Retail pricing and clearance sales: the multiple product case

Article Abstract:

The relationship between retail pricing and optimal clearance sales of multiple products was investigated. A theoretical model developed by Van Praag and Bode (1992) was utilized to examine the case of a store selling more than one fashion-type commodity. Conditions in which it is optimal to increase the price of one commodity while reducing the price of another commodity were presented. It was found that an optimal clearance policy in the case of multiple products differs from that of a single commodity. Also, changes in demand over time affect the pricing of the different products.

Retail Trade, Sales Management, Econometrics & Model Building, Pricing Policy, Models, Prices and rates, Retail industry, Econometrics, Pricing, Business models, Special sales

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The economic advantage of least squares learning in a risky asset market

Article Abstract:

An analysis of the economic selection process in a heterogeneous market indicates that traders who learn, based on the dynamic equilibrium of the model, have an economic advantage over the unlearned traders. This advantage tends to reoccur over time. However, learners become subject to partial information. Traders who learn in the model use least squares updated methods and a realistic but partial forecasting model.

Asset & Risk Management, Research, Learning models (Stochastic processes), Rational expectations (Economics), Floor traders (Finance), Least squares, Stochastic models

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