Figure 1.
The impact of the sales agent's degree of overconfidence on his optimal effort
-
Previous Article
Throughput of flow lines with unreliable parallel-machine workstations and blocking
- JIMO Home
- This Issue
-
Next Article
A memory gradient method based on the nonmonotone technique
April
2017, 13(2): 873-899.
doi: 10.3934/jimo.2016051
Salesforce contract design, joint pricing and production planning with asymmetric overconfidence sales agent
| 1. | School of Management, China University of Mining and Technology, Xuzhou, China |
| 2. | College of Information Science and Engineering, State Key Laboratory of Synthetical Automation for Process Industries, Northeastern University, Shenyang, China |
| 3. | Advanced Modeling and Applied Computing Laboratory, Department of Mathematics, The University of Hong Kong, Pokfulam Road, Hong Kong, China |
We study a supply chain in which a rational manufacturer relies on an overconfident sales agent to sell the products. The actual sales outcome is determined by the sales agent's selling effort, the product price and a random market condition, and the sales agent is overconfident in their estimation of sales outcome. Apart from them, both of the sales agent's degree of overconfidence and selling effort are his private information. We consider the salesforce incentive to motivate the sales agent and screen his real degree of overconfidence using a principle-agent method under dual information asymmetry, then the manufacturer uses the information to realize her joint decision on pricing and production. Furthermore, we derive the optimal compensation contract as well as the optimal pricing and production, and compare it to the symmetric overconfidence scenario. Finally, some interesting insights are found: when the manufacturer is uncertain about the sales agent's the degree of overconfidence, her expected profit decreases while the sales agent with private information exerts less effort but obtains higher income, which implies the value of information; the manufacturer should hire a more overconfident sales agent, while a higher commission rate is not guaranteed. These results suggest that the manufacturer should not only focus on hiring the overconfident sales agent but also on disclosing the degree of overconfidence.
Keywords:
Overconfidence,
asymmetric information,
salesforce incentive,
optimal pricing and production.
Mathematics Subject Classification:
Primary: 90B05; Secondary: 91B42.
Citation:
Kegui Chen, Xinyu Wang, Min Huang, Wai-Ki Ching. Salesforce contract design, joint pricing and production planning with asymmetric overconfidence sales agent. Journal of Industrial and Management Optimization,
2017, 13
(2)
: 873-899.
doi: 10.3934/jimo.2016051
![]()
References:
| [1] |
A. Basu, R. Lal, V. Srinivasan and R. Staelin,
Salesforce-compensation plans: An agency theoretic perspective, Marketing Science, 4 (1985), 267-291.
doi: 10.1287/mksc.4.4.267. |
| [2] |
E. Bendoly, R. Croson, P. Goncalves and K. Schultz,
Bodies of knowledge for research in behavioral operations, Production and Operations Management, 19 (2010), 434-452.
doi: 10.1111/j.1937-5956.2009.01108.x. |
| [3] |
L. W. Busenitz and J. B. Barney,
Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making, Journal of Business Venturing, 12 (1997), 9-30.
|
| [4] |
O. Caliskan-Demirag, Y. F. Chen and J. B. Li,
Channel coordination under fairness concerns and nonlinear demand, European Journal of Operational Research, 207 (2010), 1321-1326.
doi: 10.1016/j.ejor.2010.07.017. |
| [5] |
E. Cao, Y. Ma, C. Wan and M. Lai,
Contracting with asymmetric cost information in a dual-channel supply chain, Operations Research Letters, 41 (2013), 410-414.
doi: 10.1016/j.orl.2013.04.013. |
| [6] |
X. Chao, B. Yang and Y. Xu,
Dynamic inventory and pricing policy in a capacitated stochastic inventory system with fixed ordering cost, Operations Research Letters, 40 (2010), 99-107.
doi: 10.1016/j.orl.2011.12.002. |
| [7] |
F. Chen,
Salesforce incentives, market information and production/inventory planning, Management Science, 51 (2005), 60-75.
doi: 10.1287/mnsc.1040.0217. |
| [8] |
Y. J. Chen, S. Shum and W. Q. Xiao,
Should an OEM retain component procurement when the CM produces competing products, Production and Operations Management, 21 (2012), 907-922.
doi: 10.1111/j.1937-5956.2012.01325.x. |
| [9] |
C. H. Chiu, T. M. Choi and C. S. Tang,
Price, rebate, and returns supply contracts for coordinating supply chains with price dependent demand, Production and Operations Management, 20 (2011), 81-91.
