| Article ID: | iaor19992184 |
| Country: | India |
| Volume: | 19 |
| Issue: | 2 |
| Start Page Number: | 173 |
| End Page Number: | 183 |
| Publication Date: | May 1998 |
| Journal: | Information & Optimization Sciences |
| Authors: | Nakai Teruhisa |
We consider an optimal decision model of price and stock level. Detailed optimal policies are obtained in the cases of both a linear demand function and a constant price elasticity of demand. Further the method is demonstrated in the case of random demand.