An integrated mathematical model to optimise expected profit in e-markets using web catalogues

Narges Yousefpoor and Laya Olfat

International Journal of Industrial and Systems Engineering, 2012, vol. 12, issue 1, 100-118

Abstract: Web information systems have been utilised extensively over the past decade. One prevalent term is e-commerce (EC). The EC can be defined as the exchange transactions which take place over the internet using digital technology. This encompasses all activities supporting market transactions. Hence, it is essential to facilitate the process of EC for customising the markets. Here, we first use an analytical hierarchy process to analyse the potential of existing markets. Then the products are represented in the markets using a web catalogue. The customers view the web catalogues and may choose some products. Considering the duration of viewing, we propose a mathematical model to optimise the expected profit. This knowledge helps the policy-makers to investigate different markets' demand on various products associated with their expected profit. The validity of the proposed mathematical model is verified in a numerical example.

Keywords: information technology; e-markets; electronic markets; online markets; web catalogues; integrated mathematical modelling; e-commerce; electronic commerce; analytical hierarchy process; AHP; expected profit. (search for similar items in EconPapers)
Date: 2012
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