1-8.html
   My bibliography  Save this article

A Nonlinear Microeconomic Model Of Goods Production And Sale Using Functional Analysis

Author

Listed:
  • Veronika NOVOTNA
  • Stanislav SKAPA

Abstract

Mathematical methods have been used with increasing success in solving particular tasks of dynamic process modelling, both in macroeconomics and in microeconomics. The efforts to simulate processes in situations when experiments on real objects cannot be performed or such experiments would be uneconomical are the most frequent reason for modelling in microeconomics. This paper presents a nonlinear dynamic model of production, storage and sale of daily consumer goods, ac-counting for the impact of history on the behaviour of the respective values at present. The model is described using the so-called ordinary delay differential equations and may be used in production planning or as a part of models addressing issues of cooperation or competition. The solution is demonstrated on a practical example and is presented graphically.

Suggested Citation

  • Veronika NOVOTNA & Stanislav SKAPA, 2017. "A Nonlinear Microeconomic Model Of Goods Production And Sale Using Functional Analysis," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(1), pages 1-8, November.
    • Handle: RePEc:rom:mancon:v:11:y:2017:i:1:p:1-8
    as

    Download full text from publisher

    File URL: https://conference.management.ase.ro/archives/2017/pdf/1_1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Zhang, Jie & Kevin Chiang, Wei–yu & Liang, Liang, 2014. "Strategic pricing with reference effects in a competitive supply chain," Omega, Elsevier, vol. 44(C), pages 126-135.
    2. Jan K. Brueckner & Darin N. Lee & Pierre M. Picard & Ethan Singer, 2015. "Product Unbundling in the Travel Industry: The Economics of Airline Bag Fees," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 24(3), pages 457-484, September.
    3. Guillermo Gallego & Ming Hu, 2014. "Dynamic Pricing of Perishable Assets Under Competition," Management Science, INFORMS, vol. 60(5), pages 1241-1259, May.
    4. Jeffrey D. Shulman & Xianjun Geng, 2013. "Add-on Pricing by Asymmetric Firms," Management Science, INFORMS, vol. 59(4), pages 899-917, April.
    5. Bakker, Monique & Riezebos, Jan & Teunter, Ruud H., 2012. "Review of inventory systems with deterioration since 2001," European Journal of Operational Research, Elsevier, vol. 221(2), pages 275-284.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhang, Jianxiong & Wang, Yu & Lu, Lihao & Tang, Wansheng, 2015. "Optimal dynamic pricing and replenishment cycle for non-instantaneous deterioration items with inventory-level-dependent demand," International Journal of Production Economics, Elsevier, vol. 170(PA), pages 136-145.
    2. Fiore, Alexander & Zanzalari, Danielle, 2023. "The competitive effects of product unbundling: Evidence from U.S. airlines," Journal of Air Transport Management, Elsevier, vol. 112(C).
    3. Ødegaard, Fredrik & Wilson, John G., 2016. "Dynamic pricing of primary products and ancillary services," European Journal of Operational Research, Elsevier, vol. 251(2), pages 586-599.
    4. Marco Savioli & Lorenzo Zirulia, 2020. "Does add-on presence always lead to lower baseline prices? Theory and evidence," Journal of Economics, Springer, vol. 129(2), pages 143-172, March.
    5. Adam Bockelie & Peter Belobaba, 2017. "Incorporating ancillary services in airline passenger choice models," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 16(6), pages 553-568, December.
    6. Yao Cui & Izak Duenyas & Ozge Sahin, 2018. "Unbundling of Ancillary Service: How Does Price Discrimination of Main Service Matter?," Manufacturing & Service Operations Management, INFORMS, vol. 20(3), pages 455-466, July.
    7. Hu, Li & Ma, Hoi-Lam & Wang, Li & Liu, Yang, 2023. "Hiding or disclosing? Information discrimination in member-only discounts," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 171(C).
    8. Régis Chenavaz & Corina Paraschiv & Gabriel Turinici, 2017. "Dynamic Pricing of New Products in Competitive Markets: A Mean-Field Game Approach," Working Papers hal-01592958, HAL.
    9. Jun Li & Serguei Netessine & Sergei Koulayev, 2018. "Price to Compete … with Many: How to Identify Price Competition in High-Dimensional Space," Management Science, INFORMS, vol. 64(9), pages 4118-4136, September.
    10. Bo Wang & Ning Wang, 2022. "Decision Models for a Dual-Recycling Channel Reverse Supply Chain with Consumer Strategic Behavior," Sustainability, MDPI, vol. 14(17), pages 1-18, August.
    11. Xujin Pu & Huanzhen Zhang, 2016. "Voluntary Certification of Agricultural Products in Competitive Markets: The Consideration of Boundedly Rational Consumers," Sustainability, MDPI, vol. 8(9), pages 1-13, September.
    12. V. Radhamani & B. Sivakumar & G. Arivarignan, 2022. "A Comparative Study on Replenishment Policies for Perishable Inventory System with Service Facility and Multiple Server Vacation," OPSEARCH, Springer;Operational Research Society of India, vol. 59(1), pages 229-265, March.
    13. William L. Cooper & Tito Homem-de-Mello & Anton J. Kleywegt, 2015. "Learning and Pricing with Models That Do Not Explicitly Incorporate Competition," Operations Research, INFORMS, vol. 63(1), pages 86-103, February.
    14. Chenavaz, Régis & Paraschiv, Corina, 2018. "Dynamic pricing for inventories with reference price effects," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 12, pages 1-16.
    15. Qi Chen & Qi Xu & Wenjie Wang, 2019. "Optimal Policies for the Pricing and Replenishment of Fashion Apparel considering the Effect of Fashion Level," Complexity, Hindawi, vol. 2019, pages 1-12, February.
    16. Alamri, Adel A. & Syntetos, Aris A., 2018. "Beyond LIFO and FIFO: Exploring an Allocation-In-Fraction-Out (AIFO) policy in a two-warehouse inventory model," International Journal of Production Economics, Elsevier, vol. 206(C), pages 33-45.
    17. Kouki, Chaaben & Babai, M. Zied & Jemai, Zied & Minner, Stefan, 2016. "A coordinated multi-item inventory system for perishables with random lifetime," International Journal of Production Economics, Elsevier, vol. 181(PA), pages 226-237.
    18. Ryan Donnelly & Zi Li, 2022. "Dynamic Inventory Management with Mean-Field Competition," Papers 2210.17208, arXiv.org.
    19. Wu, Jiang & Chang, Chun-Tao & Teng, Jinn-Tsair & Lai, Kuei-Kuei, 2017. "Optimal order quantity and selling price over a product life cycle with deterioration rate linked to expiration date," International Journal of Production Economics, Elsevier, vol. 193(C), pages 343-351.
    20. Zhaofu Hong & Hao Wang & Yeming Gong, 2019. "Green product design considering functional-product reference," Post-Print hal-02312293, HAL.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rom:mancon:v:11:y:2017:i:1:p:1-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ciocoiu Nadia Carmen (email available below). General contact details of provider: https://edirc.repec.org/data/mnasero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.