Consumer surplus is the amount exceeding an equilibrium price the consumer is willing to pay. The equilibrium price is an idealized price, in which the demand for the good equals its supply. If the ...

The American Economist is a leading refereed journal published by the International Honor Society in Economics – Omicron Delta Epsilon – for the enhancement of research in economics. It publishes ...

We consider a single-product revenue management problem where, given an initial inventory, the objective is to dynamically adjust prices over a finite sales horizon to maximize expected revenues.

Aggregate demand is an economic term that encompasses the total amount of goods and services consumers want at an established overall price level and within a given period of time. Supply chain ...