doi: 10.1111/j.1937-5956.2010.01159.x. |
| [10] |
P. S. Chow, Y. Wang, T. M. Choi and B. Shen,
An experimental study on the effects of minimum profit share on supply chains with markdown contracts: risk and profit analysis, Omega, 57 (2015), 85-97.
doi: 10.1016/j.omega.2013.11.007. |
| [11] |
A. T. Coughlan, Salesforce Compensation: A Review of MS/OR Advances, In: Eliashberg, J., G. L. Lilien (eds.), Handbook in Operations Research and Management Science, 1993. |
| [12] |
T. H. Cui, J. S. Raju and Z. J. Zhang,
Fairness and channel coordination, Management Science, 53 (2007), 1303-1314.
|
| [13] |
Y. Dai and X. L. Chao,
Salesforce contract design and inventory planning with asymmetric risk-averse sales agents, Operations Research Letters, 41 (2013), 86-91.
doi: 10.1016/j.orl.2012.11.010. |
| [14] |
F. Englmaier and A. Wambach A,
Optimal incentive contracts under inequity aversion, Games and Economic Behavior, 69 (2010), 312-328.
doi: 10.1016/j.geb.2009.12.007. |
| [15] |
B. Fernando, J. Song and X. Zheng,
Free riding in a multi-channel supply chain, Naval Research Logistics, 56 (2009), 745-765.
doi: 10.1002/nav.20379. |
| [16] |
D. Garcia, F. Sangiorgi and B. Urosevic,
Overconfidence and market efficiency with heterogeneous agents, Economic Theory, 30 (2007), 313-336.
doi: 10.1007/s00199-005-0048-4. |
| [17] |
J. Gonik,
The salesmen's bonuses to their forecasts, Harvard Business Review, 56 (1978), 116-123.
|
| [18] |
A. Hung and C. Plott,
Information cascades: Replication and an extension to majority rule and conformity rewarding institutions, American Economic Review, 91 (2001), 1508-1520.
doi: 10.1257/aer.91.5.1508. |
| [19] |
T. H. Ho, X. Su and Y. Wu,
Distributional and peer-induced fairness in supply chain contract design, Historical Journal of Film Radio & Television, 23 (2014), 161-175.
|
| [20] |
D. Kahneman and A. Tversky,
Prospect theory: An analysis of decision under risk, Econometrica, 47 (1979), 263-291.
|
| [21] |
E. Katok and V. Pavlov,
Fairness in supply chain contracts: A laboratory study, Journal of Operations Management, 31 (2013), 129-137.
doi: 10.1016/j.jom.2013.01.001. |
| [22] |
M. Kaya and O. Ozer,
Quality risk in outsourcing: Noncontractible product quality and private quality cost information, Naval Research Logistics, 56 (2009), 669-685.
doi: 10.1002/nav.20372. |
| [23] |
K. L. Keiber, Managerial Compensation Contracts and Overconfidence, Working paper, WHU Otto Beisheim Graduate School of Management, Vallendar, 2002.
doi: 10.2139/ssrn.302416. |
| [24] |
L. C. Kung and Y. J. Chen,
Monitoring the market or the salesperson? The value of information in a multilayer supply chain, Naval Research Logistics, 58 (2011), 743-762.
doi: 10.1002/nav.20480. |
| [25] |
C. Y. Lee and R. Yang,
Compensation plan for competing salespersons under asymmetric information, European Journal of Operational Research, 227 (2013), 570-580.
doi: 10.1016/j.ejor.2013.01.007. |
| [26] |
C. Y. Lee and R. Yang,
Supply chain contracting with competing suppliers under asymmetric information, IIE Transactions, 45 (2013), 25-52.
doi: 10.1080/0740817X.2012.662308. |
| [27] |
Y. Li, M. Shan and M. Z. F. Li,
Advance selling decisions with overconfident consumers, Journal of Industrial & Management Optimization, 12 (2016), 891-905.
doi: 10.3934/jimo.2016.12.891. |
| [28] |
B. Liu, R. Zhang and M. D. Xiao,
Joint decision on production and pricing for online dual channel supply chain system, Applied Mathematical Modelling, 34 (2010), 4208-4218.
