National Academies report on "The Postdoctoral Experience Revisited"

Revised version of "Robust Timing of Markdowns"

Here is the revised version of my paper "Robust Timing of Markdowns", written with Michael Dziecichowicz and Daniela Caro. It considers a product sold over a selling horizon at various decreasing prices by a retailer and applies robust optimization to the uncertain demand arrival rates. A key feature of this paper is that, because the time during which the product is put on sale at a given price is a decision variable, the argument of the (concave) budget of uncertainty is itself a decision variable, introducing non-convexities in the formulation. We show how to solve the problem in a tractable manner. We also show that, under a mild condition, there is one optimal sale time (two distinct selling prices) in the selling season when the budget of uncertainty is concave. We also implement a dynamic policy and demonstrate its potential on numerical experiments, and extend the setup to the case of multiple products. 


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