Pricing assets, perishable

Zhao, W., YS. Zheng. 2000. Optimal Dynamic Pricing for Perishable Assets with Nonhomogeneous Demand. Management Science 46(3), 375-388. 

W. Zhao and Y. S. Zheng. Optimal dynamic pricing for perishable assets with nonhomogeneous demand. Management Science, 46(3) 375-388, 2000. 

Bodily, S. E. and L. R. Weatherford (1995). Perishable-asset Revenue Management Generic and Multiple-price Yield Management with Diversion, Omega, 23, 173-185. 

Weatherford, Lawrence R. and Samuel E. Bodily (1992). A Taxonomy and Research Overview of Perishable-Asset Revenue Management Yield Management, Overbooking, and Pricing, Operations Research, 40, 831-844. 

Any asset that loses value over time is perishable. Clearly, fruits, vegetables, and pharmaceuticals are perishable, but this list also includes products such as computers and cell phones that lose value as new models are introduced. High-fashion apparel is perishable because it cannot be sold at full price once the season is past. Perishable assets also include all forms of production, transportation, and storage capacity that is wasted if not fully utilized. Unused capacity fiom the past has no value. Thus, all unused capacity is equivalent to perished capacity. 

---