doi: 10.1016/j.apm.2010.04.018. |
| [29] |
C. H. Loch, Behavioral Operations Management, Now Publishers Inc, Hanover, 2007.
doi: 10.1561/0200000009.
|
| [30] |
S. Ludwig, P. C. Wichardt and H. Wickhorst,
Overconfidence can improve an agent's relative and absolute performance in contests, Economics Letters, 110 (2011), 193-196.
doi: 10.1016/j.econlet.2010.11.040. |
| [31] |
U. Malmendier and G. Tate, CEO Overconfidence and Corporate Investment, Harvard University, 2002. |
| [32] |
D. A. Moore and P. J. Healy,
The trouble with overconfidence, Psychological review, 115 (2008), 502-517.
doi: 10.1037/0033-295X.115.2.502. |
| [33] |
S. Oh, K. Sourirajan and M. Ettl,
Joint pricing and production decisions in an assemble-to-order system, Manufacturing & Service Operations Management, 16 (2014), 529-543.
doi: 10.1287/msom.2014.0492. |
| [34] |
S. Oskamp,
Overconfidence in case study judgment, Journal of Consulting Psychology, 29 (1965), 261-265.
|
| [35] |
O. Ozer and G. Raz,
Supply chain sourcing under asymmetric information, Production and Operations Management, 20 (2011), 92-115.
|
| [36] |
S. Pal, S. S. Sana and K. Chaudhuri,
Joint pricing and ordering policy for two echelon imperfect production inventory model with two cycles, International Journal of Production Economics, 155 (2014), 229-238.
doi: 10.1016/j.ijpe.2013.11.027. |
| [37] |
V. Pavlov and E. Katok, Fairness and Coordination Failures in Supply Chain Contracts, Working paper, Smeal College of Business, Pennsylvania State University, Pennsylvania, 2009.
doi: 10.2139/ssrn.2623821. |
| [38] |
Y. Qin, J. Wang and C. Wei,
Joint pricing and inventory control for fresh produce and foods with quality and physical quantity deteriorating simultaneously, International Journal of Production Economics, 152 (2014), 42-48.
doi: 10.1016/j.ijpe.2014.01.005. |
| [39] |
L. E. De la Rosa,
Overconfidence and moral hazard, Games and Economic Behavior, 73 (2011), 429-451.
doi: 10.1016/j.geb.2011.04.001. |
| [40] |
Y. Ren and R. Croson,
Overconfidence in newsvendor orders: An experimental study, Management Science, 59 (2013), 2502-2517.
doi: 10.1287/mnsc.2013.1715. |
| [41] |
J. E. Russo and P. J. H. Schoemaker,
Managing Overconfidence, Sloan Management Review, 33 (1992), 7-17.
|
| [42] |
S. Saghafian and X. Chao,
The impact of operational decisions on the design of salesforce incentives, Naval Research Logistics, 61 (2014), 320-340.
doi: 10.1002/nav.21585. |
| [43] |
A. Sandroni and F. Squintani,
Overconfidence and asymmetric information: The case of insurance, Journal of Economic Behavior & Organization, 90 (2013), 149-165.
|
| [44] |
T. Steenburgh and M. Ahearne,
Motivating salespeople: what really works, Harvard Business Review, 90 (2012), 70-75.
|
| [45] |
T. A. Taylor,
Supply chain coordination under channel rebates with sales effort effects, Management Science, 48 (2002), 992-1007.
doi: 10.1287/mnsc.48.8.992.168. |
| [46] |
T. A. Taylor,
Sale Timing in a supply chain: When to sell to the retailer, Manufacturing & Service Operations Management, 8 (2006), 23-42.
doi: 10.1287/msom.1050.0089. |
| [47] |
H. Xu, N. Shi, S. Ma and K. K. Lai,
Contracting with an urgent supplier under cost information asymmetry, European Journal of Operational Research, 206 (2010), 374-383.
doi: 10.1016/j.ejor.2010.03.012. |
| [48] |
J. Wei, K. Govindan, Y. Li and J. Zhao,
Pricing and collecting decisions in a closed-loop supply chain with symmetric and asymmetric information, Computers & Operations Research, 54 (2015), 257-265.
doi: 10.1016/j.cor.2013.11.021. |
| [49] |
P. Zhang, Y. Xiong, Z. Xiong and W. Yan,
Designing contracts for a closed-loop supply chain under information asymmetry, Operations Research Letters, 42 (2014), 150-155.
