The value of information for price dependent demand

DOI10.1016/J.EJOR.2020.05.057MaRDI QIDQ2028889zbMATH OpenOpenAlexFDO

Authors Zhengwei Sun, Andrea C. Hupman, Ali Abbas

Publication date 3 June 2021

Published in European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.ejor.2020.05.057

zbMATH Keywords

decision analysispricingsupply chain managementvalue of informationprice elasticity of demand

Mathematics Subject Classification ID

Management decision making, including multiple objectives (90B50) Inventory, storage, reservoirs (90B05) Transportation, logistics and supply chain management (90B06)

Recommendations

• The value of information in oligopoly with demand uncertainty
• Value of information in competitive economies with incomplete markets
• Information acquisition, price informativeness, and welfare
• The Markovian price of information
• Imperfect common knowledge and the information value of prices
• The welfare costs of informationally efficient prices
• Market Selection and the Information Content of Prices
• The price for information about probabilities and its relation with risk and ambiguity
• A value function arising in the economics of information

Cites work

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Cited in

(7)

• The value of shared information for allocation of drivers in ride-hailing: a proof-of-concept study
• The value of information in a simple duopoly model
• Information-Based Relative Consumption Effects: Correction
• Stable allocations for choice-based collaborative price setting
• Price and revenue bounds for bundles of information goods
• Information and the divergence between willingness to accept and willingness to pay
• A normalized value for information purchases

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