Stochastic Optimal Control for Dynamic Pricing and Production in Fashion Retailing: An Economic Sustainability Approach
This study develops a stochastic optimal control model to optimize dynamic pricing and production strategies for fashion retailers facing uncertain demand and rapid product devaluation. Applying the Hamilton–Jacobi–Bellman equation approach, we derive profit-maximizing joint pricing and production p...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2024-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/ddns/4854557 |
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