doi: 10.1016/j.orl.2014.01.004. |
| [50] |
A. A. Zoltners, P. Sinha and S. E. Lorimer,
Sales force effectiveness: A framework for researchers and practitioners, Journal of Personal Selling & Sales Management, 28 (2008), 115-131.
doi: 10.2753/PSS0885-3134280201. |
show all references
References:
| [1] |
A. Basu, R. Lal, V. Srinivasan and R. Staelin,
Salesforce-compensation plans: An agency theoretic perspective, Marketing Science, 4 (1985), 267-291.
doi: 10.1287/mksc.4.4.267. |
| [2] |
E. Bendoly, R. Croson, P. Goncalves and K. Schultz,
Bodies of knowledge for research in behavioral operations, Production and Operations Management, 19 (2010), 434-452.
doi: 10.1111/j.1937-5956.2009.01108.x. |
| [3] |
L. W. Busenitz and J. B. Barney,
Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making, Journal of Business Venturing, 12 (1997), 9-30.
|
| [4] |
O. Caliskan-Demirag, Y. F. Chen and J. B. Li,
Channel coordination under fairness concerns and nonlinear demand, European Journal of Operational Research, 207 (2010), 1321-1326.
doi: 10.1016/j.ejor.2010.07.017. |
| [5] |
E. Cao, Y. Ma, C. Wan and M. Lai,
Contracting with asymmetric cost information in a dual-channel supply chain, Operations Research Letters, 41 (2013), 410-414.
doi: 10.1016/j.orl.2013.04.013. |
| [6] |
X. Chao, B. Yang and Y. Xu,
Dynamic inventory and pricing policy in a capacitated stochastic inventory system with fixed ordering cost, Operations Research Letters, 40 (2010), 99-107.
doi: 10.1016/j.orl.2011.12.002. |
| [7] |
F. Chen,
Salesforce incentives, market information and production/inventory planning, Management Science, 51 (2005), 60-75.
doi: 10.1287/mnsc.1040.0217. |
| [8] |
Y. J. Chen, S. Shum and W. Q. Xiao,
Should an OEM retain component procurement when the CM produces competing products, Production and Operations Management, 21 (2012), 907-922.
doi: 10.1111/j.1937-5956.2012.01325.x. |
| [9] |
C. H. Chiu, T. M. Choi and C. S. Tang,
Price, rebate, and returns supply contracts for coordinating supply chains with price dependent demand, Production and Operations Management, 20 (2011), 81-91.
doi: 10.1111/j.1937-5956.2010.01159.x. |
| [10] |
P. S. Chow, Y. Wang, T. M. Choi and B. Shen,
An experimental study on the effects of minimum profit share on supply chains with markdown contracts: risk and profit analysis, Omega, 57 (2015), 85-97.
doi: 10.1016/j.omega.2013.11.007. |
| [11] |
A. T. Coughlan, Salesforce Compensation: A Review of MS/OR Advances, In: Eliashberg, J., G. L. Lilien (eds.), Handbook in Operations Research and Management Science, 1993. |
| [12] |
T. H. Cui, J. S. Raju and Z. J. Zhang,
Fairness and channel coordination, Management Science, 53 (2007), 1303-1314.
|
| [13] |
Y. Dai and X. L. Chao,
Salesforce contract design and inventory planning with asymmetric risk-averse sales agents, Operations Research Letters, 41 (2013), 86-91.
doi: 10.1016/j.orl.2012.11.010. |
| [14] |
F. Englmaier and A. Wambach A,
Optimal incentive contracts under inequity aversion, Games and Economic Behavior, 69 (2010), 312-328.
doi: 10.1016/j.geb.2009.12.007. |
| [15] |
B. Fernando, J. Song and X. Zheng,
Free riding in a multi-channel supply chain, Naval Research Logistics, 56 (2009), 745-765.
doi: 10.1002/nav.20379. |
| [16] |
D. Garcia, F. Sangiorgi and B. Urosevic,
Overconfidence and market efficiency with heterogeneous agents, Economic Theory, 30 (2007), 313-336.
doi: 10.1007/s00199-005-0048-4. |
| [17] |
J. Gonik,
The salesmen's bonuses to their forecasts, Harvard Business Review, 56 (1978), 116-123.
|
| [18] |
A. Hung and C. Plott,
Information cascades: Replication and an extension to majority rule and conformity rewarding institutions, American Economic Review, 91 (2001), 1508-1520.
