Retail store location and pricing within a competitive environment using constrained multinomial logit

Gabriel Zambrano-Rey, Héctor López-Ospina, Juan Eduardo Pérez

Resultado de la investigación: Contribución a una revistaArtículorevisión exhaustiva

7 Citas (Scopus)

Resumen

The purpose of this paper is to report a pricing and retail location model using the constrained multinomial logit (CMNL), which takes into account customers’ utility and maximum willingness to pay via cut-off soft-constraints. The proposed model is probabilistic and non-linear, therefore a PSO metaheuristic approach was designed to determine the most suitable price, store locations and demand segmentation. The results obtained in test-cases showed a close relationship between price and location decisions. In addition, the results suggest that not only price, but also location decisions are affected when the consumers’ maximum willingness to pay is considered.

Idioma originalInglés
Páginas (desde-hasta)521-534
Número de páginas14
PublicaciónApplied Mathematical Modelling
Volumen75
DOI
EstadoPublicada - nov 2019

Nota bibliográfica

Publisher Copyright:
© 2019 Elsevier Inc.

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