Journal article

Optimal Pricing Model for Perishable Commodities and its Particle Swarm Optimization Solution

Tongqing Ding, Tian Peng, Tian Zhiyou

Computer Engineering and Applications Journal | UNSRI and IAES Indonesia Section | Published : 2005

Abstract

The pricing problem for perishable commodities is considered in this paper.And a new model is presented based on the profit maximization principle and a discrete demand function which involves the demand rate,buyers' preferences,and a negative binomial distribution.Because of the existence of some different stochastic distributions,this new model is more sophisticate than those in extant literature,which causes the difficulty in solving it with the normal numerical methods.In this context,this paper tries introducing the particle swarm optimization(PSO) algorithm to solve this new model.Then a PSO program scheme is designed and a case study is presented,which indicates that this model and al..

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University of Melbourne Researchers