doi: 10.1257/aer.91.5.1508. |
| [19] |
T. H. Ho, X. Su and Y. Wu,
Distributional and peer-induced fairness in supply chain contract design, Historical Journal of Film Radio & Television, 23 (2014), 161-175.
|
| [20] |
D. Kahneman and A. Tversky,
Prospect theory: An analysis of decision under risk, Econometrica, 47 (1979), 263-291.
|
| [21] |
E. Katok and V. Pavlov,
Fairness in supply chain contracts: A laboratory study, Journal of Operations Management, 31 (2013), 129-137.
doi: 10.1016/j.jom.2013.01.001. |
| [22] |
M. Kaya and O. Ozer,
Quality risk in outsourcing: Noncontractible product quality and private quality cost information, Naval Research Logistics, 56 (2009), 669-685.
doi: 10.1002/nav.20372. |
| [23] |
K. L. Keiber, Managerial Compensation Contracts and Overconfidence, Working paper, WHU Otto Beisheim Graduate School of Management, Vallendar, 2002.
doi: 10.2139/ssrn.302416. |
| [24] |
L. C. Kung and Y. J. Chen,
Monitoring the market or the salesperson? The value of information in a multilayer supply chain, Naval Research Logistics, 58 (2011), 743-762.
doi: 10.1002/nav.20480. |
| [25] |
C. Y. Lee and R. Yang,
Compensation plan for competing salespersons under asymmetric information, European Journal of Operational Research, 227 (2013), 570-580.
doi: 10.1016/j.ejor.2013.01.007. |
| [26] |
C. Y. Lee and R. Yang,
Supply chain contracting with competing suppliers under asymmetric information, IIE Transactions, 45 (2013), 25-52.
doi: 10.1080/0740817X.2012.662308. |
| [27] |
Y. Li, M. Shan and M. Z. F. Li,
Advance selling decisions with overconfident consumers, Journal of Industrial & Management Optimization, 12 (2016), 891-905.
doi: 10.3934/jimo.2016.12.891. |
| [28] |
B. Liu, R. Zhang and M. D. Xiao,
Joint decision on production and pricing for online dual channel supply chain system, Applied Mathematical Modelling, 34 (2010), 4208-4218.
doi: 10.1016/j.apm.2010.04.018. |
| [29] |
C. H. Loch, Behavioral Operations Management, Now Publishers Inc, Hanover, 2007.
doi: 10.1561/0200000009.
|
| [30] |
S. Ludwig, P. C. Wichardt and H. Wickhorst,
Overconfidence can improve an agent's relative and absolute performance in contests, Economics Letters, 110 (2011), 193-196.
doi: 10.1016/j.econlet.2010.11.040. |
| [31] |
U. Malmendier and G. Tate, CEO Overconfidence and Corporate Investment, Harvard University, 2002. |
| [32] |
D. A. Moore and P. J. Healy,
The trouble with overconfidence, Psychological review, 115 (2008), 502-517.
doi: 10.1037/0033-295X.115.2.502. |
| [33] |
S. Oh, K. Sourirajan and M. Ettl,
Joint pricing and production decisions in an assemble-to-order system, Manufacturing & Service Operations Management, 16 (2014), 529-543.
doi: 10.1287/msom.2014.0492. |
| [34] |
S. Oskamp,
Overconfidence in case study judgment, Journal of Consulting Psychology, 29 (1965), 261-265.
|
| [35] |
O. Ozer and G. Raz,
Supply chain sourcing under asymmetric information, Production and Operations Management, 20 (2011), 92-115.
|
| [36] |
S. Pal, S. S. Sana and K. Chaudhuri,
Joint pricing and ordering policy for two echelon imperfect production inventory model with two cycles, International Journal of Production Economics, 155 (2014), 229-238.
doi: 10.1016/j.ijpe.2013.11.027. |
| [37] |
V. Pavlov and E. Katok, Fairness and Coordination Failures in Supply Chain Contracts, Working paper, Smeal College of Business, Pennsylvania State University, Pennsylvania, 2009.
doi: 10.2139/ssrn.2623821. |
| [38] |
Y. Qin, J. Wang and C. Wei,
Joint pricing and inventory control for fresh produce and foods with quality and physical quantity deteriorating simultaneously, International Journal of Production Economics, 152 (2014), 42-48.
doi: 10.1016/j.ijpe.2014.01.005. |
| [39] |
L. E. De la Rosa,
Overconfidence and moral hazard, Games and Economic Behavior, 73 (2011), 429-451.
doi: 10.1016/j.geb.2011.04.001. |
| [40] |
Y. Ren and R. Croson,
Overconfidence in newsvendor orders: An experimental study, Management Science, 59 (2013), 2502-2517.
doi: 10.1287/mnsc.2013.1715. |
| [41] |
J. E. Russo and P. J. H. Schoemaker,
Managing Overconfidence, Sloan Management Review, 33 (1992), 7-17.
|
| [42] |
S. Saghafian and X. Chao,
The impact of operational decisions on the design of salesforce incentives, Naval Research Logistics, 61 (2014), 320-340.
doi: 10.1002/nav.21585. |
| [43] |
A. Sandroni and F. Squintani,
Overconfidence and asymmetric information: The case of insurance, Journal of Economic Behavior & Organization, 90 (2013), 149-165.
|
| [44] |
T. Steenburgh and M. Ahearne,
Motivating salespeople: what really works, Harvard Business Review, 90 (2012), 70-75.
|
| [45] |
T. A. Taylor,
Supply chain coordination under channel rebates with sales effort effects, Management Science, 48 (2002), 992-1007.
doi: 10.1287/mnsc.48.8.992.168. |
| [46] |
T. A. Taylor,
Sale Timing in a supply chain: When to sell to the retailer, Manufacturing & Service Operations Management, 8 (2006), 23-42.
doi: 10.1287/msom.1050.0089. |
| [47] |
H. Xu, N. Shi, S. Ma and K. K. Lai,
Contracting with an urgent supplier under cost information asymmetry, European Journal of Operational Research, 206 (2010), 374-383.
doi: 10.1016/j.ejor.2010.03.012. |
| [48] |
J. Wei, K. Govindan, Y. Li and J. Zhao,
Pricing and collecting decisions in a closed-loop supply chain with symmetric and asymmetric information, Computers & Operations Research, 54 (2015), 257-265.
doi: 10.1016/j.cor.2013.11.021. |
| [49] |
P. Zhang, Y. Xiong, Z. Xiong and W. Yan,
Designing contracts for a closed-loop supply chain under information asymmetry, Operations Research Letters, 42 (2014), 150-155.
doi: 10.1016/j.orl.2014.01.004. |
| [50] |
A. A. Zoltners, P. Sinha and S. E. Lorimer,
Sales force effectiveness: A framework for researchers and practitioners, Journal of Personal Selling & Sales Management, 28 (2008), 115-131.
doi: 10.2753/PSS0885-3134280201. |
Figure 2.
The impact of the sales agent's degree of overconfidence on the commission rate
Figure 3.
The impact of the sales agent's degree of overconfidence on the price
Figure 4.
The impact of the sales agent's degree of overconfidence on the production quantity
Figure 5.
The impact of the sales agent's degree of overconfidence on the manufacturer's expected profits
Figure 6.
The impact of the sales agent's degree of overconfidence on her expected profits
| [1] |
Shichen Zhang, Jianxiong Zhang, Jiang Shen, Wansheng Tang. A joint dynamic pricing and production model with asymmetric reference price effect. Journal of Industrial and Management Optimization, 2019, 15 (2) : 667-688. doi: 10.3934/jimo.2018064 |
| [2] |
Kegui Chen, Xinyu Wang, Min Huang, Wai-Ki Ching. Compensation plan, pricing and production decisions with inventory-dependent salvage value, and asymmetric risk-averse sales agent. Journal of Industrial and Management Optimization, 2018, 14 (4) : 1397-1422. doi: 10.3934/jimo.2018013 |
| [3] |
Apostolis Pavlou. Asymmetric information in a bilateral monopoly. Journal of Dynamics and Games, 2016, 3 (2) : 169-189. doi: 10.3934/jdg.2016009 |
| [4] |
Xiaohong Chen, Kui Li, Fuqiang Wang, Xihua Li. Optimal production, pricing and government subsidy policies for a closed loop supply chain with uncertain returns. Journal of Industrial and Management Optimization, 2020, 16 (3) : 1389-1414. doi: 10.3934/jimo.2019008 |
| [5] |
Zhiping Zhou, Yao Yin, Mi Zhou, Hao Cheng, Panos M. Pardalos. Equity-based incentive to coordinate shareholder-manager interests under information asymmetry. Journal of Industrial and Management Optimization, 2021 doi: 10.3934/jimo.2021167 |
| [6] |
Qing-you Yan, Juan-bo Li, Ju-liang Zhang. Licensing schemes in Stackelberg model under asymmetric information of product costs. Journal of Industrial and Management Optimization, 2007, 3 (4) : 763-774. doi: 10.3934/jimo.2007.3.763 |
| [7] |
Chun-xiang Guo, Dong Cai, Yu-yang Tan. Outsourcing contract design for the green transformation of manufacturing systems under asymmetric information. Journal of Industrial and Management Optimization, 2021 doi: 10.3934/jimo.2021158 |
| [8] |
Zhi-tang Li, Cui-hua Zhang, Wei Kong, Ru-xia Lyu. The optimal product-line design and incentive mechanism in a supply chain with customer environmental awareness. Journal of Industrial and Management Optimization, 2021 doi: 10.3934/jimo.2021204 |
| [9] |
Artur O. Lopes, Jairo K. Mengue. On information gain, Kullback-Leibler divergence, entropy production and the involution kernel. Discrete and Continuous Dynamical Systems, 2022, 42 (7) : 3593-3627. doi: 10.3934/dcds.2022026 |
| [10] |
Lou Caccetta, Elham Mardaneh. Joint pricing and production planning for fixed priced multiple products with backorders. Journal of Industrial and Management Optimization, 2010, 6 (1) : 123-147. doi: 10.3934/jimo.2010.6.123 |
| [11] |
Zhongbao Zhou, Yanfei Bai, Helu Xiao, Xu Chen. A non-zero-sum reinsurance-investment game with delay and asymmetric information. Journal of Industrial and Management Optimization, 2021, 17 (2) : 909-936. doi: 10.3934/jimo.2020004 |
| [12] |
Guoqiang Shi, Yong Wang, Dejian Xia, Yanfei Zhao. Information sharing when competing manufacturers adopt asymmetric channel in an e-tailer. Journal of Industrial and Management Optimization, 2021 doi: 10.3934/jimo.2021207 |
| [13] |
Biswajit Sarkar, Bimal Kumar Sett, Sumon Sarkar. Optimal production run time and inspection errors in an imperfect production system with warranty. Journal of Industrial and Management Optimization, 2018, 14 (1) : 267-282. doi: 10.3934/jimo.2017046 |
| [14] |
Shuaiqi Zhang, Jie Xiong, Xin Zhang. Optimal investment problem with delay under partial information. Mathematical Control and Related Fields, 2020, 10 (2) : 365-378. doi: 10.3934/mcrf.2020001 |
| [15] |
Simone Göttlich, Patrick Schindler. Optimal inflow control of production systems with finite buffers. Discrete and Continuous Dynamical Systems - B, 2015, 20 (1) : 107-127. doi: 10.3934/dcdsb.2015.20.107 |
| [16] |
Yan Wang, Yanxiang Zhao, Lei Wang, Aimin Song, Yanping Ma. Stochastic maximum principle for partial information optimal investment and dividend problem of an insurer. Journal of Industrial and Management Optimization, 2018, 14 (2) : 653-671. doi: 10.3934/jimo.2017067 |
| [17] |
Veena Goswami, Gopinath Panda. Optimal information policy in discrete-time queues with strategic customers. Journal of Industrial and Management Optimization, 2019, 15 (2) : 689-703. doi: 10.3934/jimo.2018065 |
| [18] |
Klas Modin. Geometry of matrix decompositions seen through optimal transport and information geometry. Journal of Geometric Mechanics, 2017, 9 (3) : 335-390. doi: 10.3934/jgm.2017014 |
| [19] |
Bagher Bagherpour, Shahrooz Janbaz, Ali Zaghian. Optimal information ratio of secret sharing schemes on Dutch windmill graphs. Advances in Mathematics of Communications, 2019, 13 (1) : 89-99. doi: 10.3934/amc.2019005 |
| [20] |
Mingyong Lai, Hongzhao Yang, Erbao Cao, Duo Qiu, Jing Qiu. Optimal decisions for a dual-channel supply chain under information asymmetry. Journal of Industrial and Management Optimization, 2018, 14 (3) : 1023-1040. doi: 10.3934/jimo.2017088 |
2021 Impact Factor: 1.411
Tools
Metrics
Other articles
by authors
[Back to Top]